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AUSTRALIAN SHAREMARKET EXPECTED TO START WEEK ON POSITIVE NOTE.
SYDNEY, June 2 Asia Pulse - The Australian sharemarket should get off to a positive start after offshore markets made strong gains over the course of last week.
On Wall Street, stocks rose in heavy trading on Friday, giving the S&P 500 and Dow Jones their third straight monthly gains for the first time since late 2001.
The Standard & Poor's 500 climbed 13.95 points to 963.59, its highest close since early July, while the blue-chip Dow Jones industrial average jumped 139.08 points to 8,850.26, its highest close this year.
The tech-loaded Nasdaq composite rose 20.96 points to 1,595.91, ending at its highest level for 12 months.
In London, UK stocks fell on Friday, but the mood remained upbeat as the market sealed a second straight monthly gain and investors took heart from good economic data.
The FTSE 100 index finished at 4,048.1 points, down 35.5 points on the day but three per cent above where it started the month and also up on the week.
On the local market, Lend Lease is expected to continue its decline after last week's announcement of a second US$300 million writedown for the year on its Real Estate Investments (REI) arm.
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Source: HighBeam Research, AUSTRALIAN SHAREMARKET EXPECTED TO START WEEK ON POSITIVE NOTE.