Local shares are poised to open higher today, despite the uncertainty caused by the weekend’s inconclusive federal election.

Here’s a quick recap:

  • FTSE 100 (UK): up 1.13%
  • DAX (Germany): up 0.99%
  • CAC 40 (France): up 0.86%
  • Dow Jones (USA): up 0.11%
  • NASDAQ (USA): up 0.41%

International markets traded higher again on Friday as the post-Brexit rebound continued. While the weekend’s federal election may create some uncertainty among investors, the Sydney Futures Exchange is still pointing to a 32-point or 0.6% gain, when the market opens this morning.

Oil and iron ore prices continued to rise, which could bode well for shares of companies such as BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) today. The pair have risen strongly recently, despite falling after Brexit.

As reported by The Australian Financial Review, Rio Tinto’s new CEO has also indicated the end of iron ore production wars may be near. He also suggested his company could look to expand its presence into other commodity markets and explore acquisition opportunities.

Vocus Communications Limited (ASX: VOC) should also be a key focus today. The telco’s shares have been stuck in a trading halt since the middle of last week pending a capital raising, but are expected to reopen today. The company is undertaking an acquisition which is expected to generate value for shareholders.

Investors will likely take a closer look at shares of Shaver Shop Group Ltd (ASX: SSG) as well. The company listed on the ASX on Friday and ended the day slightly higher than its initial offer price of $1.05 per share.

TFS Corporation Limited (ASX: TFC) has reaffirmed its financial year 2016 earnings guidance and said it is “well advanced” with its plans to deliver a significant increase in financial performance in 2017.

Meanwhile, RCG Corporation Ltd (ASX: RCG), the owner of The Athlete’s Foot stores, said it has entered into a binding agreement to acquire Hype DC Pty Limited, which is another footwear retailer. The purchase price is expected to be $105 million and is tipped to be “materially” earnings per share accretive in FY17.

In broker news, UBS has downgraded Select Harvests Limited (ASX: SHV) from Buy to Neutral, according to Dow Jones Newswires.

Macquarie has also raised its target price on REA Group Limited (ASX: REA) by 21% to $59, which is slightly above the company’s current share price. However, Macquarie also cut its price target on Woolworths Limited (ASX: WOW) by 1.7% to $19.80.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.