Morning market movers: 9 stocks to watch

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to open higher this morning after solid gains were recorded by international equity markets overnight.

Although European markets remained mostly flat, the Dow Jones and NASDAQ indices both rose strongly in the United States, lifting 1.4% and 1.8% respectively.

Ozforex Group Ltd (ASX: OFX) will be in the market’s focus today after revealing it had received a takeover bid from The Western Union – an American financial services and communications company.

The all-cash offer is for between $3.50 and $3.70 per share, up roughly 38% from OzForex’s current price of $2.60.

A rise in the iron ore price overnight should offer some support to miners such as Rio Tinto Limited (ASX: RIO) and BHP Billiton Limited (ASX: BHP), which both fell sharply yesterday on concerns regarding Chinese demand for the commodity.

BHP Billiton will also hold its annual general meeting today, where it will face difficult questions from investors regarding the recent environmental disaster in Brazil, as well as the sustainability of its progressive dividend policy.

Orica Ltd (ASX: ORI) could also be on the market’s radar again after it said it expects earnings to lift slightly in 2016 yesterday, as could Suncorp Group Ltd (ASX: SUN) which Bell Potter says it sees “exceptional value” in, according to the Fairfax press.

Commonwealth Bank of Australia (ASX: CBA) is another blue chip worth watching. The bank’s shares have come alive over the last two sessions, with investors clearly taking advantage of the lower prices and higher dividend yield compared to earlier this year.

Meanwhile, Mobile Embrace Ltd (ASX: MBE) said it is on track for record first-half revenue and earnings and could find plenty of support from the market. Netcomm Wireless Ltd (ASX: NTC) shareholders will also be looking for further gains after their shares surged 25% yesterday.

Strong sales figures from David Jones could also provide some hope for shareholders of Myer Holdings Ltd (ASX: MYR). The department store giant posted its best sales growth in 15 years, according to Fairfax, rising 12.2% in the first 20 weeks of the year.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

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.

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