The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to bounce back today following a strong performance from international markets on Friday.
Here's a quick recap:
- FTSE 100 (UK): up 0.46%
- DAX (Germany): up 0.39%
- CAC 40 (France): up 0.66
- Dow Jones (USA): up 0.69%
- NASDAQ (USA): up 0.47%
The resource sector could receive plenty of attention today after a commodity prices rose during the latest session.
Companies such as BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) could benefit from a 1.8% rise in the price of iron ore, according to The Metal Bulletin. The former could also benefit from a 2% rebound for oil prices, with Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) also positioned to benefit.
The gold price also rose 0.7%, which could provide some support for the share prices of businesses such as Northern Star Resources Ltd (ASX: NST) and Newcrest Mining Limited (ASX: NCM). Notably, the Northern Star Resources share price declined 4.5% on Friday.
Embattled online retail business Surfstitch Group Ltd (ASX: SRF) said this morning that it has made 'substantial progress' with its plans to reduce costs and streamline operations. However, it also pointed to difficult trading conditions which resulted in another deterioration in the group's expected earnings (EBITDA) loss. It now expects its EBITDA loss to be between $10.5 million and $11.5 million, down from previous guidance of a loss around $5.75 million (on average).
Elsewhere, Sirtex Medical Limited (ASX: SRX) could be back in focus after its share price rebounded on Friday. That said, this isn't a stock that the more risk-averse investors should consider owning.
Before getting started on your day, be sure to check out these two articles:
