Further gains in the dollar overnight and higher commodity prices are setting an upbeat tone for local stocks ahead of the weekend.
The ASX also has a favourable lead from US stocks which entered positive territory for the first time this year after soaring commodity prices and a jump in crude oil futures spurred a strong rally.
Markets
Wall Street closed up: The Dow Jones Industrial Average gained 0.9 per cent to close at 17,481, the S&P 500 advanced 0.7 per cent to close at 2,041 and the NASDAQ lost 0.2 per cent to close at 4,775.
European markets closed mixed: London’s FTSE added 0.4 per cent, Paris lost 0.5 per cent and Frankfurt slipped 0.9 per cent.
Asian markets closed mixed: Tokyo’s Nikkei slipped 0.2 per cent, Both the Hang Seng and China’s Shanghai Composite rose 1.2 per cent.
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 49 points up to finish at 5,168. On the futures market the SPI is 36 points higher.
Currencies
The Australian Dollar at 7:35AM was buying 76.45 US cents, 52.82 Pence Sterling, 85.20 Yen and 67.58 Euro cents.
Company news
Ausdrill Limited
(ASX:ASL) says it has sold its DT HiLoad truck tray manufacturing business to Schlam Engineering. The sale is expected to realise up to $8 million for the mining services company over a three year period. Ausdrill has slowly been exiting from non-core and underperforming assets. Shares in Ausdrill last traded 1.11 per cent higher at $0.455.
Cue Energy Resources Limited
(ASX:CUE) says CEO David Biggs will resign effective 15 April. A replacement will be announced in due course.
Shares in Cue last traded 5 per cent higher at $0.06.
Commodities Gold has added $28.30 to US$1,258 an ounce for the April contract on Comex. Silver is up 72 cents to $15.94 for May. Copper has advanced 6 cents to $2.29 a pound. Oil has jumped $1.69 to $US41.69 a barrel for April light crude in New York.
| Name | Code | Date | Amount(cents) | Franking |
| Beyond International | BYI | 18/03/16 | 5.0 | 0 |
| Gale Pacific Limited | GAP | 18/03/16 | 0.8 | 0 |
| K & S Corporation | KSC | 18/03/16 | 1.5 | 100 |
| McPherson's Ltd | MCP | 18/03/16 | 6.0 | 100 |
| Primary Health Care | PRY | 18/03/16 | 5.6 | 50 |
| Qv Equities Limited | QVE | 18/03/16 | 1.5 | 100 |
| Qv Equities Limited - Deferred Ex Option | QVEN | 18/03/16 | 1.5 | 100 |
| Sth Crs Elect Engnr | SXE | 18/03/16 | 1.4 | 100 |
| Think Childcare Ltd | TNK | 18/03/16 | 7.2 | 33.33 |
| The Reject Shop | TRS | 18/03/16 | 25.0 | 100 |
| Vocus Comms Ltd | VOC | 18/03/16 | 7.6 | 100 |
| Vocus Comms Ltd | VOC | 18/03/16 | 1.9 | 100 |
| COSTA GROUP HOLDINGS | CGC | 21/03/16 | 3.0 | 100 |
| Chorus Limited | CNU | 21/03/16 | 7.4 | 0 |
| Neometals Ltd | NMT | 21/03/16 | 2.0 | 0 |
| Patties Foods Ltd | PFL | 21/03/16 | 2.7 | 100 |
| PMP Limited | PMP | 21/03/16 | 1.2 | 0 |
| Cml Group Ltd | CGR | 22/03/16 | 0.5 | 100 |
