asxxxxxxxxxxxxThe Australian market is set to start the new trading week on a positive note after Wall Street posted solid gains Friday as another asset sale added to the US market’s deal frenzy.

The benchmark S&P/ASX200 index was up 36.2 points, or 0.61 per cent, at 5,968.4, while the broader All Ordinaries index was up 33.9 points, or 0.57 per cent, at 5,935.4. Energy and consumer staple stocks were the best performers, with the banks mixed and miners lower.

Earlier in the week we saw great uncertainty due to china’s inflation figures, which indicate a slowdown. Increased cost of goods affected local resource groups and commodities are looking like they’re headed further south.

On Wall Street, big gains in petroleum stocks lifted the market as investors bet on more large energy mergers following Royal Dutch Shell’s takeover of BG Group. With a budget on the way, expect some more uncertainty as the market plays the guessing game.

That’s the market in review

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