The West

ASX tipped to start year in the black

The Australian sharemarket is expected to follow a strong lead from Wall Street as it looks like the US will avoid the so called fiscal cliff.

Legislation to roll back a series of tax hikes and spending cuts that threatened to send the US back into recession has passed the Senate and is awaiting passage through the Republican-controlled House of Representative.

On Monday, optimism about a successful deal between the White House and Congress sent US shares higher, with the Dow Jones index rising 1.28 per cent to 13,104.14 points.

However, earlier on New Year's Eve, Australia's benchmark S&P/ASX200 index closed a shortened session down 22.4 points, or 0.48 per cent, at 4648.9 points, while the broader All Ordinaries index fell 20.7 points, or 0.44 per cent, to 4664.6 points. On the ASX 24, the March 2013 share price index futures contract was 30 points lower at 4616 points, on volume of 14,233 contracts traded.

During the local session on Wednesday The Australian Industry Group will release its performance of manufacturing (PMI) index for December.

The West Australian

Latest News From The West

If they genuinely want to get same-sex marriage achieved, and as soon as possible, Labor and the Greens need to do some hard thinking.

Kabul (AFP) - Islamic State jihadists claimed responsibility for twin explosions Saturday that ripped through crowds of Shiite Hazaras in Kabul, killing at least 80 people and wounding 231 others in …

West Coast have dodged an upset and a major bullet that could have derailed their top four prospects, snatching a six point win against Melbourne at Domain Stadium.

Six men who sparked a mid-air brawl on a Jetstar flight can expect to be hit with heavy fines after they return home under police guard.

Popular videos