Australian Stocks Extend Rally to Lift ASX 200 at a 5-Year High

Marcus Jacob
11 Mar, 2013
New York City

Australian stocks inched higher after banks and resource stocks led the gainers. The benchmark ASX 200 index closed at a new high since June 2008. CSR said it plans to cut 150 jobs. Retailer Woolworths gained 1% to close at a new record high.

[R]6:30 PM Sydney – Australian stocks inched higher after banks and resource stocks led the gainers. The benchmark ASX 200 index closed at a new high since June 2008. CSR said it plans to cut 150 jobs. Retailer Woolworths gained 1% to close at a new record high.[/R]

Australian stocks traded higher and the benchmark index inched near the high of the day.
The ASX 200 index closed at a new high since June 2008.

The ASX 200 index jumped 37.70 or 0.7% to 5,146.90 and the broader All Ordinaries increased 22.59 to 5,160.05.

The Australian dollar edged down to $1.0228.

Stock Movers

Rio Tinto slipped $1.26 to $63.10 and BHP lowered 27 cents to $35.82. Fortescue Metals Group slid 5 cents to $4.37.

Woodside Petroleum gained 25 cents to $37.39 and Santos increased 16 cents to $13.54.

Newcrest Mining rose 7 cents to $21.95. Kingsgate surged 35 cents or 9.4% to $4.06 and Whitehaven Coal slumped 5 cents to $2.53.

David Jones Limited added 1 cent to $3.03 and Breville Group jumped 20 cents to $5.70. Billabong declined 1.5 cents to 85.5 cents.

Woolworths gained 34 cents to $35.71. Kathmandu slipped 6 cents to $1.96.

Toll Holdings slid 3 cents to $6.02, Leighton climbed 44 cents to $22.48 and Mirvac Group increased 2 cents to $1.62. Lend Lease gained 6 cents to $10.38.

Banks led the gainers in Sydney trading.

Westpac closed unchanged at $31.25, Commonwealth rose 0.4% to $70.13 and National Australia Bank increased 1.7% to $31.64 and ANZ gained 0.3% to $29.20.

Macquarie Group advanced 70 cents to $39.49.

Woolworths increased 1% to close at a record high at $35.71 and Wesfarmers rose 22 cents to $42.85.

Domino’s Pizza decreased 1.3% to $11.40 after the company failed to capitalize on misleading hype.

CSR gained 2.9% to close at $2.16 and said it will cut 150 jobs and blamed the weak construction and the recent volatility in foreign exchange rates.