Australian shares are poised to start the week on a high note following a rally on Wall Street last Friday.
On Jan. 3, the Nasdaq Composite climbed 1.8%, the S&P 500 rose 1.3%, and the Dow Jones Industrial Average grew 0.8%.
In macroeconomic news, the S&P Global Australia Services PMI Business Activity Index rose to 50.8 in December 2024 from 50.5 in November. A rise in new business helped drive the measure's 11th straight month of growth.
In corporate news, Insignia Financial (ASX: IFL) received a confidential, non-binding and indicative proposal from CC Capital Partners to acquire the company at a price of AU$4.30 cash per share.
Norges Bank Investment Management acquired Canada Pension Plan Investment Board's 45% interest in Goodman Group's (ASX:GMG) Goodman North American Partnership (GNAP).
Gold Road Resources (ASX:GOR) logged a record production of 91,631 ounces of gold at its Gruyere joint venture in Western Australia in the December 2024 quarter, compared with 68,781 ounces of gold in the prior three-month period.
Australia's benchmark index rose 0.6%, or 49.30 points, on Jan. 3 to close at 8,250.50.
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