The Australian share market looks set to open comfortably higher after Wall Street lifted on strong US jobs figures, Europe rose on a Brexit breakthrough and Asian indexes gained after economic news beat expectations.
At 0700 AEDT on Monday, the share price futures index was up 23 points, or 0.38 per cent, at 5,6,024.
In the US, nonfarm payrolls rose by 228,000 jobs in November, Labor Department data showed, topping expectations calling for a rise by 200,000 jobs, while average hourly earnings rose 0.2 per cent.
In Europe, Britain and the European Union struck a divorce deal paving the way for talks on future trade ties, easing immediate pressure on Prime Minister Theresa May and boosting hopes of an orderly Brexit.
In Asia, revised data showed Japan’s economy growing twice as fast as first thought as business spending jumped, while Beijing reported exports surged 12.3 per cent in November from a year earlier, more than double the forecast, while imports climbed almost 18 per cent.
Wall Street, following on from European and Asian markets, gained around half a per cent, giving Australia’s indexes a strong positive lead.
The Dow Jones Industrial Average rose 0.49 per cent, the S&P 500 gained 0.55 per cent and the Nasdaq Composite added 0.4 per cent.
Locally, in economic news on Monday, the CoreLogic capital city house prices survey for the December 10 is due out.
In equities news, Oroton is slated to have its first creditors meeting in Sydney, after the luxury handbag retailer went into voluntary administration on November 30.
The Australian market on Friday closed comfortably higher with an end-of-week rally across most sectors, led by a jump in energy stocks.
The benchmark S&P/ASX200 index closed up 16.7 points, or 0.28 per cent, at 5,994.4 points.
The broader All Ordinaries index rose 16.6 points, or 0.27 per cent, to 6,077.4 points.
Meanwhile, the Australian dollar is fractionally lower against the greenback which lifted following the better-than-expected jobs figures.
The local currency was trading at 74.11 US cents at 0700 AEDT on Monday, from 75.14 on Thursday.
CURRENCY SNAPSHOT AT 0700 AEDT:
One Australian dollar buys:
* 75.11 US cents, from 75.14 on Friday
* 85.28 Japanese yen, from 85.20 yen
* 63.85 euro cents, from 63.86 euro cents
* 56.11 British pence, from 55.61 pence
* 109.76 NZ cents, from 109.89 cents
The spot price of gold in Sydney at 0700 AEDT was $US1,248.08 per fine ounce, from $US1,249.28 per fine ounce on Friday.
BOND SNAPSHOT AT 0700 AEDT:
* CGS 4.50 per cent April 2020, 1.8628pct, unchanged
* CGS 4.75pct April 2027, 2.4911pct, unchanged
Sydney Futures Exchange prices:
* December 2017 10-year bond futures contract at 97.450 (implying a yield of 2.550pct), from 97.455 (implying a yield of 2.545pct) on Friday
* December 2017 3-year bond futures contract at 98.03 (1.97pct), unchanged.
(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)