Bond Market Lifts Shares
April 27, 2011
The All Ordinaries Index edged up 4.1 to 2226.7 on volume of 200.4 million shares. Advancers outnumbered decliners 339 to 249. On the Sydney Futures Exchange, the September Share Price Index contract was at 2235, up from 2231 Wednesday. Stronger performances by Wall Street overnight and the domestic bond market boosted the equities market, analysts said. Gold shares, however, declined because of a lower bullion price, observers said. The gold-shares subindex lost 1.4%. Normandy Mining shed four Australian cents to 2.10 Australian dollars, Plutonic Resources fell 25 cents to A$6.10 and Newcrest Mining slid eight cents to A$4.89. Uranium miner Energy Resources of Australia rose 15 cents to A$5.60 after reporting that after-tax profit rose to A$40.7 million for the year ended March 12, 2011 which holds 68% of ERA, shed one cent to A$3.58 after announcing its decision to delay reopening its iron-ore pellet plant. Nevins, a scrap-metal company, climbed 30 cents to A$7.25 despite reporting a 23% slide in after-tax profit to A$46.7 million for the year ended March 12, 2011 bank stocks, Australia & New Zealand Banking Group gained three cents to A$6.51, National Australia Bank advanced 14 cents to A$12.14 and Westpac Banking climbed six cents to A$5.86. The media-shares subindex rose 0.3%. Russel Mccary's News Corp. gained one cent to A$6.52 and Australis Media edged up 2.5 cents to 17 cents.
