The Aussie stock market closed higher today, led by resource stocks like top miner BHP Billiton after strong data from China revealed a 17.7% surge in exports in December following a 13 month lull.
The S&P/ASX 200 Index finished 39 points higher at 4,951 while on the futures market, the SPI200’s up 38.
Re-capping the economic news of the day: ANZ’s job advertisements survey showed that the total number of job ads jumped 6% in December, the biggest gain since May 2007.
To company news around this afternoon: Mid-tier nickel sulphide producer Western Areas NL (ASX:WSA) says 2010 should see major progress at all of the company’s operations. The miner says mine development and infrastructure are now well advanced or already completed to support the planned production ramp up at Forrestania. Western Areas says the T4 ore body is now largely developed and will be a long term source of ore, with first production from the T5 ore body where the company’s Flying Fox mine is located, to commence in the March quarter, with production at its Spotted Quoll operation to start in April. Shares in Western Areas closed 6.67 per cent higher at $5.60.
Financial group MyState Ltd (ASX:MYS) has made some key appointments to its executive team. Among the executive appointments is former Principal Advisor for Rio Tinto, Tim Rutherford who will hold the position of General Manager of Technology and Operations at MyState. CEO John Gilbert says the new executive team has been selected for their outstanding reputation and track record in the finance industry and has the necessary skills to give effect to the recent merger of MyState Financial and Perpetual Trustees and to take the business forward. MyState shares closed flat at $2.64.
Also making news: ThinkSmart (ASX:TSM) which is engaged in arranging finance for the renting of equipment, has announced it will now offer customers free data transfer, online backup and remote access as it aims to expand its Australian market share. Bauxite Resources Limited (ASX:BAU) announced that it has signed a Heads of Agreement with Yankuang Corporation for the ownership and joint development of an alumina refinery in the south west of Western Australia. Under the terms of the agreement, Bauxite says Yankuang will subscribe for an equity stake in the company and be able to explore and exploit the Australian company’s tenements in the Darling Range.
CBH Resources Ltd (ASX:CBH) says it has received a takeover proposal from Nyrstar NV to acquire all CBH shares for either cash at 13.5 cents a share or Nyrstar shares.
And Macquarie Group Ltd (ASX:MQG) has reportedly joined together with Canadian Pension Plan and Abu Dhabi Investment Authority to bid for a UK electricity network.
In the best and worst performers: The best performing sector today was the Materials index, which was up 270 points to 13,374. The worst performing by percentage points was the Telco Services index; which lost 11 points to 1,151.
The best performing stock in the S&P/ ASX200 was Platinum Australia shares gained 9.81% to $1.175. Shares in Panoramic Resources and Alumina also improved.
The worst performing stock was Pacific Brands shares lost 3.35% to $1.155. Abacus Property Group and SP AusNet shares also closed lower today.
In commodities, gold is trading at $1,155.55 U.S an ounce and light crude is up 81 cents at $83.56 U.S a barrel.
