Good morning,US Stocks rallied Monday, pushing the Dow back into...

Good morning,

US Stocks rallied Monday, pushing the Dow back into positive territory for the month, as investors cheered a combination of analyst upgrades and corporate deal-making.

The Dow Jones industrial average (INDU) was up 85 points, or 0.8%, according to early tallies. The blue-chip average is now up 0.8% for December. The S&P 500 index (SPX) rose 11 points, or 1.1%.

LONDON - European stock markets surged higher, powered by a strong start to the day on Wall Street and good performances in the oil sector.

Shell rose 2.79 per cent on news reports that it would sell some of its fields in Nigeria worth up to $US5 billion in order to reduce its exposure in the country.

Cairn gained 4.66 per cent after announcing that it would begin underwater oil exploration off the coast of Greenland next year, a year ahead of schedule.

Banks, which suffered losses last week, bounced back.
The London FTSE 100 index added 97.18 points, or 1.87 per cent, to 5,293.99 points.

FRANKFURT - Germany's Dax gained 99.32 points, or 1.7 per cent, to end the day at 5,930.53 points.

PARIS - The CAC 40 index rose 77.62 points, or 2.05 per cent, to finish at 3,872.06.

Crude oil declined as the US dollar climbed against the euro, reducing demand for commodities as an alternative investment.

Leaders of the Organisation of Petroleum Exporting Countries reiterated that the group doesn't plan to change output levels at its meeting on Tuesday in Angola.

Benchmark crude for February delivery was down 71 cents at $US73.71 a barrel on the New York Mercantile Exchange at 0652 AEDT.

The Australian share market should open higher on Tuesday after Wall Street rallied on confidence deriving from several corporate deals.

At 0644 AEDT on the Sydney Futures Exchange, the March share price index contract was 33 points higher at 4,654.

GOLD down $15.50c to US$1096.00 an ounce
SILVER down 28.5c to US$ 17.035 an ounce
COPPER up 2c at US$3.1585 a pound

Today's Financial Calendar
December 22 2009

NZ consumer confidence, Q3
NZ current account, Q3
UK GDP (revision), Q3
US GDP (revision), Q3
US corporate profits, Q3
US existing home sales, Nov
UK current account, Q3
US Richmond Fed factory index, Dec
US FHFA house price index, Oct
UK minutes of BoE meeting

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/