Australian share prices are expected to post another positive performance this week after finishing Friday just shy of record highs, dealers said.
They said recent gains had resulted in the market clawing back sharp losses suffered in October, traditionally a troubled month for equity markets, and in the wake of Hurricane Katrina.
Ausbil Dexia equities director Paul Xiradis said markets had gained confidence as the threat posed by high oil prices and the prospect of rising inflation had eased. For the week ending November 18, the benchmark SP/ASX 200 index was up 96.8 points or 2.1 percent at 4,671.1, just 0.6 points of its all-time record set last September 29.
The Australian market is also expected to take its lead from Wall Street this week in the absence of any local data. Mining giant BHP Billiton will hold its annual general meeting on Friday.