The Australian share market looks set for a positive start to the week. Strong results from Microsoft, Alphabet and Amazon on Friday pushed Wall Street to finish the week higher, compounded by an unexpected rate cut in China late in trade.
Wall Street closed up on Friday: The Dow Jones Industrial Average gained 0.9 per cent to close at 17,647, the S&P 500 added 1.1 per cent to close at 2,075 and the NASDAQ gained 2.27 per cent to close at 5,032.
European markets closed up: London’s FTSE gained 1 per cent, Paris gained 2.5 per cent and Frankfurt gained 2.9 per cent.
Asian markets closed up: Tokyo’s Nikkei added 2.1 per cent, Hong Kong’s Hang Seng gained 1.3 per cent, and China’s Shanghai Composite gained 1.3 per cent.
The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 88 points up to finish at 5,352 to be 83 points up on the week. On the futures market the SPI is 55 points up.
Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7212 cents, 47.10 Pence Sterling, 87.52 Yen and 65.54Euro cents.
Australian Industrial REIT (ASX:ANI)
bidder 360 Capital Industrial Fund is set to proceed with a compulsory acquisition of the company. 360 Capital Industrial Fund announced that it had accumulated a relevant interest in Australian Industrial REIT of more than 90.1 percent. ANI shareholders are advised to accept the offer prior to its close at 5pm today. Shares in Australian Industrial REIT closed steady on Fridayat $2.30.
Ariadne Australia Limited (ASX:ARA)
has entered into conditional agreements to dispose of its interests in both the Port Macquarie and Batemans Bay marinas. The company said the conditional sale agreements are in line with book value and are expected to complete late December 2015. Shares in Ariadne Australia closed steady on Friday at $.355.
| Name || Code || Date || Amount(cents) || Franking |
| Opus Group Ltd || OPG || 26/10/15 || 1.0 || 100 |
Gold has lost $2.10 to $US1,164an ounce for the December contract on Comex.
Silver has lost $0.03 to $15.81 for December.
Copper has lost $0.04 to $2.35 a pound.
Oil has lost $0.65 to $US44.73 a barrel for Decemberlight crude in New York.