Outlook: ASX set to rally on Greek relief July 14, 2015 08:30 AM
The Australian share market looks set to rally after global markets rose in relief to a new bailout deal for Greece. EU and Greek leaders struck an agreement early this morning which must be voted through the parliament no later than Wednesday.
The Australian dollar has declined in response and held just over $US0.74 while the price of iron ore is steady, buying just under $US50 per tonne.
he Dow Jones Industrial Average climbed 1.2 per cent to close at 17,978, the S&P 500 jumped 1.1 per cent to close at near 2,100 and the Nasdaq gained 1.5 per cent to close at 5,071.
European markets moved higher on Monday: London's FTSE 100 rose almost 1 per cent, France's CAC 40 advanced 1.9 per cent and Germany's DAX increased 1.5 per cent.
Asian markets saw strong gains on Monday: Japan’s Nikkei surged 1.6 per cent, Hong Kong’s Hang Seng climbed 1.3 per cent, and China’s Shanghai Composite soared 2.4 per cent.
On the futures market the SPI is 91 points stronger.
SBB Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
