The Australian stock market closed marginally higher yesterday on low trading volumes after gains by BHP Billiton offset weaker performances by the banks.
The benchmark S&P/ASX200 index was up 6.5 points, or 0.14 per cent, at 4778.4 points, while the broader All Ordinaries index lifted 7.1 points, or 0.15 per
cent, to 4869.6 points.
On the ASX 24, the March share price index futures contract was 10 points higher at 4776 points, with 12,169 contracts traded.
Austock Securities senior client adviser Michael Heffernan said the modest lift was a solid result but slightly disappointing given the positive US lead and rise in most commodities prices.
Early preliminary national turnover was 1.94 billion shares, worth A$3.52 billion.
Heffernan said BHP Billiton kept the market's head above water, offsetting weaker performances by banks.
BHP Billiton was up 40c, or 0.88 per cent, at A$45.82 while Rio Tinto put on 8c to A$86.78.
Westpac was down 10c at A$22.61, ANZ fell 7c to A$23.63, National Australia Bank was 16c cheaper at A$24.05 and Commonwealth Bank backtracked 13c to A$50.87.
Shares in Macquarie Group were up 22c at A$37.22 while Bank of Queensland shares inched 1c higher to A$10.54.
Telstra said its negotiations on the national broadband network with the federal Government would take longer than expected. Shares were steady at A$2.77.
Fashion retailer Noni B said it expected net profit for the first half of 2010/11 to be down from the prior corresponding period after like-for-like store sales fell 2.5 per cent. Noni B shares shed 7c, or 6.14 per cent, to A$1.07.
Among other retail stocks, Woolworths put on 9c to A$26.80, Coles owner Wesfarmers gained 16c to A$32.18 and JB Hi-Fi eased 4c to A$17.85.
In the energy sector, Woodside was 4c softer at A$42.78 and Santos gave up 6c to A$13.56.
- AAP
