Bouncing oil and commodity prices have led US stocks higher providing a positive lead for local markets.
All major sectors in the US were higher with energy stock posting the biggest gains.
Meanwhile, comments from ECB president Mario Draghi gave hope that there would be further easing of monetary policy in the Eurozone which in turn lifted equities there.
Markets
Wall Street closed higher yesterday: The Dow Jones Industrial Average gained 0.7 per cent to close at 15,883, the S&P 500 added 0.5 per cent to close at 1,869 and the NASDAQ was effectively flat at 4,472.
European markets also closed higher: London’s FTSE advanced 1.8 per cent, Paris gained 2 per cent and Frankfurt added 1.9 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 2.4 per cent, Hong Kong’s Hang Seng shed 1.8 per cent, and China’s Shanghai Composite slipped 3.2 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 22 points up to finish at 4,864. On the futures market the SPI is 24 points higher.
Currencies
The Australian Dollar at 8.30AM was buying 70.1 US cents, 49.28 Pence Sterling, 82.59 Yen and 64.45 Euro cents.
Economic news
Due out today from the Housing Industry Associated are new homes sales for November.
Company news
Treasury Wine Estates Limited
(ASX:TWE) says that preliminary accounts indicate half year profit will fall in the range of $140 million to $150 million. This is well above analyst expectations of $120 million. The Asian region has done well from increased shipments ahead of Chinese New Year next month. Shares in Treasury Wine Estates last traded up 1.15 per cent at $7.90.
AHA Life Holdings
(ASX:AHL) says it has achieved record growth of 145 per cent during the December quarter with $4million booked thanks in part to strong Christmas sales. Users of the online luxury shopping platform grew by 108 per cent over the past 12 months with the company saying user growth is well ahead of expectations. AHA Life last traded down 0.91 per cent at $0.55.
Commodities
Gold has slipped $5.10 to $US1,101 an ounce for the February contract on Comex. Silver has lost 7 cents to $14.09 for March. Copper gained 4 cents to to $2.00 a pound. Oil is $1.38 higher at US$29.73 a barrel for February light crude in New York.
