Shares up on strong overseas leads: Afternoon market insights

The Australian Share Market rose 1% higher today after strong overnight activity in the US and Europe.

At 2.30 today, the ASX 200 has risen 1.28% to 4176.20 while the broader All Ordinaries index has increased 1.21% to 4206.70.

Miners and energy stocks are among the best performers with BHP rising 2.32% to 30.88.

The dollar continues to rise and, at the time of publication, it was buying $US1.03905

The major announcement was news Jack Cowin is joining the Fairfax board. Cowin is the founder of Hungary Jack’s and advisor to Hancock Prospecting’s chairman: Gina Rinehart. The body representing Fairfax journalists has welcomed the announcement, but it has so far failed to rally investors. Fairfax’s shares fell 0.53% to 0.562.

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