The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following positive leads from international markets.
Here's a recap:
- Dow Jones (USA): up 1.1%
- NASDAQ (USA): up 1.6%
- FTSE 100 (UK): up 1.9%
- DAX (Germany): up 2.7%
- CAC 40 (France): up 3.3%
- Iron ore up 1.3% to US$60.48 a tonne
- Brent Crude oil down 1.3% at US$44.09 a barrel
- Gold down 1% to US$1,242.24 an ounce
- Australian dollar buying US 76.6 cents (up 1.5 US cents in past week)
In London, the FTSE 100 index reached its highest level for 2016 after positive data on Chinese exports sent commodity shares higher. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 5.5% and 7.5% higher respectively.
US markets were also helped by China's news, and together with positive quarterly results from major corporates, ended firmly higher. The materials and financials sectors were the best-performing.
Closer to home, the Sydney Futures Exchange is tipping a 36-point, or 0.7%, rise in the S&P/ASX 200.
Shares in focus will include Sandfire Resources NL (ASX: SFR). This morning, the gold and copper producer delivered its quarterly results to the market revealing solid mine production levels. The company set its 2016 financial year copper production guidance between 65,000 and 68,000 tonnes and gold production guidance between 35,000 and 40,000 ounces.
Meanwhile, gold miner Northern Star Resources Ltd (ASX: NST) released its quarterly results, showing a 5% fall in all-in sustaining costs, a modest increase in gold sold and a growing cash pile.
ASX Ltd (ASX: ASX) updated the market on its profit performance for the nine months to 31 March 2016 revealing a 7% rise in revenue and 6.2% increase in profit.
Downer EDI Limited (ASX: DOW) released a statement to the market detailing the completion of a partial extension of the group's $400 million syndicated debt facility.
Finally, in broker news, Credit Suisse analysts upped their price target on Newcrest Mining Limited (ASX: NCM) shares to $13.15 from $13 while Deutsche Bank lifted their BlueScope Steel Limited (ASX: BSL) price target from $5.66 to $5.98, according to Dow Jones Newswires.
