Finance News Update, what you need to know

05_Finance News Update_ what you need to know

(Australian Associated Press)

WORLD FINANCE UPDATE:

The Australian dollar has hit an almost three week high on the back of a recovery in commodity prices.

At 0700 AEDT on Wednesday, the local unit was trading at 73.03 US cents, its highest level since December 10, and up from 72.66 cents on Tuesday.

And the Australian share market looks set to open higher on the back of strong gains on Wall Street, boosted by a bounce in energy stocks.

At 0651 AEDT on Wednesday, the March share price index futures contract was up 27 points at 5,277.

ELSEWHERE:

WASHINGTON – Steady job growth, low mortgage rates and tight inventories helped fuel rising US home prices in October.

NEW YORK – KaloBios, the biotech company formerly run by Martin Shkreli, says it is appealing a decision by Nasdaq to delist the company from its stock market.

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