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 0.21%
- DAX (Germany): up 0.92%
- CAC 40 (France): down 0.18%
- Dow Jones (USA): up 1%
- NASDAQ (USA): up 1.22%
In London, shares ended higher as Brent oil climbed towards $US50 per barrel. Goldman Sachs analysts believe that for the first time in two years the global oil market is in deficit (meaning demand is greater than supply). FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 3.45% and 1.58% higher, respectively.
US markets ended firmly higher thanks to the oil price rises and after news Warren Buffett made a $US1 billion investment in a technology giant. The energy and materials sectors were the best-performing.
Closer to home, the Sydney Futures Exchange is tipping a 47-point, or 0.9%, rise in the S&P/ASX 200.
Shares in focus will include Ozforex Group Ltd (ASX: OFX). This morning, the foreign exchange group provided its 2016 performance highlights including a statutory profit of $21.8 million.
DuluxGroup Limited (ASX: DLX) released its half-year report revealing a 1.7% rise in revenue and 3.7% increase in profit before abnormals.
Westpac Banking Corp (ASX: WBC) announced the launch of new capital notes (a form of quasi-debt some banks use to raise capital) to raise approximately $750 million.
Ruralco Holdings Ltd (ASX: RHL) announced its half-year results, with revenue rising 8% and profit climbing 3.2% to $10.8 million.
Finally, in recent broker news:
- RBC analysts initiated South32 Ltd (ASX: S32) shares with an 'outperform' rating and $2 price target;
- Goldman Sachs analysts raised their Origin Energy Ltd (ASX: ORG) price target 3.3% to $5.25; and
- Macquarie analysts raised their Ainsworth Game Technology Limited (ASX: AGI) price target 25% to $2.63, according to Dow Jones Newswires.
