KEY POINTS:
In the financial sector, Bank of Queensland Ltd announced plans to merge with Home Building Society Ltd, in a deal that values the Perth-based target at $592 million.
Shares in Bank of Queensland gained 31 cents to $18.56, while Home Building jumped 24.03 per cent, or $3.39, to
$17.50.
The big banks all closed on a high, after a mixed morning.
ANZ jumped 40 cents to $28.99, Commonwealth Bank was up $1.29 to $55.15, National Australia Bank up 89 cents to $39.94, and Westpac 57 cents up to $27.20.
Electronics and furniture retailer Harvey Norman Holdings Ltd reported a 77.4 per cent gain in net profit, saying it is well placed for emerging opportunities.
The retailer reported net profit of $407.25 million fiscal 2007, up from $229.56 million in the previous financial year.
Shares in Harvey Norman were up 31 cents to $5.32.
The other major retailers were stronger, with Woolworths trading 74 cents higher at $29.92 and takeover target Coles was 10 cents better at $14.17.
In other financial results today, metals recycler Sims Group Ltd reported an record annual profit, but forecast a soft start to the new financial year.
Sims booked a 29 per cent cent rise in 2006/07 earnings to $254.4 million as sales revenue lifted 48 per cent to $5.55 billion.
Shares in Sims Group were down slightly, losing four cents cents to $27.96.
Packaging group Amcor Ltd said it sold its Australasian food can and aerosol business for $150 million to the Impress Group, a global metal packaging company.
Shares in Amcor gained 10 cents to $7.60.
Tabcorp Holdings Ltd, which has been hit by the equine influenza crisis and its effect on the racing industry, gained 52 cents to $15.29.
However, the stock was still down 88 cents on its closing price of Thursday last week, the day the virus was first detected.
The spot price of gold in Sydney was US$667.60 per fine ounce, US$2.10 higher than yesterday's close.
Gold stocks were slightly brighter, with Newmont up three cents at $5.12, Newcrest Mining five cents at $24.50, and Lihir was steady at $3.07.
In telecommunications, Telstra gained four cents to $4.37 and Optus-owner Singapore Telecommunications added two cents to $2.92.
Shares in national carrier Qantas added nine cents to $5.58, while rival Virgin Blue was one cent better at $2.10.
The most traded stock by volume was software developer Takoradi Ltd with 187.77 million shares worth $2.58 million changing hands.
Takoradi's share price added 0.5 cents to 1.5 cents.
Preliminary market turnover was 2.21 billion shares worth $10.06 billion, with 749 companies trading higher, 443 lower and 318 unchanged.
- AAP