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:
- FTSE 100 (UK): up 0.68%
- DAX (Germany): up 0.65%
- CAC 40 (France): up 0.36%
- Dow Jones (USA): up 1.26%
- NASDAQ (USA): up 1.26%
In London, shares ventured higher following robust Chinese inflation data and corporate earnings. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.8% and 0.6% higher, respectively.
US markets also ended in positive territory after news of Chinese stimulus boosted oil prices and helped energy shares higher.
Closer to home, the Sydney Futures Exchange is tipping a 30-point, or 0.5%, rise in the S&P/ASX 200.
Shares in focus will include SKYCITY Entertainment Group Limited-Ord (ASX: SKC). This morning, the casino operator announced its intention to raise NZ$263 million via a rights offer to fund two major growth projects in Auckland and Adelaide. Eligible retail shareholders can apply for shares at a price of NZ$4.40 (or $4.05 for Australian investors).
Fairfax Media Limited (ASX: FXJ) and APN News and Media Limited (ASX: APN) will also be in focus. APN shares entered a trading halt today as it seeks to demerge its NZME business to APN shareholders in New Zealand and Australia. It will also raise around $180 million via an underwritten 1 for 3 rights offer. Fairfax is also in discussions with APN to explore a merger of their NZ businesses.
Saracen Mineral Holdings Limited (ASX: SAR) updated the market on its Deep South underground mine at Carosue Dam, saying stoping is now underway. Carosue Dam is set to meet its FY16 and FY17 production outlook of 150,000 ounces to 160,000 ounces per annum.
Finally, in broker news, Credit Suisse analysts raised their CSR Limited (ASX: CSR) price target 3.1% to $3.30, while Macquarie analysts raised their Insurance Australia Group Ltd (ASX: IAG) price target 5.7% to $5.60, according to Dow Jones Newswires.
