The Interconnectivity of Markets - Australian Sharemarket hits 19-month high on US Fiscal Cliff deal

The Australian sharemarket has kicked off the new year with strong gains, hitting a 19-month high as a last-minute deal ended the US "fiscal cliff" crisis that threatened a recession and roiled world financial markets.

At the close, the benchmark S&P/ASX200 index was up 57 points, or 1.2 per cent, at 4705.9, posting its strongest start to a year since 2001

Read more: http://www.smh.com.au/business/markets/shares-start-year-on-a-high-20130102-2c4t3.html#ixzz2GqOUpOPh