The Sydney Futures Exchange is pointing to another 30-point gain when the market opens today, following the lead set by international markets overnight.
Here's a quick recap:
- FTSE 100 (UK): down 0.03%
- DAX (Germany): up 1.33%
- CAC 40 (France): up 1.57%
- Dow Jones (USA): up 0.66%
- NASDAQ (USA): up 0.69%
It was a night dominated by huge movements in commodity prices – some good and some bad. Oil and iron ore were the big surprise, lifting around 5% and 6% respectively which could bode well for companies in those spaces.
The London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) rose strongly overnight, suggesting a reasonable day for investors in those two companies, while Fortescue Metals Group Limited (ASX: FMG), Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could also get a boost.
South32 Ltd (ASX: S32) is another company whose share price has soared recently. In fact, its shares hit a fresh 52-week high yesterday and investors will hope for further gains today.
Gold, on the other hand, suffered one of its biggest one-day falls in weeks. It fell to US$1,334 an ounce which could weigh on shares of businesses such as EVOLUTION FPO (ASX: EVN) and Newcrest Mining Limited (ASX: NCM).
Meanwhile, lithium miners could be in focus again today as well, particularly Kingston Resources Ltd (ASX: KSN) and Ardiden Ltd (ASX: ADV). Kingston Resources said it had yielded high grade lithium rock chips at the Deep Purple South area while Ardiden secured a third lithium project.
Elsewhere in the market, Downer EDI Limited (ASX: DOW) announced that its Downer-Soletanche Bachy joint venture had been awarded a construction contract for the City Rail link Project in New Zealand.
In broker news, Blackmores Limited (ASX: BKL) will likely also receive some attention after Credit Suisse initiated covered on the stock, with an 'outperform' rating.
