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Australian Stocks Set to Start Higher
Source: www.news.com.au
Source Date: Wednesday, December 21, 2016
Focus: ICT for MDGs, Institution and HR Management
Country: Australia
Created: Dec 26, 2016

THE Australian share market is set to open slightly higher on the back of overnight gains in the US markets, where a rally fuelled by optimism about President-elect Donald Trump’s policies has continued.

At 0655 AEDT on Wednesday, the local SPI 200 futures contract was up 10 points, or 0.18 per cent, at 5,562 points.

In local economic news, the Westpac-Melbourne Institute Leading Indexes of Economic Activity, which indicates the likely pace of economic activity three to nine months into the future, will be released later on Wednesday. The Australian share market closed at a 16-month high on Tuesday, thanks partly to offshore markets’ Trump-fuelled rallies, with strong gains locally coming from retailers and banks.

The benchmark S&P/ASX 200 index closed 29 points, or 0.52 per cent higher, at 5,591.1 points. The broader All Ordinaries index ended up 27.2 points, or 0.48 per cent, at 5,640 points.

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