News Service from House Harris

Aust stocks close higher after gains from miners, financials

MELBOURNE, April 9 AAP - The Australian stock market closed stronger after gains from the big miners, financials and energy stocks amid the largest monthly jump in unemployment since the 1991 recession.

The benchmark S&P/ASX200 index was 52.1 points, or 1.44 per cent higher at 3671.6, while the broader All Ordinaries gained 50 points, or 1.4 per cent to 3617.5.

At the close of day trading on the Sydney Futures Exchange, the June share price index contract was 34 points higher at 3659, on a volume of 21,534 contracts.

"We got some reasonably positive corporate results for a change out of the US last night, so the market started on a good foot," CMC Markets analyst David Taylor told AAP.

"The (Australian) employment numbers weren't very impressive at all, so we saw a bit of weakness there.

"Leading into the weekend Easter break the mood seems to be very positive, some of the banks are doing quite well, the miners are doing well and so are the energy stocks."

Australia's unemployment rate was a seasonally adjusted 5.7 per cent in March compared with an unrevised 5.2 per cent in February, according to the Australian Bureau of Statistics.

The local market opened more than one per cent higher after gains on Wall Street overnight, with the Dow Jones Industrial Average picking up 47.55 points, or 0.61 per cent, to close at 7,837.11.

The big miners were stronger, with BHP Billiton gaining 67 cents to $32.45 and rival Rio Tinto putting on 99 cents to $53.80.

The spot price of gold closed Sydney trading at $US881.60 an ounce, down $US7.05 on Wednesday's local close of $US888.65 an ounce.

The gold miners were weaker, with Newcrest losing one cent to $29.10, Lihir falling two cents to $3.00 and Newmont shedding 15 cents to $6.00.

The energy sector was stronger, with Woodside gaining 53 cents to $38.69, Santos adding six cents to $16.60 and Oil Search putting on 10 cents to $5.32.

The banking sector was mixed, with ANZ adding 32 cents to $16.62, Commonwealth Bank putting on 73 cents to $35.60, National Australia Bank losing 19 cents to $21.85 and Westpac dipping one cent to $20.00.

Investment bank Macquarie gained $1.14, or 4.11 per cent, to close at $28.89.

Bank of Queensland shed 45 cents, or 5.17 per cent, to $8.25 after the company reported a slump in bottom line first half net profit to $46.3 million and slashed 25 per cent from its interim dividend.

Toll road operator Transurban Group put on one cent to $4.27 after the company said aggregate toll revenue from its assets in Australia rose by 7.3 per cent to $243.9 million in the March quarter.

Leighton Holdings dropped 29 cents to $20.78 and announced a raft of management changes, including the transfer of its Indonesian operations to the control of Leighton Asia.

The retailers were mixed, with Woolworths gaining 20 cents to $25.60, Wesfarmers putting on 15 cents to $19.00, David Jones adding 13 cents to $2.99 and Harvey Norman dipping five cents to $2.65.

The media sector was mixed, with News Corp picking up three cents to $11.55, its non-voting shares losing 10 cents to $10.04, Fairfax finding two cents to $1.08 and Consolidated Media Holdings dropping one cent to $2.02.

Telstra was the most traded stock by volume, with 55.99 million shares changing hands worth $183.74 million.

The telco shed nine cents to close at $3.26.

Market turnover reached 1.25 billion shares, worth $2.82 billion, with 598 stocks up, 308 stocks down and 272 unchanged.

AAP bls/jmc