NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Companies

Oz stocks: Market enjoys strong finish

AAP
17 Mar, 2010 05:59 AM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The Australian share market closed stronger today as resources stocks benefited from higher commodity prices and sentiment was buoyed by the strongest quarterly increase in new home starts in eight years.

The benchmark S&P/ASX200 index closed up 56 points, or 1.17 per cent, to 4,853.2 points, while the broader All
Ordinaries index rose 57.8 points, or 1.2 per cent, to 4,866.9 points.

On the Sydney Futures Exchange at 1615 AEDT the March share price index contract was 47 points higher at 4,851 on a volume of 84,368 contracts.

The market began the day higher after news that US interest rates would stay at ultra low levels caused weakness in the US dollar.

That led to higher prices for commodities and a stronger Australian dollar.

The big miners benefited, with BHP Billiton up 55 cents, or 1.29 per cent, to $43.30 and rival Rio Tinto gained $1.20, or 1.59 per cent, to $76.70.

"The commodities did well overnight and that has translated into the resources today, which are a bit of standout," Austock Securities senior client adviser Michael Heffernan said.

"Then again it is the whole market that has benefited.

"Certainly the housing sector data that came out today was very strong indeed and I suppose that gives everyone a bit of confidence as to the way we're going."

New home starts nationally rose by a seasonally adjusted 15.1 per cent in the December quarter of 2009, the biggest quarterly increase since 2001, according to Australian Bureau of Statistics data.

The median market forecast was for a six per cent rise in dwelling commencements in the quarter.

Among construction-related stocks, Boral added 13 cents, or 2.41 per cent, to $5.52, James Hardie gained 26 cents, or 3.51 per cent, to $7.67, CSR dropped 0.5 of a cent to $1.675 and Leighton Holdings gained $1.48, or 3.86 per cent, to $39.85.

The energy and gold sectors were also buoyed by higher commodity prices.

Woodside Petroleum added $1.04 to $45.80, Oil Search gained 22 cents to $5.88 and gas giant Santos rose 21 cents to $14.34.

Among gold stocks, Lihir was up five cents to $3.11 and Newcrest added 61 cents to $34.13.

The spot price of gold in Sydney was US$1,127.60 per fine ounce at 1627 AEDT, up US$13.92 on Tuesday's close of US$1,113.68.

The big banks ended stronger.

Commonwealth Bank was up 46 cents to $56.14, ANZ added 46 cents to $24.61, Westpac rose 43 cents to $27.34 and National Australia Bank edged eight cents higher to $26.83.

Retail giant David Jones posted a 10.2 per cent rise in its first half profit and reaffirmed profit growth guidance for the next two years.

The result was "very workmanlike and robust", Mr Heffernan said.

David Jones shares added six cents to $5.13.

Among other retail stocks, Myer Holdings gained two cents to $3.53, Woolworths lifted 44 cents to $28.72 while Wesfarmers lost 45 cents to $31.10.

Grain marker AWB was one of the worst performers of the day after it downgraded its guidance for full year profit.

AWB shares lost 12 cents, or 11.37 per cent, to 93.5 cents.

Telstra shares closed two cents higher at $3.13, while rival Optus parent Singapore Telecommunications added two cents to $2.51.

The top traded stock by turnover was pharmaceuticals developer OBJ, with 205.6 million shares traded for a value of $12.2 million.

OBJ shares fell 0.4 cent, or 6.25 per cent, to six cents.

Preliminary national turnover reached 2.7 billion shares, worth $5.86 billion, with 636 stocks up, 431 down and 369 unchanged.

- AAP

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.
Save

    Share this article

Latest from Companies

Premium
Business|personal finance

Surge in new vehicle sales: Industry insiders explain three factors behind spike

04 Jul 05:00 AM
Construction

'A substantial breach': Builder's work under scrutiny after installing leaky gazebo

04 Jul 04:00 AM
Retail

Foodstuffs to open $73m Pt Chevalier store early after Vic Park fire

04 Jul 03:55 AM

There’s more to Hawai‘i than beaches and buffets – here’s how to see it differently

sponsored
Advertisement
Advertise with NZME.

Latest from Companies

Premium
Surge in new vehicle sales: Industry insiders explain three factors behind spike

Surge in new vehicle sales: Industry insiders explain three factors behind spike

04 Jul 05:00 AM

Tesla and BYD fight it out in a resurgent EV market.

'A substantial breach': Builder's work under scrutiny after installing leaky gazebo

'A substantial breach': Builder's work under scrutiny after installing leaky gazebo

04 Jul 04:00 AM
Foodstuffs to open $73m Pt Chevalier store early after Vic Park fire

Foodstuffs to open $73m Pt Chevalier store early after Vic Park fire

04 Jul 03:55 AM
'Toxic management': Air traffic strike causes mass flight cancellations

'Toxic management': Air traffic strike causes mass flight cancellations

04 Jul 03:41 AM
From early mornings to easy living
sponsored

From early mornings to easy living

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP