Advertisement
UK markets closed
  • NIKKEI 225

    38,405.66
    +470.90 (+1.24%)
     
  • HANG SENG

    17,763.03
    +16.12 (+0.09%)
     
  • CRUDE OIL

    81.75
    -0.88 (-1.06%)
     
  • GOLD FUTURES

    2,306.20
    -51.50 (-2.18%)
     
  • DOW

    37,975.31
    -410.78 (-1.07%)
     
  • Bitcoin GBP

    50,119.69
    -539.11 (-1.06%)
     
  • CMC Crypto 200

    1,288.56
    -50.51 (-3.77%)
     
  • NASDAQ Composite

    15,787.78
    -195.31 (-1.22%)
     
  • UK FTSE All Share

    4,430.25
    -4.93 (-0.11%)
     

Australia shares rise on global cues but miners cap gains

* Index up 0.2 pct; hits intra-day high of 5,996.4

* Index up 10.6 pct YTD; up 1.61 pct so far in April

* Utilities, healthcare energy drive index higher

* Resources, technology shares dampen sentiment

* 118 shares up, 66 down, 16 unchanged (Adds analysis, quotes, stocks on the move)

By Swati Pandey and Naomi Tajitsu

SYDNEY/WELLINGTON, April 13 (Reuters) - Australian shares rose for a second straight session on Monday helped by strong cues from overseas markets although worries over the toll that sliding iron ore prices are taking on miners, their suppliers and the economy curbed gains.

The S&P/ASX 200 index continued to flirt with the 6,000-point mark, a level not seen since February 2008. The benchmark has unsuccessfully attempted to breach that barrier over the past month.

ADVERTISEMENT

At 0123 GMT, the index rose 0.2 percent, or 12.8 points, at 5,981.2, after hitting an intra-day high of 5,996.4, its highest level since March 3. The benchmark climbed 0.6 percent on Friday.

Overseas, Britain's top equity index sprinted to record highs on Friday while Japan's Nikkei share average topped the 20,000-point mark for the first time in 15 years. U.S. stocks too rallied on Friday.

Weekend comment from Australian federal treasurer Joe Hockey that iron ore prices could fall to as low as $35 per tonne added to worries, with the mining sector the worst hit on Monday.

"Uncertainty continued in the resources sector due to the falling iron ore price and halt to operations at Atlas Iron ," said Tristan K'Nell, head of trading at Quay Equities.

"The main driver to the market strength was the energy sector."

Energy companies Woodside Petroleum (Xetra: WOPA.DE - news) and Santos were up 0.9 and 2.2 percent respectively while major miners BHP and Rio Tinto (Xetra: 855018 - news) fell more than 1 percent.

Big banks ANZ and NAB rose about 0.2 percent while Macquarie hit a new high since Dec (Shanghai: 600875.SS - news) . 2007, up 1 percent.

For other individual stock activity click on

New Zealand's benchmark NZX50 index was little changed at 5852.78 in early trade, as gains in power generator and retailer Meridian were offset by a slide in retirement home operator Summerset.

Meridian rose 3.5 percent to NZ$1.92, as investors continued to pick up shares on dips following a slide to a near two-month low of NZ$1.82 late last week.

Summerset fell 1.2 percent to NZ$3.40, after its latest rally to NZ$3.48 on Friday petered out ahead of a nine-month high of NZ$3.50 hit in February, prompting investors to book profits.