The Australian sharemarket closed higher yesterday as Chinese inflation figures boosted the resources sector.
At close, the benchmark S&P/ASX200 index had gained 54.4 points, or 1.15 per cent, at 4780.2 points, while the broader All Ordinaries index had lifted 54.6 points, or 1.14 per cent, to 4858.2 points.
On the
ASX 24, the June share price index futures contract was 61 points higher at 4780 points, with 33,050 contracts traded.
The resources sector benefited from higher prices for base metals overnight, but markets in the Asia Pacific region yesterday had also been driven by Chinese inflation data slightly higher than the forecast of 5.2 per cent.
The data showed China is slowing, said CMC Markets institutional equities dealer David Barrett-Lennard.
China said its consumer price index rose 5.3 per cent year on year in April, down from 5.4 per cent in March.
Global miner BHP Billiton jumped 77c to A$45.30, while Rio Tinto advanced A$1.80 to A$81.45.
Commonwealth Bank found 32c at A$52.52 after it posted third-quarter unaudited cash earnings of around A$1.7 billion amid "subdued" credit demand and "fragile" consumer and business confidence.
Building materials company CSR picked up 5c at A$2.95 after it posted an annual net profit of A$503.4 million, following a A$111.7 million loss in the prior year.
Building materials supplier Boral rose 26c to A$4.91 after it said full year net profit would be in the range of A$160 million to A$175 million.
Property developer Westfield Group slipped 2c to A$9.05. Retailer David Jones was up 11c at A$4.56 after it reported a fall in sales in its third quarter, but reaffirmed annual profit guidance.
Melbourne-based department store Myer Holdings nudged up 1c to A$3.18 after it said total sales in the third quarter fell two per cent but reaffirmed its expectation that annual profit will rise five per cent.
- AAP
