The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following mixed leads from international markets on Friday.
Here's a recap:
- Dow Jones (USA): up 0.37%
- NASDAQ (USA): up 0.20%
- FTSE 100 (UK): up 1.13%
- DAX (Germany): up 0.74%
- CAC 40 (France): up 0.92%
In Europe, mining and resources shares were helped by gains in major commodity prices. Markets ended firmly higher. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) ended 6.5% and 5.7% higher, respectively.
In the US, markets closed higher, with the Dow Jones Industrial Average climbing above 17,000 points after being buoyed by February jobs data, which showed stronger-than-expected employment levels despite weakness in global markets. Commodity prices also buoyed markets.
Closer to home, the Sydney Futures Exchange is tipping a 36-point, or 0.7%, rise in the S&P/ASX 200.
Shares in focus will include major miners like BHP and Rio, but also Fortescue Metals Group Ltd (ASX: FMG). According to the Fairfax Press, iron ore prices last closed up 5% at $US53.75 per tonne.
Shares of oil and gas producers will also be in focus following a price rise of 4.5%, taking brent crude to $US38.72 a barrel in London at the weekend. In recent months, shares of oil producers like Oil Search Limited (ASX: OSH), Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO) have slumped as market prices plummeted.
Copper prices also rose firmly higher in London, initially seeing shares of global giants like Glencore Plc rise an enormous 12%. With copper prices now at a four-month high, local producers like Oz Minerals Limited (ASX: OZL) and Sandfire Resources NL (ASX: SFR) will be in focus.
Finally, in broker news, analysts at UBS have raised their price target on shares of Webjet Limited (ASX: WEB) 9.4% to $6.40 and increased their Alumina Limited (ASX: AWC) price target 15% to $1.50 a share.
