The major US indices all closed more than 1 per cent higher on the back of solid earnings results from Caterpillar Inc. (NYSE:CAT) and 3M Co. (NYSE:MMM), the spike was also helped along by a strong close in Europe.

 

Global figures

Wall Street closed up yesterday: The Dow Jones Industrial Average gained 1.3 per cent to close at 16,678, the S&P 500 added 1.2 per cent to close at 1,951 and the NASDAQ is up 1.6 per cent to close at 4,453.

 

European markets closed up: London’s FTSE gained 0.3 per cent, Paris is up 1.3 per cent and Frankfurt gained 1.2 per cent.

 

Asian markets closed lower : Tokyo’s Nikkei lost 0.4 per cent, Hong Kong’s Hang Seng is down 0.3 per cent, and China’s Shanghai Composite lost 1 per cent.

 

The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 3 points down to finish at 5,383. On the futures market the SPI is 17 points up. 

 

Turning to currencies and the Australian Dollar at 7:30AM was buying $US0.8761 cents, 54.65 Pence Sterling, 94.82 Yen and 69.27 Euro cents.

 

Company news

 

Neptune Marine Services Limited (ASX:NMS) has extended a contract with Monadelphous Group Limited (ASX:MND) worth $10 million. 

 

Speedcast International Limited (ASX:SDA) has appointed Keith Johnson as Senior Vice President /GM in charge of energy services globally. 

 

Commodities

Gold is down $16.40 to $US1,229 an ounce for the December contract on Comex.
Silver is down $0.07 to $17.16 for December.
Copper is up $0.02 at $3.04 a pound.
Oil is up $1.57 at US$82.09 a barrel for December light crude in New York.