Tokyo stocks jump in early trade

TOKYO stocks have jumped by more than four per cent in early trade on Friday a day after the Bank of Japan unveiled fresh easing measures that sent the yen tumbling against the US dollar.

The Nikkei 225 index at the Tokyo Stock Exchange was up 4.68 per cent, or 591.08 points, to 13,225.62 several minutes after the opening.

The Bank of Japan (BoJ) embarked on a new era of huge spending Thursday by unleashing a flood of easy money in its boldest attempt to drag the economy out of a long spiral of deflation.

The yen slumped against the US dollar and bond yields hit a record low after new governor Haruhiko Kuroda unveiled a doubling of the money supply and vowed no let-up in the battle against falling prices.

A weaker yen helps Japanese exporters by making their products more competitive overseas.

"The increased appeal of Japanese shares to potential overseas investors, combined with renewed weakening of the yen should lift the market still higher," SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.

The BoJ said it would expand its asset-purchase program to include riskier bets such as exchange-traded funds (ETFs) and real-estate investment trusts. ETFs are similar to an index fund, but are market traded like stocks.

It will also buy longer-term government bonds, a move aimed at pushing down long-term interest rates to encourage companies and individuals to borrow instead of hoarding their cash.

The bank said it wanted to boost the monetary base -- the amount of currency in circulation including commercial bank deposits in BoJ reserves -- by 60-70 trillion yen ($A606.56 billion-$A698.02 billion) annually to 270 trillion yen by the end of 2014.

The yen fell further in Tokyo morning trade, with the US dollar soaring to 96.80 yen from 96.33 yen late Thursday in New York. The euro was at 125.16 yen from 124.60 yen.

In the United States, The Dow Jones Industrial Average rose 55.76 points (0.38 per cent) to 14,606.11.

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Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks to watch at noon on Tuesday

STOCKS to watch on the Australian stock exchange at noon on Tuesday:

CCV- CASH CONVERTERS - up 2.5 cents, or 1.9 per cent to $1.34

Cash Converters has obtained $60 million from Westpac Bank that the second hand dealer and short-term loan provider will use to grow its personal loan book.

KMD - KATHMANDU - down one cent or 0.5 per cent to $1.96

Kathmandu has defied difficult retail conditions to post a hefty rise in first half profit as new stores performed well and online sales grew.

SDL - SUNDANCE RESOURCES - in a trading halt, last traded at 21 cents

Sundance Resources says suitor Hanlong will not be able to meet its financial deadline for its $1.3 billion takeover of the Africa-focused iron ore hopeful.

UGL - UGL - up 83 cents, or 8.8 per cent to $10.26

MELBOURNE - Engineering and property services provider UGL is reviewing its corporate structure now that the property business generates nearly 50 per cent of group earnings.

View the original article here

Japanese stocks open 1.37 per cent higher

TOKYO stocks opened 1.37 per cent higher on Monday as the president of Cyprus indicated apparent progress in negotiations on a crucial bailout for the island to avert the collapse of its banking system.

The Nikkei 225 index at the Tokyo Stock Exchange was up 169.08 points to 12,507.61 at the start.

Bargain-hunting emerged from the outset following a sizeable decline in Japanese shares on Friday, while market participants were encouraged by a rebound in US stocks and the prospect of a deal on the Cyprus bailout.

The Dow Jones Industrial Average finished up 90.54 points (0.63 per cent) at 14,512.03 on Friday as the rebound followed market losses on Thursday due to some weak earnings reports and uncertainty about Cyprus.

"The foreign investor base, which is key for Japan stocks, remains resilient, as the government's promises for a more stock-friendly Bank of Japan have materialised as advertised," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.

"The Cyprus banking problem is a point of focus, but has yet to seriously derail the current equity rallies in the United States and here in Japan," Nishi told Dow Jones Newswires.

Talks with Eurogroup partners on conditions for resurrecting a Cyprus bailout to avert a looming banking system meltdown finally got under way after a delay of four hours on Sunday.

The euro jumped after the negotiations in Brussels appeared to be bearing fruit early on Monday, according to a tweet from Cypriot President Nicos Anastasiades.

"Efforts have culminated," read a translation from the Greek, with EU sources subsequently stating that a preliminary agreement was in place to hit Bank of Cyprus depositors with a massive 40 per cent "haircut" on deposits of more than 100,000 euros pending endorsement by Eurogroup finance ministers.

The euro changed hands at $1.3023 and 123.61 yen in early Asian trade on Monday, up from $1.2986 and 122.72 yen late Friday in New York.

The US dollar rose to 94.92 yen in Tokyo from 94.46 yen in New York.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

US stocks fall after 10-day winning streak

US stocks fell on Friday, bringing the Dow's 10-day winning streak to a halt as a decline in a key consumer sentiment index highlighted continuing weaknesses in the economy.

Trade was heavy in banks after the Fed completed its stress tests and capital plan reviews, and as a Senate committee report blasted JPMorgan Chase for how it handled its massive "London Whale" losses last year.

At the close, the Dow Jones Industrial Average was down 26.57 points (0.18 per cent) to 14,512.57, the first time in nine days it did not finish at an all-time record.

The broad-based S&P 500 lost 2.59 (0.17 per cent) at 1,560.64, after having pushed higher on Thursday to a tantalising three points short of its all-time high.

The tech-heavy Nasdaq Composite dropped 9.86 (0.30 per cent) to 3,249.07.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks to watch at noon on Friday

STOCKS to watch on the Australian stock exchange Friday, February 22

AAD - ARDENT LEISURE GROUP - down 11.5 cents at $1.475

Ardent Leisure has boosted its half year profit by 11 per cent, largely thanks to its newly acquired health clubs and entertainment centres in the US.

ABC - ADELAIDE BRIGHTON LTD - up eight cents at $3.36

Cement maker Adelaide Brighton expects a slow recovery in residential building to offset any slowdown in mining construction.

AMP - AMP LTD - down two cents at $5.42

Financial services firm AMP has lifted its annual profit by two per cent as it continues to benefit from its merger with AXA Asia Pacific.

APN - APN NEWS & MEDIA LTD - steady at 27 cents

The week has gone from bad to worse for APN News and Media as the trans-Tasman publisher reported a massive full year loss amid further writedowns on its newspaper assets.

ASX - ASX LTD - down $1.26 at $35.76

Share market operator ASX's first half profit has fallen by 2.5 per cent due to lower investor activity in the first three months of the 2012/13 financial year.

AWC - ALUMINA LTD - down 3.5 cents at $1.215

Alumina's full year net losses have blown out and the troubled aluminium producer is bracing itself for more uncertainty ahead.

BXB - BRAMBLES INDUSTRIES LTD - up eight cents at $8.59

Pallet supplier Brambles has maintained its growth forecasts as it looks to expand in central and eastern Europe after posting a 26 per cent increase in first half profit.

EGP - ECHO ENTERTAINMENT GROUP LTD - down one cent at $3.47

Casinos operator Echo Entertainment Group says building a new integrated casino resort in Brisbane could cost around $1 billion.

CAB - CABCHARGE LTD - down 35 cents at $4.78

Cabcharge has delivered a big lift in first half profit but its shares tumbled as the results were below under market expectations.

FXJ - FAIRFAX MEDIA LTD - down 1.5 cents at 53 cents

Fairfax Media has signalled it will chase even deeper cost cuts after reporting a fall in underlying first-half earnings and warning poor advertising spending will continue to drag on revenue.

IAG - INSURANCE AUSTRALIA GROUP LTD - up 15 cents at $5.57

Insurance Australia Group (IAG) has raised its performance targets for the full year after fewer natural disasters contributed to a sharp rise in its first half profit.

ILU - ILUKA RESOURCES LTD - down 15 cents at $10.20

Iluka Resources is confident of a recovery in the mineral sands industry this year but it won't come quickly enough to save 200 jobs it has decided to axe

ORG - ORIGIN ENERGY LTD - down $1.05 at $11.33

Energy producer and retailer Origin Energy predicts profits will fall further than expected in the second half as it moves to slash 850 jobs.

PPX - PAPERLINX LTD - down 0.5 cents at 9.2 cents

Stationery company Paperlinx has announced a first half loss of $57.3 million due to weak market conditions.

QAN - QANTAS AIRWAYS LTD - up 4.5 cents at $1.66

Qantas' key domestic operations have suffered a steep drop in first half earnings as the battle for market share forces down airfares.

TLS - TELSTRA CORPORATION - down six cents at $4.50

Telstra is axing 648 jobs from its troubled Sensis division, which runs Yellow Pages, White Pages and Trading Post.

TTS - TATTS GROUP LTD - down six cents at $3.25

Lotteries and wagering operator Tatts Group says its online operations are growing strongly, and it is looking at further opportunities in that area.

VRL - VILLAGE ROADSHOW LTD - steady at $4.52

Village Roadshow says it's cashing in on people's willingness to indulge in a little pleasure, after posting an 18 per cent lift in half year profit.

WHC - WHITEHAVEN COAL LTD - down 19 cents at $2.94

Whitehaven Coal chairman Mark Vaile insists the miner's growth plans are on track despite a bad year culminating in the resignation of respected chief executive Tony Haggarty.

WOW - WOOLWORTHS LTD - down 43 cents at $33.85

Woolworths has questioned calls for more supermarket regulation as the competition watchdog signals a renewed focus on market power.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here