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S&P/ASX 200 set to jump: 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.

Here’s a recap:

  • FTSE 100 (UK): up 2.64%
  • DAX (Germany): up 1.93%
  • CAC 40 (France): up 2.61%
  • Dow Jones (USA): up 1.57%
  • NASDAQ (USA): up 2.12%

In London, shares rebounded from their post-Brexit lows to notch up solid gains. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 4.4% and 2.2% higher, respectively.

US markets also rallied strongly following a two-day selloff, with shares in the energy and financials sectors best-performing.  

Closer to home, the Sydney Futures Exchange is tipping an 83-point, or 1.6%, rise in the S&P/ASX 200.  

Shares in focus will include APN News and Media Limited (ASX: APN). This morning, the company announced it had completed the implementation of its demerger of NZME LTD DEF NZ (ASX: NZM). NZME Ltd is APN’s New Zealand-based business. The company is expected to merge with Fairfax Media Limited’s (ASX: FXJ) New Zealand assets.

Billabong International Limited (ASX: BBG) announced it will sell its skate hardware brand, Sector 9, for US$12 million to an affiliate of Bravo sports.

Caltex Australia Limited (ASX: CTX) released its 2016 half-year profit outlook with forecast profit after tax in the range of $310 million and $330 million.

Vocus Communications Limited (ASX: VOC) shares have entered a trading halt. Speculation is swirling that the company could be mulling a takeover of NextGen Networks.

Finally, in broker news:

  • Deutsche Bank analysts cut their Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) price target 8.2% to NZ$11.20;
  • Morgans analysts raised their Orocobre Limited (ASX: ORE) price target 29% to $5.66;
  • Morgan Stanley raised their Fortescue Metals Group Limited (ASX: FMG) price target 17% to $2.70, according to Dow Jones Newswires.

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Motley Fool Contributor Owen Raszkiewicz has a financial interest in Vocus Communications. You can follow Owen on Twitter @ASXinvest.

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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