Today The Australian share market has released positive global economic data and strong production numbers from BHP Billiton. There was a record increase in consumer confidence in Germany and positive manufacturing data from the United States last night that assist ease fears about global growth.

But weak consumer sentiment data locally and the World Bank published a downgrade to its expectations for global growth.

Now, world economic growth expects to arise by 2.5 per cent this year, easing from its June forecast of 3.6 per cent.

By the close the All Ordinaries index rose 3 points to 4,281 and the ASX 200 index jumped 2 points to end at 4,218.

The world’s biggest mining company, BHP Billiton climbed 0.8 per cent by the close after estimating record iron ore production this year.

That was after it notch a 22 per cent climb in output of the steel-making ingredient in the three months till the end of December compared with the same period in last year.

Rio Tinto rose 1.4 per cent and iron ore miner Fortescue Metals jumped 5.2 per cent. While,Telstra closed edge at $3.36.

Commonwealth Bank said that the latest stock trading above valuation of $3.33 and it has eased recommendation from buy to hold.