Local stocks opened higher Friday as gains on Wall Street and strength in commodity markets lifted the market. After briefly trading above 5,200 points, the ASX index gave back part of early gains in late morning trade, but remained in positive territory with the major miners and banks leading the way. There were mixed results from the sectors; materials gained most significantly while health care posted the biggest losses. The Australian dollar was up against other major currencies.

Asian shares headed for a fifth straight week of gains, their best run in over two years, as the week's thumping for the US dollar, soothing central bank noises and a 2016 high for oil, boosted confidence.

Britain's top share index has steadied at the close, consolidating a week in which shares have closed in on their 2016 highs, although commodity stocks paused after a strong run.

US stocks ended higher on Friday and the major indexes notched up their fifth consecutive weekly gain. The US crude oil benchmark pared early gains to end lower on Friday, but crude was still higher for the week.

The Australian market looks set to open higher with the SPI Futures up 29 points after gains on Wall Street as the US Federal Reserve's dovish tone and a strengthening economic outlook compelled investors to take on more risk.

Crowe Horwath Australasia Ltd. issued this content on 21 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 March 2016 00:29:56 UTC

Original Document: http://www.crowehorwath.net/AU/news/daily-market-summary.aspx