Shares start week higher on positive European sentiment: Afternoon market insights

The Australian sharemarket finished higher today as markets begin to improve on growing investor sentiment Europe will be able to emerge from its current financial turmoil.

The benchmark S&P/ASX200 index was up 35.6 points or 0.88% to 4064.8, while the broader All Ordinaries index was trading 0.85% higher at 4115.90. The positive investor sentiment flowed through to the Australian dollar, up to $US 0.986, its highest level in almost a week.

In the United States, the Dow Jones Industrial Average closed out last week down 0.6% or 74 points to 12,454.8