Why IMU is a multi multi bagger, page-19798

Might be a good trading day on the ASX.

European and US markets had healthy rises over night.

In Europe, the FTSE rose 23 points (.31%), the DAX rose 93 points (.56%) and the CA was fairly flat and rose 5 points (.08%).

Data out showed the Eurozone inflation for November sat at 2.4% - dropping .6% from October - this was a better drop than was expected.

Core inflation was 3.6% - down from 4.2% in October. Interesting stat was that inflation for food, alcohol and tobacco was at 6.9% (down from 7.4% in October. Energy prices were down 11.5% from 12 months ago.

In the US, the stock market rally continued.

The DOW rose 251 points (.68%), the NBI rose 63 points (1.51%), the NASDAQ Composite rose 98 points (.66%) and the Russell small cap index rose 38 points (1.94%).

Good to see the healthy rise in the NBI. Could lend some support for the biotech sector on the ASX.

Oil prices rose - again because of the disruption of transits in the Red sea. One stat that came out is that it costs US$1mil extra in fuel for an oil tanker to take the alternate route to Europe around Africa. Brent crude at US$79.50 per barrel.

Gold price firmed - at US$2,040 per ounce.

US 10 year bond yield at 3.92%.