Aust stocks mildly higher on China growth
22 Jan 2009 4:37 PM
INDEX MOVEMENT POSITION INDEX MOVEMENT POSITION
S&P/ASX200 +44.0 3486.8 Dow Jones +279.01 8228.10
All Ords +37.1 3431.9 S&P 500 +35.02 840.24
SPI contract +22.0 3450.0 Nasdaq +66.21 1507.07
Gold $USoz -0.95 852.05 Nikkei +91.12 7992.76
$A/USD +.0013 0.6567 NZSE-50 +29.37 2734.411
SYDNEY, Jan 22 AAP - The Australian share market closed mildly higher with gains in the resources sector despite a sell off in metal prices after it was reported the Chinese economy grew by nine per cent in 2008.
At the 1615 AEDT close, the benchmark S&P/ASX200 index had gained 44 points, or 1.28 per cent, to 3,486.8, and the broader All Ordinaries index rose 37.1 points, or 1.09 per cent, to 3,431.9.
At 1615 AEDT on the Sydney Futures Exchange, the March share price index contract was 22 points higher at 3450, on a volume of 28,095 contracts.
Macquarie Equities adviser Helen Spencer it was a flat day on the market and somewhat disappointing considering the strong lead from the US.
"We're fairly flat in the banking sector," Ms Spencer said.
"Oil prices being up overnight helped push up the likes of Woodside, which has been remaining om positive territory for most of the day.
"The Chinese numbers that came out today were pretty much in line with expectation and that's helped support the major miners, despite the very heavy sell off in metal prices overnight."
Among the major banks, National Australia Bank rose 50 cents to $18.11, Commonwealth Bank surrendered one cent to $25.60, ANZ retreated 17 cents to $13.00 and Westpac added 50 cents to $15.52.
In the resources sector, BHP Billiton lifted 48 cents to $29.14, while rival miner Rio Tinto increased $1.55, or 4.16 per cent, to $38.80.
In the energy sector, Santos fell 21 cents to $14.00, Oil Search sank six cents to $4.24 but Woodside added 35 cents to $34.76.
On Wall Street overnight, the Dow Jones industrial average settled up 279.01, or 3.51 per cent, to 8,228.1.
The Standard & Poor's 500 index advanced 35.02, or 4.35 per cent, to settle at 840.24, and the Nasdaq composite index rose 66.21, or 4.6 per cent, to 1,507.07 at settlement.
Stock Move Price
AMP -0.050 5.270
ANZ Bank -0.170 13.000
BHPBilton +0.480 29.140
CBA -0.010 25.600
NAB +0.500 18.110
NewsCorp +0.470 12.780
Polartech +0.015 .145
Rio Tinto +1.550 38.800
TelstraCp -0.020 3.580
WestpacBk +0.500 15.520
Woolwrths +0.300 26.090
