The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following positive leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): up 0.21%
- NASDAQ (USA): up 0.55%
- FTSE 100 (UK): up 0.34%
- DAX (Germany): up 0.31%
- CAC 40 (France): up 0.49%
In Europe, markets climbed higher on expectations of more stimulus from the European Central Bank. That's despite a selloff in some commodities and Chinese shares overnight. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) rose 0.66% and fell 1%, respectively.
In the US, markets mirrored gains from Europe ahead of tomorrow's central bank policy meeting. The energy and technology sectors were the best-performing.
Closer to home, the Sydney Futures Exchange is tipping an 11-point, or 0.2%, rise in the S&P/ASX 200.
Overnight, iron ore prices fell hard, taking the steelmaking ingredient's market price down 9% to around $US58 a tonne, according to The Metal Bulletin. The share prices of BHP, Rio Tinto and Fortescue Metals Group Limited (ASX: FMG) have performed very well so far this year as iron ore prices staged a dramatic recovery.
Conversely, oil prices soared overnight. According to CNBC, US oil prices rose nearly 5% to $US38.29 a barrel. Shareholders of Woodside Petroleum Limited (ASX: WPL), Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) will be hoping their recent share price rally can continue today.
Rare-earths miner Lynas Corporation Ltd (ASX: LYC) announced its unaudited half-year results to the market today, revealing $93 million of revenue but a loss of $66 million.
Finally, in broker news, Credit Suisse analysts have raised their price target on shares of Platinum Asset Management Limited (ASX: PTM) 1.6% to $6.50 and upped their Crown Resorts Ltd (ASX: CWN) price target 1.8% to $11.40, according to Dow Jones Newswires.
