Share market rises as traders hope for stimulus package announcement at European Central Bank meeting

The share market has risen again as traders savour the prospect of more than 1 trillion euros of European stimulus.

On Wednesday night, leaks from officials hinted at a bond-buying package of 50 billion euros a month for almost two years, to total 1.1 trillion euros of stimulus.
It would be a fraction of the US quantitative easing programs, known as QE1, QE2 and QE3, but by far Europe's largest financial intervention.
The prospect of such a program, due to be discussed at a European Central Bank meeting, pushed global share markets higher.
Australia was no exception, with the benchmark ASX 200 up 0.5 per cent to 5,420, and the All Ordinaries up 23 points to 5,391.
The major miners led the charge, with BHP Billiton up nearly 3 per cent and Rio Tinto more than 2.5 per cent.
But smaller rival Fortescue was hammered, slumping 6.5 per cent to $2.17.
Oil prices were back on the up overnight.
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