Australian market up almost 1pc European and UK stocks recovered after Tuesday's heavy losses. US higher with Apple back in focus. THE Australian market has opened almost one per cent higher after a strong showing on Wall Street and European bourses rebounded on better-than-expected bond auctions in Italy. At 10.10am AEDT today, the benchmark S&P/ASX200 index was up 48.7 points, or 0.97 per cent, at 5085.3, while the broader All Ordinaries index was up 46.9 points, or 0.93 per cent, at 5100.00. On the ASX 24, the March share price index futures contract was up 50 points at 5070, with 8415 contracts traded. In economic news today, the Reserve Bank of Australia is due to release financial aggregates for January, while the Australian Bureau of Statistics posts private new capital expenditure and expected expenditure, December quarter data and Housing Industry Association (HIA) posts January figures for new home sales. In equities news, Perpetual, Woolworths, Harvey Norman, Brickworks, Treasury Wine Estates and Challenger are expected to release first half results. In Australia, the market yesterday finished higher following a strong lead from Wall Street and encouraging earnings reports locally. At the close, the benchmark S&P/ASX200 index was 33 points, or 0.66 per cent, higher at 5036.6 while the broader All Ordinaries index was up 31.3 points, or 0.62 per cent, at 5053.1.