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Market Update

Australian Index Finish Week Higher 2.5%, Woodside in Focus


Author: Marcus Jacob
ticker.com
Last Update: 9:05 AM ET April 12 2013

6:30 PM Sydney – Australian stocks gained and finished the week higher after losses in the previous week. The ASX 200 index closed up 2.5%. Woodside Petroleum decided against building an onshore plant at its $45 billion LNG project in Western Australia.

Australian markets struggled to build on the gains of last few days but managed a small increase at close.

The ASX 200 index edged up 6.40 to 5,013.50 and the broader All Ordinaries rose 5.70 to 5,016.

For the week the ASX 200 jumped 2.5%.

Australian dollar closed up $1.055 and in stock trading, turnover decreased to 796 million shares worth $3.6 billion.

Stock Movers

Rio Tinto dropped $1.13 to $56.90 and BHP down 5 cents to $33.35. Fortescue Metals Group rose 6 cents to $4.01.

Woodside Petroleum decided against building onshore plant at its controversial $45 billion LNG project in Western Austalia.

Woodside Petroleum climbed $1.12 to $36.40 and Santos closed unchanged at $12.59.

Newcrest Mining fell 3 cents to $19.53, Kingsgate slid 9 cents to $3.49 and Whitehaven Coal up 2 cents to $2.14.

David Jones Limited lowered 8 cents to $2.81 and Breville Group rose 6 cents to $6.66. Billabong down 2 cents to 52 cents and Globe International closed unchanged at 41 cents.

Woolworths climbed 41 cents to $34.78. Kathmandu added 2 cents to $1.98.

Toll Holdings slid 4 cents to $5.78, Leighton dropped 78 cents to 19.52 and Mirvac Group gained 4 cents to $1.68. Lend Lease increased 15 cents to $10.71.

Westpac down 1 cent to $31.52, Commonwealth inched up 0.01% to $68.06 and National Australia Bank added 0.06% to $31.62 and ANZ rose 2 cents to $28.71.

ANZ left its key lending rate on hold following the RBA’s decision last week to keep the reference rate unchanged.

Macquarie Group increased 37 cents to $38.17 and Wesfarmers up 13 cents to $40.67.

Nufarm closed unchanged at $4.30. Linc Energy added 1 cent to $2.04.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc