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 0.1%
- NASDAQ (USA): down 0.03%
- FTSE 100 (UK): up 0.03%
- DAX (Germany): up 0.67%
- CAC 40 (France): up 0.47%
In London, the FTSE-100 or 'blue chip index' rose higher following promising economic news from China. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 2.4% higher and 0.4% lower, respectively.
US markets continued to roll into earnings season with banks and airlines lifting Wall Street. The healthcare and telecommunications sectors were the best performing overall.
Closer to home, the Sydney Futures Exchange is tipping a 14-point, or 0.2%, rise in the S&P/ASX 200.
Rio Tinto shares will be in focus on the market today. This morning, the global miner released a statement to the ASX announcing an extension to its Channar Mining Joint Venture with Sinosteel Corporation.
Netcomm Wireless Ltd (ASX: NTC) updated the market on its recent performance and 2016 financial year (FY) guidance. It said revenue is expected to be up 14.4% at $85 million while EBITDA (earnings before interest, tax, depreciation and amortisation) will be down slightly on the FY15 result. However, it expects strong growth in FY17, underpinned by increased productivity and orders.
In broker news, Deutsche Bank analysts upped their Fortescue Metals Group Limited (ASX: FMG) price target from $2.60 to $2.70, while CLSA analysts increased their Alumina Ltd (ASX: AWC) price target from $1.40 to $1.45.
