Australian stocks: Energy stocks surge as crude oil prices reach record highs

BRISBANE - The Australian sharemarket closed down on a mixed day but blue-chip resources remained strong.

With crude oil reaching record highs, energy stocks soared along with market leaders BHP Billiton and Rio Tinto.

But Bell Potter senior client adviser Stuart Smith said "most of the action" was on Wednesday which settled the two levels of the March and June S&P/ASX 200 indexes.

He said yesterday's movements were a result of Wednesday's adjustments. "But essentially the market remains overall bullish," he said.

The S&P/ASX 200 index was down 12 points to 4232.4.

April crude oil futures settled at a new record of US$56.46, a rise of US$1.41 on the day.

The new settlement record overshot the US$55.17 high on October 26.

Luxury goods retailer Oroton Group was steady at A$2.36 after reporting an interim net profit of A$3.28 million, down 22.9 per cent on the previous first half.

Meanwhile tollway operator Transurban said it would extend its offer for Hills Motorway Group.

The news saw Hills jump 5Ac to A$11.11 and Transurban edge down a cent to A$7.60.

- AAP