S&P/ASX 200 to open higher: 9 shares to watch

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 0.21%
  • NASDAQ (USA): up 0.55%
  • FTSE 100 (UK): up 0.34%
  • DAX (Germany): up 0.31%
  • CAC 40 (France): up 0.49%

In Europe, markets climbed higher on expectations of more stimulus from the European Central Bank. That’s despite a selloff in some commodities and Chinese shares overnight. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) rose 0.66% and fell 1%, respectively.

In the US, markets mirrored gains from Europe ahead of tomorrow’s central bank policy meeting. The energy and technology sectors were the best-performing.

Closer to home, the Sydney Futures Exchange is tipping an 11-point, or 0.2%, rise in the S&P/ASX 200.

Overnight, iron ore prices fell hard, taking the steelmaking ingredient’s market price down 9% to around $US58 a tonne, according to The Metal Bulletin. The share prices of BHP, Rio Tinto and Fortescue Metals Group Limited (ASX: FMG) have performed very well so far this year as iron ore prices staged a dramatic recovery.

Conversely, oil prices soared overnight. According to CNBC, US oil prices rose nearly 5% to $US38.29 a barrel. Shareholders of Woodside Petroleum Limited (ASX: WPL), Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) will be hoping their recent share price rally can continue today.  

Rare-earths miner Lynas Corporation Ltd (ASX: LYC) announced its unaudited half-year results to the market today, revealing $93 million of revenue but a loss of $66 million.

Finally, in broker news, Credit Suisse analysts have raised their price target on shares of Platinum Asset Management Limited (ASX: PTM) 1.6% to $6.50 and upped their Crown Resorts Ltd (ASX: CWN) price target 1.8% to $11.40, according to Dow Jones Newswires.

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Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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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