Outlook: Aus shares set to open higher

Market Reports

Following positive overseas leads, the Australian share market looks set to open higher. US and European indices jumped on comments from ECB president Mario Draghi which suggested the central bank could reconsider further stimulus measures at its December meeting. 
Sales of existing US homes rose 4.7 percent in September, marking its second-highest pace in eight years. Meanwhile US jobless claims also saw a moderate rise to 259,000 in the Labour Department’s weekly read.

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.9 per cent to close at 17,489, the S&P 500 added 1.7 per cent to close at 2,053 and the NASDAQ gained 1.65 per cent to close at 4,920.
European markets closed up: London’s FTSE gained 0.4 per cent, Paris gained 2.3 per cent and Frankfurt gained 2.5 per cent.
Asian markets closed mixed: Tokyo’s Nikkei lost 0.6 per cent, Hong Kong’s Hang Seng lost 0.6 per cent, and China’s Shanghai Composite gained 1.45 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 16 points up to finish at 5,264. On the futures market the SPI is 78 points up. 


The Australian Dollar at 8:50AM was buying $US0.7215 cents, 46.9 Pence Sterling, 87.09 Yen and 65 Euro cents.
Company news
Aspen Group Limited (ASX:APZ) continues to advise shareholders to take no action in relation to invitations from Discovery Parks to selected APPF securityholders to sell their holdings. Aspen Groups and Aspen Parks Property Fund have discovered personalized letters have been sent by Discovery Parks in addition to newspaper advertising in an effort to block the proposed merger of the two groups. Shares in Aspen Group closed 1.07 per cent lower yesterday at $1.38. 
APA Group (ASX:APA) Australian Pipeline Trust has announced a reshuffle to its Board of Directors. Robert Wright has retired as a director, while Mark Knapman is also standing down as company secretary. Steven Crane has been appointed chairman of the Board Audit and Risk Management Committee. Nevenka Codeville will take on the dual role of company secretary and general counsel. Shares in APA Group closed 2.02 per cent up yesterday at $9.09. 

Gold has lost $1.20 to $US1,166 an ounce for the December contract on Comex.
Silver has gained $0.13 to $15.84 for December.
Copper has gained $0.02 to $2.38 a pound.
Oil has gained $0.29 to $US45.49 a barrel for December light crude in New York.