SYDNEY (AFX) - Share prices are expected to trade higher following a positive lead from Wall Street where investors on Friday took encouragement from indications of solid economic growth in the US, dealers said.
They said offshore markets showing strength will encourage investors to reassess the Australian market which has in recent weeks has failed to provide forward momentum.
Dealers said market attention today may center on Australia's largest transport group, Toll Holdings following it gaining conditional clearance during the weekend for its 4.6 mln aud bid for ports operator, Patrick Corp.
Elsewhere, trading is likely to be sedate as investors continue to see whether recent outlook statements, contained in December half earnings report, warrant pushing prices higher.
On Friday, share prices closed marginally lower as investor sentiment remained flat and trading was largely sideways, continuing the trend for much of the week.
The S&P/ASX200 March futures contract ended its last session up 25.0 points suggesting a positive start to trading.
On Friday, the S&P/ASX 200 slipped 6.3 points or 0.13 pct to close at 4,888.1. Over the trading week the index lost 10.4 points or 0.2 pct.
The All Ordinaries Index on Friday eased 6.0 points to end at 4,849.4.
In New York, share prices rose after investors took the view that the US economy can continue to record solid growth even with further modest interest rate hikes.
A further easing in oil prices also helped investor sentiment.
The Dow Jones Industrial Average index rose by 104.06 points or 1.0 pct.
News Corp added 0.23 pct while National Australia Bank ADRs gained 0.35 pct.
In London, BHP Billiton advanced 1.57 pct while Rio Tinto gained 1.72 pct. Crude oil prices fell for the fifth time in six sessions on Friday with traders responding to signs of ample US stockpiles. Data released last week showed that US crude stockpiles hit their highest levels since May 1999.
The April Nymex contract fell 0.51 usd to 59.96 usd a barrel.
Base metal prices rose in London on Friday with short-covering dominating in thin trading conditions. But gold prices eased in New York trade, buffeted by speculative liquidation after the greenback rose in response to the solid US payrolls report.
The Comex April quote gold fell 5.70 usd to 541.30 usd an ounce as a stronger-than-expected reading on jobs and firm wage growth in the US parked inflationary concerns.
(1 usd = 1.37 aud)
bruce.hextall@xfn.com
They said offshore markets showing strength will encourage investors to reassess the Australian market which has in recent weeks has failed to provide forward momentum.
Dealers said market attention today may center on Australia's largest transport group, Toll Holdings following it gaining conditional clearance during the weekend for its 4.6 mln aud bid for ports operator, Patrick Corp.
Elsewhere, trading is likely to be sedate as investors continue to see whether recent outlook statements, contained in December half earnings report, warrant pushing prices higher.
On Friday, share prices closed marginally lower as investor sentiment remained flat and trading was largely sideways, continuing the trend for much of the week.
The S&P/ASX200 March futures contract ended its last session up 25.0 points suggesting a positive start to trading.
On Friday, the S&P/ASX 200 slipped 6.3 points or 0.13 pct to close at 4,888.1. Over the trading week the index lost 10.4 points or 0.2 pct.
The All Ordinaries Index on Friday eased 6.0 points to end at 4,849.4.
In New York, share prices rose after investors took the view that the US economy can continue to record solid growth even with further modest interest rate hikes.
A further easing in oil prices also helped investor sentiment.
The Dow Jones Industrial Average index rose by 104.06 points or 1.0 pct.
News Corp added 0.23 pct while National Australia Bank ADRs gained 0.35 pct.
In London, BHP Billiton advanced 1.57 pct while Rio Tinto gained 1.72 pct. Crude oil prices fell for the fifth time in six sessions on Friday with traders responding to signs of ample US stockpiles. Data released last week showed that US crude stockpiles hit their highest levels since May 1999.
The April Nymex contract fell 0.51 usd to 59.96 usd a barrel.
Base metal prices rose in London on Friday with short-covering dominating in thin trading conditions. But gold prices eased in New York trade, buffeted by speculative liquidation after the greenback rose in response to the solid US payrolls report.
The Comex April quote gold fell 5.70 usd to 541.30 usd an ounce as a stronger-than-expected reading on jobs and firm wage growth in the US parked inflationary concerns.
(1 usd = 1.37 aud)
bruce.hextall@xfn.com