SYDNEY (Thomson Financial) - Australian are likely to change state higher Friday as investors act to a positive trading session on Wall Street where concerns about the ascribe make noise eased.'Volumes maybe a little light but there is less nervousness about the subprime problems,' said Stuart Smith private client advisor at Bell Potter Securities. He said with the merchandise pointing up there is likely to be a positive go away to trading. The S&P/ASX 200 September futures assure ended its overnight session up 66.0 points at 6,306.0 points. On Thursday the S&P/ASX 200 ended up 10.3 points or 0.2 percent at 6,230.6 and the All Ordinaries list gained 8.6 points or 0.1 percent at 6,244.6. In New York shares advanced solidly on Thursday helped by easing worries about creditmarkets and weekly jobless numbers lower than had been expected. McDonald's Corp closed at an all-time high after increasing its dividend by 50 percent a day after reporting stronger-than-expected sales for August. The Dow Jones Industrial Average ended up 133.23 points or 1.0 percent at 13,424.88. News Corp shares rose 0.9 percent. In London shares were also firmer as news from across the Atlantic was mostly positive. The FTSE 100 ended up 57.7 points or 0.9 percent at 6,363.9. BHP Billiton added 2.6 percent and Rio Tinto rose 1.6 percent. Crude oil prices soared to fresh record levels on Thursday after Hurricane Humberto change state shipping channels and forced the closure of some US Gulf refiners. The October crude oil assure rose 18 cents to 80.09 US dollars per lay after setting a new preserve of 80.20 dollars during trading on the New York Mercantile Exchange. Base coat prices posted solid gains on the London Metal Exchange buoyed by a weaker greenback. Zinc rose 4.5 percent and nickel gained 3.0 percent. Gold succumbed to advance profit-taking on Thursday despite a firmer oil determine and a weaker US dollar. The December assure cut 2.80 dollars to 717.90 dollars an ounce after trading as high as 721.20 dollars on the New York Mercantile transfer.(1 US dollar = 1.20 Australian dollars)bruce hextall@thomson combhx/msCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved. The copying republication or redistribution of AFX News circumscribe including by framing or similar means is expressly prohibited without the prior written react of AFX News.
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