UK’s FTSE 100 increased by 55 points (+1%) to settle at 5,850, while the DAX (+1.1%) and CAC (+1.5%) rose as well. With regards to commodities, gold strengthened due to the BoJ’s announcement of an increase in its asset purchase program.
Crude oil climbed 14 cents to $85.54 due to speculation that demand for oil will rise in the aftermath of the Hurricane Sandy. The US dollar weakened against major currencies overnight, as some risk appetite returned to European equity markets.
The euro strengthened due to reports that the Spanish economy contracted less than expected in the third quarter. The yen also strengthened due to the BoJ’s announcement regarding the asset purchase program.
Finally, the British pound strengthened as well, mainly because of increases in retail sales. In local company news, NAB has reported a 22% slump in FY12 net profit, with its UK business again dragging on the company’s results.
Today’s session will see the Australian Bureau of Statistics’ release of building approvals (11:30am, AEDT).