THE SHARE MARKET'S CLOSED HIGHER

REACHING A NINETEEN MONTH HIGH... AFTER RISING CONSISTENTLY IN THE PAST FEW MONTHS

THE ASX 200 ADDED THREE QUARTERS OF A PER CENT TODAY.

BOOSTED BY MINERS AFTER METAL AND OIL PRICES SPIKED OVERNIGHT

LOOKING ACROSS THE REGION... MARKETS ARE RISING

THE HANG SENG AT 18 MTH

OVERIGHT WALL STREET SAW A VERY STRONG START TO THE TRADING YEAR... BUOYED BY THE BILL WHICH AVERTS THE WORST OF THE FISCAL CLIFF

OIL PRICES ARE ON THE RISE

AND THE DOLLAR IS BUYING AROUND 105 US CENTS.

US ANALYSTS BELIEVE LAST NIGHT'S GAINS ON WALL STREET WON'T LAST AS NEGOTIATIONS CONTINUE OVER THE DEBT CEILING AND SPENDING.

COMMSEC CHIEF ECONOMIST CRAIG JAMES, IS A LITTLE MORE POSITIVE ABOUT THE OUTLOOK FOR AUSTRALIA.

THE COMPETITION REGULATOR SAYS ITS KEY FOCUS FOR THIS YEAR WILL BE THE DOMINANCE OF AUSTRALIA'S TWO BIGGEST SUPERMARKET RETAILERS

THE AUSTRALIAN COMPETITION AND CONSUMER COMMISSION IS TRYING TO STREAMLINE THE WAY IT ASSESSES TAKEOVERS OF SMALLER STORES BY WOOLWORTHS AND COLES, TO ENSURE THEY DON'T GAIN TOO MUCH MARKET POWER.

LAST MONTH, WOOLWORTHS SNUBBED THE REGULATOR'S PLAN, SAYING IT CREATES MORE RED TAPE.

 

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