Australian sharemarket edges to record

The Australian sharemarket just managed to reach its fifth consecutive end of day record with investors waiting for the start of the reporting season.

The benchmark S&P/ASX200 was 1.7 points higher at 4380.5. Takeover target Baycorp Advantage gained 58Ac to A$3.80 after Allco Equity Partners launched a bid for Baycorp.

Shopping centre owner Centro Properties shares jumped 13Ac to A$5.51 after posting an annual revaluation gain of A$423.60 million on its Australian retail property.