Australian share prices closed up 0.84 percent today as Wall Street rallied in response to a US government plan to relieve banks of bad debts, dealers said.
The S&P/ASX 200 index gained 29.7 points to 3,580, while the broader All Ordinaries closed at 3,517, a gain of 34.2 points.
The banking sector was mixed, with ANZ gaining 25 cents to $15.50, National Australia Bank putting on three cents to $19.82, Westpac finding 19 cents to $19.14 and Commonwealth Bank shedding 70 cents to $34.38.
The retailers were mixed, with Harvey Norman picking up 11 cents to $2.56, David Jones rising six cents to $2.95, Wesfarmers climbing 22 cents to $18.72 and Woolworths losing 22 cents to $24.88.
The media sector was mixed, with Consolidated Media Holdings adding seven cents to $2.18, News Corp gaining 50 cents to $10.92, its non-voting shares putting on 54 cents to $9.69 and Fairfax falling 2.5 cents to $1.01.
Prime Media Group, which is in a trading halt with its stock last trading at 60 cents, plans to raise up to $110 million from a share issue, with Kerry Stoke's Seven Network set to buy about $25 million.
OrotonGroup put on 41 cents to $2.61 after the company said it expected full year earnings to improve after the clothing and accessory retailer posted a 20 per cent rise in first half profit.
Telecommunications provider SP Telemedia picked up 5.5 cents to 21.5 cents after it doubled its first half net profit from the corresponding period last year and reaffirmed its full year guidance.
Gaming firm Tabcorp Holdings gained three cents to $6.36, with the group seeking to raise about $200 million through the issue of Tabcorp Bonds - new debt securities that will be listed on the Australian Securities Exchange.
The energy sector was stronger, with Woodside adding $1.72, or 4.47 per cent, to $40.18, Santos gaining 17 cents to $16.13 and Oil Search putting on 28 cents to $5.44.
Coal miner New Hope Corporation shed 16 cents to $3.83 despite reaffirming its full year profit guidance after delivering a significant rise in earnings for the half on higher commodity prices.
The spot price of gold was trading at $US942.30 an ounce by 1623 AEDT, down $US12.80 per fine ounce on Monday's local close of $US955.10 an ounce.
The gold miners were weaker, with Newcrest losing 60 cents to $33.06, Lihir falling 11 cents to $3.29 and Newmont dropping 16 cents to $6.23.
Goodman Group was the most traded stock by volume, with 70.18 million shares changing hands, worth $25.59 million.
The company gained eight cents, or 26.67 per cent, to close at 38 cents.
Resources boost shares at noon
Walgreen profits decline 7%
Miners push shares higher at close
