Local shares are expected to ride on the tails of their international counterparts when the market opens this morning.
Here's a quick recap:
- FTSE 100 (UK): up 0.87%
- DAX (Germany): up 2.24%
- CAC 40 (France): up 1.77%
- Dow Jones (USA): up 1.4%
- NASDAQ (USA): up 1.64%
Shares around the world rallied on Friday night, partially thanks to a rising oil price. This helped to boost the internationally-listed share prices of companies such as BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO), suggesting a stronger day for those shares today.
Meanwhile, Wall Street also rallied on a stronger-than-expected US June payrolls report which eased concerns related to the health and growth prospects of the world's biggest economy. As it stands, the Sydney Futures Exchange is pointing to a 61 point or 1.2% lift for the ASX 200 at the open as well.
Investors will also keep an eye on the gold sector today. Shares across the sector have skyrocketed so far in 2016 and that could continue today. But then again, the strong jobs data from the U.S. may see some uncertainties weigh on the sector, hurting companies such as EVOLUTION FPO (ASX: EVN) and St Barbara Ltd (ASX: SBM).
Indeed, these shares can certainly be attractive when uncertainty is on the rise, but can be hit hard when those fears ease.
In other news, investors could take a look at companies such as Orora Ltd (ASX: ORA) and Credit Corp Group Limited (ASX: CCP). According to The Australian Financial Review, WAM Leaders, a fund which holds both stocks, believes those companies (among others) could be more attractive options than the banks right now.
Finally, Nearmap Ltd (ASX: NEA) has also announced that the first availability of commercial imagery from its HyperCamera2 was completed in June. This was launched in the United States in April and has since captured seven major cities, including San Francisco, Los Angeles, Las Vegas and Denver.
