Australian Dollar, Stocks Advance; Brambles Completes Pallecon Purchase

Marcus Jacob
03 Jan, 2013
New York City

Australian stocks advanced to a new 19-month high following a rally in international markets. The Aussie dollar gained and resource stocks advanced after prices of crude oil jumped to a two-month high and metals prices increased.

[R]7:30 PM Sydney – Australian stocks advanced to a new 19-month high following a rally in international markets. The Aussie dollar gained and resource stocks advanced after prices of crude oil jumped to a two-month high and metals prices increased.[/R]

Stocks in Sydney traded higher and the benchmark ASX 200 index increased to 19-month high.

The ASX index opened higher following the strong rally in European and New York markets and gained more in the session.

The ASX 200 index advanced 34.80 or 0.7% to 4,740.70 and the broader All Ordinaries gained 38.54 to 4,761.42.

Australian dollar advanced to $1.051.

In trading, stock turnover increased to 1.4 billion shares worth $2.8 billion and 621 stocks closed higher, 305 declined and 333 were unchanged.

Stock Movers

Brambles increased 8 cents to $7.67 after the pallet maker completed the purchase of intermediate bulk container company Pallecon for 135 million euros.

IAG gained 3 cents after the insurance company said it increased its catastrophic insurance program to $5 billion in 2013 from $4.7 billion in 2012.

Resource stocks advanced for the second day in a row on improving manufacturing data in China and rising oil and base and precious metal prices.

BHP Billiton Limited advanced 31 cents to $38.15 and Rio Tinto Limited jumped $1.63 to $69.25. Fortescue Metals increased 12 cents to $5.04.

Newcrest Mining climbed 72 cents to $23.70. Kingsgate gained 13 cents to $4.70 and Whitehaven Coal up 3 cents to $3.61.

Transfield Services closed unchanged at $1.95 and engineering contractor WorleyParsons advanced 51 cents to $24.30. Monadelphous Group up 19 cents to $25.18 and Downer EDI slipped 7 cents to $4.05.

Lend Lease gained 5 cents to $9.49.

Oil Search Limited increased 6 cents to $7.12 and Santos Limited jumped 26 cent to $11.37.

Woodside Petroleum gained 23 cents to $34.60 and Origin Energy Limited added 6 cents to $11.79.

Woolworths up 2 cents to $29.54 and Kathmandu increased 2 cents to $1.59.

David Jones Limited added 2 cents to $2.40 and Wesfarmers slumped 22 cents to $36.89. Breville Group decreased 4 cents to $6.58.

Commonwealth Bank of Australia climbed 52 cents to $63.24 and Bank of Queensland gained 6 cents to $7.50 and ANZ increased 9 cents to $25.18. National Australia Bank jumped 15 cents to $25.25. Westpac added 9 cents to $26.19.

Toll Holdings advanced 13 cents to $4.75, Leighton climbed 47 cents to $18.65 and property developer Mirvac Group down 3 cents to $1.47.

Westfield Group slipped 11 cents to $10.58.