Australian stock market expected to open higher july 16 2012

Australian stock market expected to open higher july 16 2012 : Australian market is expected to open higher following overseas gains but no dramatic movements are expected this week. the Australian market had already reacted positively to China reporting that economic growth had slowed to a more sustainable pace, it had not gained as much as overseas markets and would need to catch up.

We're already expecting a 33-point gain at the start of trade and I think it's reasonable to expect that we do need to catch up half to three-quarters of 1 per cent, The September share price index futures contract was up yesterday 33 points to 4082.

At the close on Friday the Dow Jones Industrial Average was up 203.82 points (1.62 per cent) to 12,777.09. The S&P 500-stock index added 22.02 (1.65 per cent) to 1356.78, while the tech-rich Nasdaq gained 42.28 (1.48 per cent) to 2908.47.

In Europe at the close on Friday, London's benchmark FTSE 100 index of top companies was up 1.03 per cent to 5666.13 points, Frankfurt's DAX 30 rallied 2.15 per cent to 6557.1 points and in Paris the CAC 40 rose 1.46 per cent to 3180.81 points.

European markets closed for holidays during the week, he did not expect any major changes domestically.

On Tuesday the market would examine the Reserve Bank of Australia's minutes from its July 3 board meeting when it kept the cash rate at 3.5 per cent, Economists will look closely at the minutes to see if there are any changes but the main thing is the Reserve Bank wants to see the next inflation data before cutting interest rates.''

we expected the central bank would cut the cash rate by a quarter of 1 per cent in August.The only other domestic economic data expected this week was national car sales

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