The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to rise for its sixth consecutive session today following a very positive lead set by its international counterparts overnight. The futures market is pointing to a 17-point gain at the open.
Here's a quick recap:
- FTSE 100 (UK): up 0.28%
- DAX (Germany): up 0.92%
- CAC 40 (France): up 1.24%
- Dow Jones (USA): up 0.7%
- NASDAQ (USA): up 0.52%
Watch BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) again. After the trio rose between 2.2% and 6.2% on Monday, they could be in for another solid session after the iron ore price rallied another 6.5%.
According to The Metal Bulletin, the resource is now trading for US$92.23 a tonne. Gold and oil, on the other hand, both recorded declines overnight.
Earnings season will also continue to dominate headlines today. Cochlear Limited (ASX: COH) reported a 4% increase in sales revenue this morning with net profit rising 19%.
Retail business Nick Scali Limited (ASX: NCK) also reported a strong rise in earnings, up a whopping 44.7% on the back of a 15.5% increase in revenue.
Challenger Ltd (ASX: CGF) reported its half-year results as well. Normalised profit rose 8%, with normalised earnings per share rising 7.4%.
And MNF Group Ltd (ASX: MNF) managed to increase its own net profit result by 21% to $4.9 million for the first half, with revenue rising 9% as well.
It's also worth keeping an eye on JB Hi-Fi Limited (ASX: JBH) today. The retailer's shares rose strongly on Monday off the back of a strong earnings report, with further gains possible today.
Before getting started on your day, be sure to check out these two articles:
