Fresh off its best day in months, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to rise again today as confidence rises in a Clinton victory in tomorrow's US election.
Here's a quick recap:
- FTSE 100 (UK): up 1.7%
- DAX (Germany): up 1.93%
- CAC 40 (France): up 1.91%
- Dow Jones (USA): up 2.08%
- NASDAQ (USA): up 2.37%
Bets for a Clinton victory helped bolster the prices of iron ore and oil overnight. Iron ore in particular rose 3.8% to more than US$67 a tonne, according to The Metal Bulletin, which could help bolster shares of BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) today.
Meanwhile, The Australian Financial Review reported that coking coal surged by its 10% limit amid tight supply. Whitehaven Coal Ltd (ASX: WHC) has been one of the top-performing shares of 2016, and could rise even further as a result.
Unfortunately for gold bulls, the spot gold price slipped 1.9% overnight, now fetching US$1,280 an ounce. That could weigh on St Barbara Ltd (ASX: SBM), EVOLUTION FPO (ASX: EVN), Northern Star Resources Ltd (ASX: NST) and their fellow gold miners.
Outside the resource sector, Inghams Group Limited (ASX: ING) will remain in focus after its ASX debut yesterday. Its shares ended the day 2.6% higher, but did fall below their IPO price during the session.
Coca-Cola Amatil Ltd (ASX: CCL) and Woolworths Limited (ASX: WOW) could also receive some attention. The Herald Sun yesterday reported that Woolworths was reviewing its five-year contract to buy products from SPC Ardmona, owned by Coca-Cola Amatil, after just two years. It reported that Woolies was looking to cut costs by switching to other suppliers.
Online real estate giant REA Group Limited (ASX: REA) will hold its annual general meeting today, along with Newcrest Mining Limited (ASX: NCM). This could provide investors with some insight into how they're performing so far this year.
Domino's Pizza Enterprises Ltd. (ASX: DMP) also held its AGM late yesterday, upgrading its earnings guidance. Thus, the shares could get another boost today now that investors have digested the information.
