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ASX 200 to jump on Tuesday: 8 shares you need to watch today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to rise for its sixth consecutive session today following a very positive lead set by its international counterparts overnight. The futures market is pointing to a 17-point gain at the open.

Here’s a quick recap:

  • FTSE 100 (UK): up 0.28%
  • DAX (Germany): up 0.92%
  • CAC 40 (France): up 1.24%
  • Dow Jones (USA): up 0.7%
  • NASDAQ (USA): up 0.52%

Watch BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) again. After the trio rose between 2.2% and 6.2% on Monday, they could be in for another solid session after the iron ore price rallied another 6.5%.

According to The Metal Bulletin, the resource is now trading for US$92.23 a tonne. Gold and oil, on the other hand, both recorded declines overnight.

Earnings season will also continue to dominate headlines today. Cochlear Limited (ASX: COH) reported a 4% increase in sales revenue this morning with net profit rising 19%.

Retail business Nick Scali Limited (ASX: NCK) also reported a strong rise in earnings, up a whopping 44.7% on the back of a 15.5% increase in revenue.

Challenger Ltd (ASX: CGF) reported its half-year results as well. Normalised profit rose 8%, with normalised earnings per share rising 7.4%.

And MNF Group Ltd (ASX: MNF) managed to increase its own net profit result by 21% to $4.9 million for the first half, with revenue rising 9% as well.

It’s also worth keeping an eye on JB Hi-Fi Limited (ASX: JBH) today. The retailer’s shares rose strongly on Monday off the back of a strong earnings report, with further gains possible today.

Before getting started on your day, be sure to check out these two articles:

  1. 5 income shares I’d love to buy with $5,000 today
  2. Why I’m steering clear of iCar Asia Ltd shares

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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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