TO FINANCE, AND GLOBAL MARKETS HAVE RALLIED IN RESPONSE TO THE DEAL TO AVERT AMERICA'S SO-CALLED FISCAL CLIFF.

WESTPAC'S SENIOR ECONOMIST IN LONDON, JAMES SHUGG SAYS THERE WERE SOME BIG GAINS ON EUROPEAN MARKETS.

##TAKE GRAB##

LET'S HAVE A LOOK AT THE MARKET REACTION TO THE DEAL IN THE U-S.

AND STOCKS ON WALL STREET ARE UP AROUND TWO PER CENT.

THERE WERE SIMILAR GAINS ACROSS EUROPE.

TO COMMODITY PRICES -

WEST TEXAS CRUDE IS TRADING AT 93 U-S DOLLARS A BARREL.

TAPIS CRUDE IS TRADING AT 119 U-S DOLLARS A BARREL.

AND GOLD IS WORTH 16-HUNDRED AND 85 U-S DOLLARS AN OUNCE.

THE AUSTRALIAN DOLLAR IS BUYING 105 U-S CENTS, 80 EURO CENTS AND 65 PENCE STERLING.