Australian Stocks Gain, Another Suitor for Billabong

Marcus Jacob
24 Dec, 2012
New York City

Australian stocks gained in light trading led by the advance in resource and financial sector stocks. Billabong gained after the company opened books former board member Paul Naude for due diligence.

[R]7:30 PM Sydney – Australian stocks gained in light trading led by the advance in resource and financial sector stocks. Billabong gained after the company opened books former board member Paul Naude for due diligence.[/R]

Stocks in Sydney traded higher and lifted the benchmark index to a 18-month high in light trading on Christmas Eve.

The ASX 200 index increased 11.60 or 0.3% to 4,635.20 and the broader All Ordinaries gained 10.39 to 4,645.61.

The index closed higher for the tenth time in last twelve days and materials and financials led the advancers.

Australian dollar backed off from its 3-month high to $1.037.

In stock trading, turnover plunged to 597 million shares worth $889 million compared to a daily average of $4 billion. In trading, 417 stocks increased, 377 decreased and 314 closed unchanged.

Stock Movers

BHP Billiton Limited increased 16 cents to $36.86 and Rio Tinto Limited gained 10 cents to $64.84.

Lynas Corporation Limited slipped 2.5 cents or 4.2% to 57.5 cents, Iluka Resources declined 17 cents to $8.63 and Fortescue Metals slid 3 cents to $4.35.

Mirabela Nickel lowered 1 cent or to 48 cents and Newcrest Mining climbed 23 cents to $22.70. Kingsgate gained 5 cents to $4.41. Whitehaven Coal gained 5 cents to $3.49.

Transfield Services added 1 cent to $1.87 and engineering contractors WorleyParsons up 8 cents to $23.57.

Monadelphous Group lowered 4 cents to $23.96. Downer EDI slid 1 cent to $3.90 after the company agreed to a settlement of S$50 million for a tunnel dispute in Singapore.

Lend Lease rose 2 cents to $9.10.

Oil Search Limited down 1 cent to $6.96, Santos Limited gained 6 cents to $10.96 and Woodside Petroleum increased 6 cents to $33.81.

Origin Energy Limited added 1 cent to $11.58.

Seven West Media increased 5 cents to $1.56. Harvey Norman Holdings up 1 cent to $1.86.

Woolworths jumped 7 cents to $29.51 and Kathmandu slid 1 cent to $1.57.

David Jones Limited added 1 cent to $2.34 and Wesfarmers climbed 21 cents to $36.81. Breville Group decreased 3 cents to $6.34.

Billabong International Limited gained 0.5 cents to 83 cents.

Commonwealth Bank of Australia advanced 33 cents to $62.33 and Bank of Queensland up 1 cent to $7.36 and ANZ added 2 cents to $24.97.

Macquarie Group slumped 9 cents to $34.77 and Perpetual Limited dropped 13 cents to $34.06. National Australia Bank decreased 6 cents to $24.88. Westpac closed unchanged at $26.17.

Toll Holdings slipped 2 cents to $4.51, Leighton down 3 cents to $17.81 and property developer Mirvac Group up 2 cents to $1.50.

Westfield Group increased 5 cents to $10.61.

Qantas closed unchanged at $1.47, Flight Centre jumped 20 cents to $26.40 and Virgin Australia closed unchanged at 41.5 cents.

Telstra gained 3 cents to $4.37.