The local S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to open higher following positive leads from foreign markets overnight.
Here's a recap:
- Dow Jones (USA) – up 0.96%
- NASDAQ (USA): up 0.65%
- FTSE 100 (UK): up 0.80%
- DAX (Germany) – down 0.09%
- EURO STOXX 50 (Europe) – up 0.04%
In the US, consumer spending data carried markets higher. In Europe, energy shares helped stymie recent selloffs. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) climbed 0.94%, while Rio Tinto Limited (ASX: RIO) moved 1.89% higher.
Closer to home, the Sydney Futures Exchange is tipping a 24-point rally in the S&P/ASX 200.
According to Fairfax, oil prices rose 1% overnight, to $US34.15 a barrel, while iron ore closed at $US40.80 a tonne. In recent times, shares of Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH) have come under selling pressure as commodity prices plummeted. Investors will hope a modest rebound in oil prices overnight will take their share prices higher today.
In company-specific news, Auckland International Airport Ltd (ASX: AIA) released its monthly traffic update, showing healthy increases in passenger movers; and Lend Lease Group (ASX: LLC) announced the introduction of a new co-investor to the Barangaroo South precinct.
In broker news, Macquarie cut its price target on Origin Energy Ltd (ASX: ORG) shares to $5.55 from $6.35, according to Dow Jones Newswires.
