Australian market set to open higher
THE Australian market looks set to open higher on the back of strong gains on Wall Street and a bounce in commodity prices.
THE Australian market looks set to open higher on the back of strong gains on Wall Street and a bounce in commodity prices.
At 0651 AEDT on Wednesday, the March share price index futures contract was up 27 points at 5,277.
Wall Street is one per cent higher as tech stocks rally and energy stocks get a boost from a recovery in crude oil prices. In Australia, the market on Tuesday enjoyed its eighth straight session of gains, with the big banks and retail stocks leading the way.
The benchmark S&P/ASX200 index was up 59.7 points, or 1.15 per cent, at 5,267.3 points.
The broader All Ordinaries index was up 59.5 points, or 1.13 per cent, at 5,315.6 points.
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