The local S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) is expected to trade firmly higher following modestly positive leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): up 0.06%
- NASDAQ (USA): down 0.24%
- FTSE 100 (UK): up 0.72%
- DAX (Germany): up 0.26%
- EURO STOXX 50 (Europe): up 0.42%
In the US, shares pared back from their heavy losses on Monday following the selloff on China's share market. European shares also finished mostly highly.
Following Monday's 2.39% and 4.28% plummet in both UK and German markets, respectively, fresh optimism from China buoyed commodity prices which in turn lifted shares in major resources companies overnight.
FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) snapped back some of their big losses to climb 1.46% and 1.94%, respectively.
Closer to home, the Sydney Futures Exchange is tipping a 15-point, or 0.2%, increase in the S&P/ASX 200 at the open.
Shareholders in the major banks, such as Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC), will hope the market reverses yesterday's losses.
Also, in focus will be retail shares, Harvey Norman Holdings Limited (ASX: HVN) and Breville Group Ltd (ASX: BRG). In the wake of the collapse of Dick Smith Holdings Ltd (ASX: DSH), shares of both companies rallied.
It'll also be interesting to see how investors react to news from junior iron ore miner, Grange Resources Limited (ASX: GRR). In the wake of plunging iron ore prices, the $105 million mining company said it had realised significant cost reductions, but redundancies are likely.
Dow Jones Newswires is reporting Sydney Airport Holdings Ltd (ASX: SYD) could appoint Mantra Group Ltd (ASX: MTR) to manage a new 138-room hotel, slated to start construction in April. In September, The Australian reported that Australia's largest airport operator would develop a total of three hotels as it plays catch-up with international counterparts.
