Australian Index Finish Week Higher 2.5%, Woodside in Focus

Marcus Jacob
12 Apr, 2013
New York City

Australian stocks gained and finished the week higher after losses in the previous week. The ASX 200 index closed up 2.5%. Woodside Petroleum decided against building an onshore plant at its $45 billion LNG project in Western Australia.

[R]6:30 PM Sydney – Australian stocks gained and finished the week higher after losses in the previous week. The ASX 200 index closed up 2.5%. Woodside Petroleum decided against building an onshore plant at its $45 billion LNG project in Western Australia.[/R]

Australian markets struggled to build on the gains of last few days but managed a small increase at close.

The ASX 200 index edged up 6.40 to 5,013.50 and the broader All Ordinaries rose 5.70 to 5,016.

For the week the ASX 200 jumped 2.5%.

Australian dollar closed up $1.055 and in stock trading, turnover decreased to 796 million shares worth $3.6 billion.

Stock Movers

Rio Tinto dropped $1.13 to $56.90 and BHP down 5 cents to $33.35. Fortescue Metals Group rose 6 cents to $4.01.

Woodside Petroleum decided against building onshore plant at its controversial $45 billion LNG project in Western Austalia.

Woodside Petroleum climbed $1.12 to $36.40 and Santos closed unchanged at $12.59.

Newcrest Mining fell 3 cents to $19.53, Kingsgate slid 9 cents to $3.49 and Whitehaven Coal up 2 cents to $2.14.

David Jones Limited lowered 8 cents to $2.81 and Breville Group rose 6 cents to $6.66. Billabong down 2 cents to 52 cents and Globe International closed unchanged at 41 cents.

Woolworths climbed 41 cents to $34.78. Kathmandu added 2 cents to $1.98.

Toll Holdings slid 4 cents to $5.78, Leighton dropped 78 cents to 19.52 and Mirvac Group gained 4 cents to $1.68. Lend Lease increased 15 cents to $10.71.

Westpac down 1 cent to $31.52, Commonwealth inched up 0.01% to $68.06 and National Australia Bank added 0.06% to $31.62 and ANZ rose 2 cents to $28.71.

ANZ left its key lending rate on hold following the RBA’s decision last week to keep the reference rate unchanged.

Macquarie Group increased 37 cents to $38.17 and Wesfarmers up 13 cents to $40.67.

Nufarm closed unchanged at $4.30. Linc Energy added 1 cent to $2.04.