The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following positive leads from international markets.
Here's a recap:
- FTSE 100 (UK): up 2.64%
- DAX (Germany): up 1.93%
- CAC 40 (France): up 2.61%
- Dow Jones (USA): up 1.57%
- NASDAQ (USA): up 2.12%
In London, shares rebounded from their post-Brexit lows to notch up solid gains. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 4.4% and 2.2% higher, respectively.
US markets also rallied strongly following a two-day selloff, with shares in the energy and financials sectors best-performing.
Closer to home, the Sydney Futures Exchange is tipping an 83-point, or 1.6%, rise in the S&P/ASX 200.
Shares in focus will include APN News and Media Limited (ASX: APN). This morning, the company announced it had completed the implementation of its demerger of NZME LTD DEF NZ (ASX: NZM). NZME Ltd is APN's New Zealand-based business. The company is expected to merge with Fairfax Media Limited's (ASX: FXJ) New Zealand assets.
Billabong International Limited (ASX: BBG) announced it will sell its skate hardware brand, Sector 9, for US$12 million to an affiliate of Bravo sports.
Caltex Australia Limited (ASX: CTX) released its 2016 half-year profit outlook with forecast profit after tax in the range of $310 million and $330 million.
Vocus Communications Limited (ASX: VOC) shares have entered a trading halt. Speculation is swirling that the company could be mulling a takeover of NextGen Networks.
Finally, in broker news:
- Deutsche Bank analysts cut their Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) price target 8.2% to NZ$11.20;
- Morgans analysts raised their Orocobre Limited (ASX: ORE) price target 29% to $5.66;
- Morgan Stanley raised their Fortescue Metals Group Limited (ASX: FMG) price target 17% to $2.70, according to Dow Jones Newswires.
