The stockmarket closed firmer yesterday, with the All Ordinaries index again finishing at a record led by strength in the resources sector.
The benchmark ASX 200 index finished 13.6 points higher at 3452.2, still short of its record close of 3497.6 reached on March 7, 2002. However, the All Ords rose 15.8 points to 3453.2, eclipsing last Thursday's record high close of 3443.9.
ABN Amro Morgans equities director Bill Chatterton said: "There were some employment figures out of the US, which were quite good, and that had a positive effect on the base metal prices but a slightly negative effect on the precious metal prices."
Financial services stocks were mixed, with AMP adding 12c to $5.72, QBE up 7c to $11.26, IAG 5c stronger at $4.84 and Axa Asia Pacific rising 4c to $3.30.
NAB rebounded 17c to $31.17 and ANZ rose 1c to $19.16 but CBA fell 40c to $32.65 and Westpac sold off 29c to $17.60.
Zinifex made a lacklustre debut on the stock exchange.
The zinc producer closed at $1.83 on its first day of trading after debuting at $1.80, 5c below the retail price offered to the public.
"I wouldn't go near that can of worms," said IMB Matrix Asset Management's Brian Ingham. "They have high-cost, low-quality assets. I have no interest in the company, even below the retail price of $1.85."
Among other resources stocks, Rio Tinto closed 53c stronger at $35.48, BHP Billiton rose 18c to $12.67, Alumina added 12c to $5.52 and WMC Resources also rose 12c to $5.26.
Santos surged 20c to $6.30.
News Corp rose 25c to $12.15 and its preferred scrip firmed 33c to $10.86.
Telstra shed 2c to $4.50 amid speculation it was about to spend $400 million on technology services group Kaz. An upgrade from Credit Suisse First Boston failed to lift the shares.
Also, Telstra would have to curtail its overseas expansion and be barred from buying media outlets under a Labor Party government, Opposition communications spokesman Lindsay Tanner said.
Pacific Brands fell 2c to $2.57 after debuting on the ASX at $2.60 last Friday. Footwear and clothing group Colorado was 9c stronger at $4.77. Coles Myer put on 10c to $8.23 and David Jones 4c to $1.61.
Shares in real estate manager S8 rose 7c to $1.13 after it sold its stake in BreakFree and tipped an improved profit performance in the 2004 financial year.
Tissue Therapies fell 6c to 78c despite news it had made the first commercial sale of its VitroGro cell culture products to the US.
The top traded stock by volume was Gloucester Coal, with 84.6 million shares traded for $58.44 million. The stock rose 34.5c, or 81.18 per cent, to 77c.
AAP, Bloomberg