Good morning,
US Stocks gained Monday, with the three leading indexes finishing at new 14-month highs, after Citigroup said it will repay its government bailout funds and Dubai received $10 billion to cover its debt, easing worries that the emirate might default on billions it owes.
The weak dollar also helped, lifting commodity shares and the stocks of companies that do a lot of business overseas.
The Dow Jones industrial average (INDU) rose 30 points, or 0.3%, according to early tallies, closing at the highest point since Oct. 1, 2008.
Analyst said "The market has shown some extraordinary strength here, but I think we're moving into a period of greater volatility. This market is running a lot more on emotion now, rather than fundamentals,"
LONDON - European markets mostly rose on Monday after Dubai said it had received $US10 billion ($A10.98 billion) in emergency funds from its oil-rich neighbour, Abu Dhabi, helping to allay investor fears that the emirate might default on its debt.
The FTSE 100 index of leading British shares closed up 53.77 points, or 1.02 per cent, at 5,315.34.
FRANKFURT - Germany's DAX index rose 45.97 points, or 0.8 per cent, to 5,802.26.
PARIS - The CAC-40 in France ended 26.72 points higher, by 0.7 per cent, at 3,830.44.
Oil prices fell for the ninth straight day on Monday on persistent concerns about high inventories and weak demand.
At 0650 AEDT on Tuesday, the benchmark crude oil for January delivery contract delivery was 33 US cents weaker at $69.54 on the New York Mercantile Exchange.
The Australian stock market has received a mixed set of leads from Monday night's offshore trading session.
While Wall Street was higher in late afternoon trade and metals prices firmer, the price of crude oil was weaker.
At 0645 AEDT on the Sydney Futures Exchange, the December share price index contract was nine points lower at 4,665.
GOLD up $3.90c to US$1123.80 an ounce
SILVER up 25c to US$ 17.340 an ounce
COPPER down 1.9c at US$3.1520 a pound
Today's Financial Calendar
December 15 2009
NZ half year update
Australia minutes of RBA meeting
Australia dwelling starts, Q3
EU ZEW business sentiment survey, Dec
UK consumer price index (CPI), Nov
US Treasury international capital (TIC) flows, Oct
US producer price index (PPI), Nov
US Empire State (NY) manufacturing index, Dec
US industrial production and capacity utilisation, Nov
Australia public spending, Q3
US NAHB housing market index, Dec
(ERC) - Annual General Meeting
(ILF) - Annual General Meeting
(KGL) - Annual General Meeting
(TGA) - Ex div. 2.56c
(IRL) - Annual General Meeting (10:00 AM)
http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/
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