Stocks up as Obama wins presidency

THE Australian stock market closed higher today, with BHP Billiton and Rio Tinto leading the charge on the back of stronger commodity prices and overseas leads while Barack Obama has made history after being elected the first African-American president of the United States of America.

Obama has become the 44th president of the US, defeating Republican senator John McCain, after taking the battleground state of Ohio as well as key swing states including Pennsylvania, Virginia and