The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) is expected to open slightly higher on Friday, with Bellamy’s Australia Ltd (ASX: BAL), Yowie Group Ltd (ASX: YOW) and IMF Bentham Ltd (ASX: IMF) shares in focus.
Here’s a quick recap of global markets:
- FTSE 100 (UK): down 0.06%
- DAX (Germany): up 0.4%
- CAC 40 (France): up 0.4%
- Dow Jones (USA): up 0.3%
- NASDAQ (USA): up 0.3%
In London, the FTSE continued to grapple with the government’s decision to trigger Article 50 earlier this week, with the pound rebounding. FTSE-listed shares of BHP Billiton Limited (ASX: BHP) ended up 0.7%.
Across the pond, US markets ended in the green with the financials and industrials sectors leading gains.
Closer to home, the ASX 200 is expected to open slightly positive.
Shares in focus will include IMF Bentham Ltd. This morning, the litigation funder said a confidential case settlement will generate revenue of $4.17 million and a profit before tax of $2.1 million.
Also in focus will be shares of Bellamy’s Australia Ltd. Yesterday, the infant formula company revealed that its canning facility with Bega Cheese Ltd (ASX: BGA) would not receive Chinese regulatory approval before the government’s deadline. The Bellamy’s share price slumped on the news.
Another big mover yesterday was Yowie Group Ltd, which rose 23% despite no news being released by the small company.
Speculative mining company turned marijuana prospect Queensland Bauxite Ltd (ASX: QBL) has announced the next phase of its research and cultivation project.
Finally, in broker news, Canaccord Genuity analysts initiated coverage of Nextdc Ltd (ASX: NXT) shares with a ‘buy’ rating and $4.85 price target, while Macquarie analysts raised their Genworth Mortgage Insurance Australia (ASX: GMA) price target 1.7% to $3.62, according to Dow Jones Newswires.
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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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