Aust stocks close marginally higher on bank gains
16 Mar 2009 4:31 PM
INDEX MOVEMENT POSITION INDEX MOVEMENT POSITION
S&P/ASX200 +3.2 3348.4 Dow Jones +53.92 7223.98
All Ords +2.6 3297.3 S&P 500 +5.81 756.55
SPI contract +23.0 3360.0 Nasdaq +5.4 1431.50
Gold $USoz +0.85 925.00 Nikkei +168.4 7737.68
$A/USD +.0039 0.6564 NZSE-50 +20.939 2544.333
MELBOURNE, March 16 AAP - The Australian share market closed flat after gains from the banks offset heavy losses from resource and energy stocks.
At the close, the benchmark S&P/ASX200 index was 3.2 points, or 0.1 per cent higher at 3348.4, while the broader All Ordinaries gained 2.6 points, or 0.08 per cent, to 3297.3.
At 1615 AEDT on the Sydney Futures Exchange, the March share price index contract was 23 points higher at 3360, on a volume of 82,841 contracts.
Austock Securities senior client adviser Michael Heffernan said strong gains from the banking sector offset heavy falls from the big miners and energy stocks.
"The standout today has been the soaring upwards of the banking stocks, but with the financials and resources both moving in opposite directions it is almost giving us a flat market overall," Mr Heffernan said.
"When you look at the top movers in the downward direction, it really is the energy related stocks (such as) BHP, as well as Telstra."
ANZ added 56 cents to $14.05, Commonwealth Bank put on 75 cents to $31.00, National Australia Bank picked up 57 cents to $18.35 and Westpac found 18 cents to $17.13.
The local market opened flat despite Wall Street finishing in positive territory for a fourth day in a row on Friday, with the Dow Jones Industrial Average adding 53.92 points to close at 7,223.98.
Stock Move Price
AMP -0.010 4.140
ANZ Bank +0.560 14.050
BHPBilton -0.660 31.000
CBA +0.750 31.000
NAB +0.570 18.350
NewsCorp +0.260 10.610
Polartech +0.003 .098
Rio Tinto -1.270 50.750
TelstraCp -0.050 3.010
WestpacBk +0.180 17.130
Woolwrths +0.130 24.700
AAP
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