Australian Markets Rebound

Marcus Jacob
15 Mar, 2013
New York City

Australian stocks rebounded following the sustained gains in New York. Market indexes opened higher and built more gains after miners and banks participated in the rally.

[R]6:30 PM Sydney – Australian stocks rebounded following the sustained gains in New York. Market indexes opened higher and built more gains after miners and banks participated in the rally.[/R]

Australian stocks rebounded after miners and banks led the gainers on the back of a sustained advance in indexes in New York.

The ASX 200 index climbed 88 or 1.8% to 5,120.20 and the broader All Ordinaries jumped 85.56 or 1.7% to 5,129.33.

For the week, the ASX 200 index inched lower 0.06%.

Australian dollar traded near one-month high and closed at $1.0336.

Stock Movers

Rio Tinto gained 60 cents to $61.30 and BHP up 46 cents to $35.55. Fortescue Metals Group increased 9 cents to $4.06.

Woodside Petroleum climbed 93 cents to $37.17 and Santos gained 21 cents to $13.14.

Newcrest Mining increased 14 cents to $21.99. Kingsgate soared 18 cents or 4.6% to $4.12 and Whitehaven Coal added 3 cents to $2.34.

David Jones Limited gained 5 cents to $3.02 and Breville Group up 2 cents to $5.39. Billabong rose 0.5 cents to 84 cents.

Woolworths climbed 93 cents to $36.05. Kathmandu fell 1 cent to $1.91.

Toll Holdings jumped 18 cents to $5.96, Leighton climbed 45 cents to $22.14 and Mirvac Group rose 7 cents to $1.70. Lend Lease advanced 26 cents to $10.28.

Westpac climbed 76 cents to $30.89, Commonwealth jumped 1.9% to $70.18 and National Australia Bank gained 2% to $31.30 and ANZ increased 1.9% to $28.72.

Macquarie Group advanced 92 cents to $38.35 and Wesfarmers rose $1.04 cent to $43.12.