The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following positive leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): up 0.20%
- NASDAQ (USA): up 0.29%
- FTSE 100 (UK): down 0.09%
- DAX (Germany): up 0.61%
- CAC 40 (France): up 0.41%
In Europe, markets closed mostly flat despite a surge in mining and financial shares. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 5.36% and 2.82% higher, respectively.
In the US, markets overlooked government data which pointed to a rise in excess oil inventories, instead focusing on a fall in monthly oil production between April and December 2015. US Crude oil prices rallied 1.37%.
Closer to home, the Sydney Futures Exchange is tipping a 25 point, or 0.5%, rise in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO).
Shares in focus will include Slater & Gordon Limited (ASX: SGH). The embattled law firm has seen its share price fall 62% in the past five days.
This morning BHP Billiton announced that it had reached an agreement with Brazilian authorities for the restoration of the environment and communities affected by the Samarco dam wall failure on 5 November 2015.
The 15-year agreement will fund a foundation with approximately $US1.1 billion between now and 2018 before decreasing to between $US200 million and $US400 million annually between 2019 and 2021.
In broker news, Credit Suisse analysts raised their NIB Holdings Limited (ASX: NHF) price target 11% to $3.90, Deutsche Bank analysts cut their Tabcorp Holdings Limited (ASX: TAH) price target 3.2% to $4.55, and Bell Potter analysts upgraded Bega Cheese Ltd (ASX: BGA) from hold to buy with a $6.69 price target, according to Dow Jones Newswires.
