Consolidation makes it expensive, page-9

The Miners Rally Continues ..Higher ..

Gold has gained $2.90 to $US1,261 an ounce for the June contract on Comex.
Silver has gained $0.25 to $16.22 for May.
Copper has gained $0.06 to $2.15 a pound.
Oil has gained $1.75 to $US43.50 a barrel for May light crude in New York.

IO is up 2.50 to 58.60

A Great for Miners and Oil Drillers

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Following positive leads, the Australian share market looks set to open higher on this Wednesday. Shares on Wall Street rallied overnight. Oil prices hit a four-month high on reports of a production freeze by Russia and Saudi Arabia, giving shares in the energy space a boost.

Markets

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 0.9 per cent to close at 17,721, the S&P 500 added almost 1 per cent to close at 2,062 and the NASDAQ gained 0.8 per cent to close at 4,872.

European markets closed up: London’s FTSE gained 0.7 per cent, Paris gained 0.8 per cent and Frankfurt gained 0.8per cent.

Asian markets closed mixed: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, and China’s Shanghai Composite fell 0.3 per cent.

The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 44 points up to finish at 4,976.

On the futures market the SPI is 42 points up.

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