Yes...a Big danger Today ...for Shorts .. Local stocks should...

Yes...a Big danger Today ...for Shorts ..


Local stocks should open higher on the back of a strong rally in global markets.
US stocks were led sharply upwards by energy and financial shares to book their fourth consecutive week of gains and nearly wiping out all the losses for the year.

Analysts say the upbeat outlook comes after investors digested the ECB announcement of further easing measures.

Markets

Wall Street closed higher on Friday:
The Dow Jones Industrial Average gained 1.3 per cent to close at 17,213,
the S&P 500 added 1.6 per cent to close at 2,022
and the NASDAQ advanced 1.9 per cent to close at 4,748.

European markets closed up:
London’s FTSE gained 1.7 per cent,
Paris surged 3.3 per cent
and Frankfurt added 3.5 per cent.

Asian markets closed up: Tokyo’s Nikkei added 0.5 per cent,
Hong Kong’s Hang Seng rose 1.1 per cent,
and China’s Shanghai Composite advanced 0.2 per cent.

The Australian share market closed higher on Friday: The S&P/ASX 200 Index closed 16 points up to finish at 5,166 to add 76 points over the week. On the futures market the SPI is 42 points up.


Company news

MacMahon Holdings Limited (ASX:MAH) says it has been selected by Moreton Resources Limited (ASX:MRV) as its preferred partner for the South Burnett coal project. The two companies will now enter a formal alliance arrangement for the next five years.
Shares in Macmahon Holdings last traded 4.17 per cent higher at $0.125.

Copper has lifted 2 cents to $2.24 a pound.
Oil has added 60 cents to US$40.00 a barrel for April light crude in New York.