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Outlook: Aus shares set to open higher October 26, 2015 08:20 AM


The Australian share market looks set for a positive start to the week. Strong results from Microsoft, Alphabet and Amazon on Friday pushed Wall Street to finish the week higher, compounded by an unexpected rate cut in China late in trade.

Markets

Wall Street closed up on Friday:
The Dow Jones Industrial Average gained 0.9 per cent to close at 17,647,
the S&P 500 added 1.1 per cent to close at 2,075
and the NASDAQ gained 2.27 per cent to close at 5,032.

European markets closed up:
London’s FTSE gained 1 per cent,
Paris gained 2.5 per cent
and Frankfurt gained 2.9 per cent.

Asian markets closed up:
Tokyo’s Nikkei added 2.1 per cent,
Hong Kong’s Hang Seng gained 1.3 per cent,
and China’s Shanghai Composite gained 1.3 per cent.

The Australian share market closed higher on Friday:
The S&P/ASX 200 Index closed 88 points up to finish at 5,352 to be 83 points up on the week.

On the futures market the SPI is 55 points up.

Turning to currencies and the Australian Dollar at 7:20AM was buying $US0.7212 cents,