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News: Outlook: Global gains set to push ASX higher



  1. Gains on global and commodity markets are set to elevate the Australian share market into the new week. Ahead of a long weekend Wall Street ended near session highs on Friday after Germany’s benchmark index rose to a record high following upbeat data. On the local front corporate earnings will continue to remain in focus ahead of a busy week of reporting while many Asian markets will break for the Lunar New Year holiday. 
     
    Global markets
     
    Wall Street rose on Friday: The Dow Jones Industrial Average lifted 0.3 per cent to close at 18,019, the S&P 500 lifted 0.4 per cent to close at a record closing high of 2,097 and the Nasdaq lifted 0.8 per cent to close at 4,894.
     
    European markets finished higher on Friday: London's FTSE 100 added 0.7 per cent, France's CAC 40 added 0.7 per cent and Germany's DAX added 0.4 per cent.
     
    Asian markets ended mixed at the end of last week: Japan’s Nikkei fell 0.4 per cent, Hong Kong’s Hang Seng jumped 1.1 per cent, and China’s Shanghai Composite gained almost 1 per cent.
     
    The Australian share market rocketed 2.3 per cent on Friday to erase the weekly loss: The S&P/ASX 200 index rallied 134 points on Friday and gained 57 points over the week to finish at 5,878 points. On the futures market the SPI is 29 points higher. 
     
    Currencies 
     
    The Australian dollar at 8:20am was buying $US0.7781, 50.48 Pence Sterling, 92.15 Yen and 68.31 Euro cents.
     
    Economic news due out today
     
    Australian Bureau of Statistics: New motor vehicles sales figures for January
     
    Reporting season 
     
    Headlining today’s results Bendigo and Adelaide Bank Limited (ASX:BEN) and Aurizon Holdings Limited (ASX:AZJ) will release half year reports. Over the last 2014 financial year regional lender Bendigo and Adelaide Bank improved its net profit by 5.7 per cent while its cash earnings gained almost 10 per cent. Aurizon Holdings posted a 43 per cent drop in its annual net profit following write-downs as its transformation program continued. Shares in Bendigo and Adelaide Bank rose 2.42 per cent on Friday to finish the week at $14.38. 
     
    Shares in Domino's Pizza Enterprises Limited (ASX:DMP) rose almost 27 per cent over the week after posting a 44.2 per cent first half profit jump. The pizza maker also lifted its annual profit guidance and said the new year has started strongly. Shares in Bradken Limited (ASX:BKN) sank more than 27 per cent over the week after the mining services group booked a first half net loss of $93 million. Shares in Domino's Pizza Enterprises gained 4.89 per cent on Friday to finish the week at $34.30. 
     
    Ex-dividends 

    K2 Asset Management Holdings Limited (ASX:KAM) paying a 4 cent fully franked dividend 

    Commodities 

    Gold has gained $6.40 to $US1,227 an ounce for the April contract on Comex. 
    Silver has lifted $0.50 to $17.29 for March. 
    Copper has is steady at $2.60 a pound. 
    Oil has risen $1.51 to $US53.69 a barrel for March light crude in New York. 

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