The Australian share market looks set to open sharply higher after Wall Street’s main indexes take little notice of stronger-than-expected inflation data and rise more than one per cent.

At 0700 AEDT on Thursday, the share price futures index was up 46 points, or 0.79 per cent per cent, at 5,836.

Meanwhile, the Australian dollar has jumped above 79 US cents against a languishing US counterpart.

The local currency was trading at 79.11 US cents at 0700 AEDT on Thursday, from 78.77 on Wednesday.


WASHINGTON, DC – US consumer prices, excluding the volatile food and energy categories, rose 0.3 per cent last month, the most in a year.

BERLIN – Strong exports drove robust growth in Germany at the end of last year while inflation stayed subdued in January, suggesting Europe’s biggest economy is on track to extend its upswing well into 2018.

AMSTERDAM – An offshore seaweed farm in the North Sea will be turned into a large solar power farm that aims to pipe energy to the Dutch mainland in roughly three years.