The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is expected to trade higher today following positive leads from international markets overnight.
Here's a recap:
- Dow Jones (USA): up 2.11%
- NASDAQ (USA): up 2.89%
- FTSE 100 (UK): up 0.92%
- DAX (Germany): up 2.34%
- CAC 40 (France): up 1.22%
In Europe, markets closed firmly higher after reacting to China's stimulatory moves on Monday. FTSE-listed resources shares led markets to a two-month high, according to The Telegraph. London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) closed 2.3% and 2.4% higher, respectively.
In the US, technology and industrial shares led markets higher. Shares of Apple Inc and Alphabet Inc rose 4% and 3.5%, respectively, while shares of Amazon.Com rose 4.8%.
Closer to home, the Sydney Futures Exchange is tipping a 92 point, or 1.88%, rise in the S&P/ASX 200.
Shares in focus will include Yancoal Australia Ltd (ASX: YAL). The small-cap coal miner today announced its Donaldson operation in the Hunter Valley will move to care and maintenance this year. A total of 92 jobs are expected to be cut.
Australia and New Zealand Banking Group (ASX: ANZ) announced its decision to simplify its wealth management division. As a result, ANZ Group Executive of Wealth, Marketing and Innovation, Joyce Phillips, will leave ANZ to "pursue her successful financial services career" the bank said.
Ramsay Health Care Limited (ASX: RHC) said its Chinese joint venture, Ramsay Sime Darby Health Care Sdn Bhd, will not go ahead "due to a number of threshold conditions precedent not being satisfied".
The private health insurance sector will also be in focus. NIB Holdings Limited (ASX: NHF) this morning said it will increase its insurance premiums by an average of 5.55% – the lowest change in four years. In 2015, NIB's claims expenses rose 7.2%.
Meanwhile, Medibank Private Ltd (ASX: MPL), Australia's largest private health insurer, said it has received approval from the Federal Minister to increase premiums by an average of 5.64%.
Finally, Moody's has downgraded its Woolworths Limited (ASX: WOW) credit rating to Baa2 (outlook negative).
