The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade higher following positive leads from overseas markets on Friday.
Here's a recap:
- Dow Jones (USA): up 2.47%
- NASDAQ (USA): up 2.38%
- FTSE 100 (UK): up 2.58%
- DAX (Germany): up 1.64%
- EURO STOXX 50 (Europe): up 2.20%
In both Europe and the US, markets ended firmly higher following a decision by the Bank of Japan to adopt a negative interest rate policy. Together with the recent bounce in oil prices, markets closed the book on a turbulent first month of trading in 2016 on a strong footing.
FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.47% lower and 0.82% higher, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 37 point, or 0.7%, jump in the S&P/ASX 200.
In company news, WAM Capital Limited (ASX: WAM) announced a 248% increase in operating profit before tax following a 21.8% outperformance of the All ORDINARIES Accumulation Index over the year. The Listed Investment Company (LIC) achieved its stellar outperformance despite holding 31.5% cash.
Another company in focus will be junior aerial photography business, Nearmap Ltd (ASX: NEA). This morning, Nearmap announced two senior executive appointments within the US business, a market in which it is expected to achieve big things in 2016.
Finally, Liquefied Natural Gas Ltd (ASX: LNG) announced its quarterly report to the ASX, showing a net operating cash outflow of $44 million.
In broker news, Bell Potter analysts cut their price target on shares of QBE Insurance Group Ltd (ASX: QBE) from $15.50 to $13.25, while Credit Suisse cut their target on Orica Ltd (ASX: ORI) shares from $16.91 to $15.30, according to Dow Jones Newswires.
