The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) is expected to open slightly higher on Friday, with SEEK Limited (ASX: SEK) shares and Gateway Lifestyle Group (ASX: GTY) shares in focus.
Here's a quick recap of global markets:
- FTSE 100 (UK): down 0.4%
- DAX (Germany): up 0.1%
- CAC 40 (France): up 0.6%
- Dow Jones (USA): up 0.1%
- NASDAQ (USA): up 0.2%
In London, the FTSE ended lower for a third straight day following news that the U.S. Federal Reserve will begin cutting its $US4.5 trillion debt pile. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 0.6% and 0.3% higher, respectively.
Across the pond, U.S. markets ended mostly higher despite a selloff of the technology sector. The energy and financials sectors were best-performing.
Closer to home, the S&P/ASX 200 is expected to open slightly higher this morning, with banks such as Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) likely to benefit from the overseas rally in financials.
A selloff in iron ore futures in China may see shares of Fortescue Metals Group Limited (ASX: FMG), Rio and BHP come under pressure.
SEEK Limited shares will also be in focus after the company announced that its Chinese subsidiary, Zhaopin, has signed an agreement for its remaining public shares to be acquired by a combined buyer group.
Gateway Lifestyle Group provided an acquisition update, revealing that it has entered into an unconditional contract to acquire the Sundown Resort in Canberra for $17 million.
Finally, in broker news, Macquarie analysts raised their Magellan Financial Group Ltd (ASX: MFG) price target to $26.14, according to Dow Jones Newswires.
