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 0.36%
- DAX (Germany): up 0.54%
- CAC 40 (France): up 0.61%
- Dow Jones (USA): up 0.14%
- NASDAQ (USA): up 0.14%
In London, shares pushed modestly higher despite investors' lingering concerns over Britain's upcoming EU referendum. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.5% and 0.4% lower, respectively.
US markets drifted sideways as Federal Reserve Chair, Janet Yellen, took a cautious tone on rising interest rates. The energy and consumer staples sectors were best performing.
Closer to home, the Sydney Futures Exchange is tipping a 15-point, or 0.3%, rise in the S&P/ASX 200.
Shares in focus will include Rio Tinto. This morning, the mining giant announced it will reduce its gross debt by $3 billion through its June tender offers. Today's media release follows an announcement by the company yesterday evening which detailed a new organisational structure and executive team. Notably, Rio's iron ore chief executive, Andrew Harding, will leave the business.
Wesfarmers Ltd (ASX: WES) shares will also be in focus as Australia's largest retailer hosts its investor day presentations.
Spark New Zealand Ltd (ASX: SPK) revealed it is now New Zealand's number one mobile operator, based on revenue earned from customers.
Finally, in broker news:
- Bell Potter analysts raised their Medical Developments International Ltd (ASX: MVP) price target 2.9% to $7.72;
- Deutsche Bank analysts raised their Metcash Limited (ASX: MTS) price target 16% to $1.85; and
- Morgan Stanley analysts raised their Fletcher Building Limited (Australia) (ASX: FBU) price target 4.3% to $8.66, according to Dow Jones Newswires.
