Australian stocks: Stocks close at record high, driven by resources sector

S&P/ASX200 +40.4 4831.5 Dow Jones +77.16 10959.31

All Ords +39.4 4775.8 S&P 500 +11.97 1285.45

SPI contract +36 4824.0 Nasdaq +28.75 2305.62

Gold US$oz +14.97 542.60 Nikkei closed 16428.21

A$/USD +.0074 0.7535 NZSE-50 +3.084 3368.049

MELBOURNE - The Australian stock market continued its recent strong run today, as gains in the mining and energy sectors pushed the bourse to new highs.

"The market came off a fraction at the end of the day but it's been amazingly strong," ABN Amro Morgans senior client adviser Roger Chandler said.

"The emphasis has been on resources, but a lot of the banks have still done very well."

Mr Chandler said prices for gold and oil had big rises in offshore trading and gold stocks had been particularly strong today as the gold price reached a new high.

At the 1615 AEDT close, the S&P/ASX200 was up 40.4 points to 4831.5, surpassing the previous record of 4820.3 set last Wednesday.

The all ordinaries climbed 39.4 points to 4775.8, beating the prior closing high of 4765.1 also set on January 4.

Both indices also set new intraday highs today.

On the Sydney Futures Exchange, the March share price index contract was 36 points stronger at 4824 on volume of 6,243 contracts, according to preliminary calculations.

Global miner BHP Billiton gained 71 cents to $24.06, and Rio Tinto added $1.38 to $70.18.

Oil and gas producer Woodside Petroleum lifted $1.08 to $40.73, and Santos strengthened 35 cents to $12.60.

In the United States on Friday, the Dow Jones industrial average rose 77.16 points to 10,959.31.

Stock Move Price AMP +0.090 7.870 ANZ Bank +0.120 24.340 BHPBilton +0.710 24.060 CBA +0.210 43.150 NAB +0.020 32.570 NewsCorp +0.210 22.120 Rio Tinto +1.380 70.180 TelstraCp +0.070 4.060 WestpacBk +0.090 23.040

Among gold stocks, Newmont was 22 cents richer at $7.79, Newcrest climbed 95 cents to $25.87, and Lihir jumped 14 cents, or 6.2 per cent, to $2.40.

The price of gold in Sydney at 1625 AEDT was US$542.60 per fine ounce, up US$14.975 on Friday's close. The gold price reached an intraday high of US$544.00 - the highest in 25 years.

Among the major banks, the National Australia Bank nudged up two cents to $32.57, the Commonwealth Bank put on 21 cents to $43.15, Westpac was nine cents heavier at $23.04, and the ANZ improved 12 cents to $24.34.

Investment bank Macquarie Bank fell 15 cents to $67.53 after it said it was taking over the world's largest international airport baggage trolley company.

In the media sector, News Corp rose 21 cents to $22.12 while its non-voting stock gained 23 cents to $20.72.

Publishing and Broadcasting was 23 cents better off at $16.98, and Fairfax eased two cents to $4.06.

In the retail sector, Coles Myer found four cents at $10.61, and supermarket rival Woolworths picked up two cents to $16.92.

Telco Telstra lifted seven cents to $4.06, and Singapore Telecommunications dipped two cents to $2.13.

Among other stocks, market debutante and junior gold explorer Azumah Resources closed at 23 cents, three cents above their issue price.

Tollway operator Transurban Group gained six cents to $6.91 as it reported increased revenue from tolls and fees on its roads in the December 2005 quarter.

The top traded stock by volume was information technology firm Zylotech Ltd, with 141.7 million shares worth $263,300 changing hands. Zylotech was steady at 0.2 cents.

Preliminary national turnover was 1.24 billion shares worth $2.78 billion, with 613 stocks up, 439 down and 310 unchanged.

- AAP