Aussie stocks lifted by banks

SYDNEY - The Australian share market ended the week steady following gains in the financial and energy sectors.

At the 1615 AEST close the benchmark S&P/ASX200 index was up 7.5 points, or 0.19 per cent, at 3,899.6 points, while the broader All Ordinaries index was up seven points, or 0.18 per cent, at 3,894.4 points.

On the Sydney Futures Exchange, the September share price index contract was nine points higher at 3,870 on a volume of 20,353 contracts.

CMC Markets senior dealer Matthew Lewis said it had been a fairly sedate day on the market.

"The local sharemarket is rounding out the week in positive territory, albeit a fairly lacklustre trading session on light volumes," he said.

Mr Lewis said the market continued to be influenced by the raft of companies undertaking equity capital raisings at discounted prices.

"We saw portfolio shuffling continuing this week."

Mr Lewis said the energy sector was the standout for the day on the back of higher crude oil prices.

"Oil and gas producers including Woodside Petroleum and Santos benefited from the rising oil price."

Mining giant BHP Billiton closed steady at $34.70, while rival Rio Tinto, recently emerged from a capital raising, lost $1.80, or 3.43 per cent, to $50.72.

The four major banks all were stronger.

Commonwealth Bank rose 43 cents to $38.50, National Australia Bank added five cents to $22.10, Westpac climbed 20 cents to $20.11 and ANZ gained 20 cents to $16.55.

Santos gained 18 cents to $14.88, Woodside put on $1.11, or 2.74 per cent, to $41.61, while Oil Search fell 17 cents to $5.52.

At 1626 AEST, the spot price of gold in Sydney was $932.90 per fine ounce, down US$7.10 on Thursday's close of US$940.00.

Lihir Gold rose one cent to $2.85, Newmont was steady at $5.25, while Newcrest was up 38 cents at $31.10.

Making news on Friday, Macarthur Coal raised $190 million through a discounted issue of new shares to institutional investors.

Macarthur gained eight cents to $6.70.

Iron ore miner Atlas Iron Ltd and two junior mineral explorers, Hannans Reward and Warwick Resources, have announced plans to consolidate iron projects in Western Australia.

Atlas lost 6.5 cents to $1.79, while Hannans added 2.5 cents to 14 cents and Warwick gained four cents to 27 cents.

Shares in junior oil and gas explorer Icon Energy jumped five cents, or 16.39 per cent, to 35.5 cents after it announced it had proved the discovery of a new coal seam gas province near Moonie in Queensland's Surat Basin.

Telstra finished down four cents at $3.28, while Optus-owner Singapore Telecommunications lost eight cents to $2.50.

Media companies were mostly weaker, with Consolidated Media down one cent to $2.30, News Corporation off 25 cents at $13.25 and its non-voting scrip also down 25 cents at $11.80.

Fairfax Media gained one cent to $1.235 and Seven Network was up one cent to $5.39, while Ten Network Holdings lost six cents to $1.13.

Major retailers were mixed, with Wesfarmers down 15 cents at $21.72 and Woolworths up 13 cents to $25.75.

Surfwear group Billabong was 23 cents lower at $8.20 and department store owner David Jones lifted one cent to $4.08.

Qantas fell four cents to $2.03 and Virgin Blue gained 0.5 cent to 33.5 cents.

Macquarie Airports gained eight cents to $2.33, travel agent Flight Centre lifted 25 cents to $8.70 and Webjet gained 0.5 cent to $1.28.

Valad Property Group was the top traded stock by volume, with 124.72 million shares changing hands for $9.33 million.

Its share price was down 0.7 cent, or 8.75 per cent, to 7.3 cents.

Preliminary national turnover reached 2.32 billion shares worth $5.06 billion, with 539 stocks up, 579 down and 323 unchanged.

- AAP