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 1.35%
- DAX (Germany): up 2.18%
- CAC 40 (France): up 2.46%
- Dow Jones (USA): up 1.22%
- NASDAQ (USA): up 2%
In London, shares closed firmly higher as a rise in home improvement retailer, Kingfisher PLC, was in focus. Mining shares initially weighed on the market but ended higher.
US markets ended higher as technology and financial stocks led the charge.
Closer to home, the Sydney Futures Exchange is tipping a 41-point, or 0.8%, rise in the S&P/ASX 200.
The Australian is reporting China's Jangho Group is considering a $2 billion takeover of Primary Health Care Ltd (ASX: PRY), the leading hospital operator.
Wesfarmers Ltd (ASX: WES) released a statement highlighting the likelihood of significant items in its upcoming 2016 financial year results. According to its media release, the retail giant is expecting to incur impairments of between $1.7 billion and $2.15 billion, mostly against the Target and Curragh businesses. In addition, the company expects Target to report a full-year loss of $50 million and Wesfarmers will incur $145 million in restructuring costs.
In other news, Australian Agricultural Company Ltd (ASX: AAC) reported its full-year results today, revealing a 45% increase in sales revenue and 580% jump in profit to $68 million.
Programmed Maintenance Services Limited (ASX: PRG) reported a 54% jump in its full-year revenue to $2.22 billion, but a net loss of $98 million.
Finally, in recent broker news:
- Macquarie analysts cut their SAI Global Limited (ASX: SAI) price target 7% to $4;
- Macquarie analysts also cut their Flight Centre Travel Group Ltd (ASX: FLT) price target 19% to $28.26; and
- Morgan Stanley analysts raised their Resolute Mining Limited (ASX: RSG) price target 89% to $0.85, according to Dow Jones Newswires.
