Trade Resources Economy Australian Share Market Opened Firmer After Markets in United States Pushed to New Highs

Australian Share Market Opened Firmer After Markets in United States Pushed to New Highs

The Australian share market has opened firmer after markets in the United States pushed to new highs.

On Wall Street overnight, investors were buoyed by a government report pointing to lower-than-expected jobless claims.

The Dow Jones Industrial Average climbed 62.9 points, or 0.42 per cent, to 14,865.14.

IG Markets market strategist Stan Shamu said the local bourse had taken its lead from the continued upward momentum of US markets.

"That sharp drop in unemployment claims (in the US) was quite impressive," Mr Shamu said.

"That really helped US markets, and, in turn, Australian equities are benefiting from this as well."

In the resources sector at 10.19am AEST, Woodside Petroleum was 99c higher at $36.27 after it dumped plans for its controversial $45 billion liquefied natural gas project at James Price Point in Western Australia.

Source: http://www.theaustralian.com.au/business/markets/market-rises-04pc-sparked-by-us-highs/story-e6frg916-1226618952049
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Market Rises 0.4PC Sparked by US Highs
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