Market hovering at record levels

The sharemarket closed relatively flat despite a strong start to trading. Resources stocks were firmer but banks eased.
The benchmark ASX 200 index eased 0.3 points to 4836.4 although the All Ordinaries index added 1.6 points to hit a new record, 4785.9, scraping past Friday's high of 4784.3. The All Ords also set a new intraday high of 4805.6.
Macquarie Bank adviser Helen Spencer said there was a lack of offshore leads to provide guidance to the market.
"There is a little bit of profit-taking coming through after a strong start this morning," she said. "The only star performer at the moment is gold, while the rest of the resources sector is also faring quite well."
Hospitals and pathology operator Healthscope fell $1.35 or 23.6 per cent to $4.38 after it delivered a profit warning.
Other health-related stocks fell. DCA Group lost 9c to $3.85 and Sigma Pharmaceuticals fell 11c to $2.88.
In the resources sector, global miner BHP Billiton nudged up 1c to $23.74, while zinc and lead producer Zinifex put on 26c to a record $7.96.
Rio Tinto rose 55c to $71.05 as the company had its 2006 earnings estimates raised by 17 per cent by UK broker Cazenove.
Woodside Petroleum rose 87c to $41.97 and Santos added 9c to $12.61.
The Australian Gas Light Co was steady at $17 as it committed to a binding sales agreement in relation to the $4 billion Papua New Guinea gas project.
Oil Search, which will supply this gas, busted the $4 barrier for the first time since August 1997, rising 21c to $4.02
National Bank dipped 8c to $32.56 as it said it was selling its UK Clydesdale and Yorkshire Banks' discretionary investment management portfolios to Britain's Tilney Investment Management for an undisclosed sum.
ANZ slipped 8c to $24.37, the Commonwealth shed 1c to $44.12 and Westpac was steady at $23.04.
Telstra was steady at $3.96 and Optus owner Singapore Telecom eased 2c to $2.08.
Retailer Coles Myer was unchanged at $10.77 while Woolworths gained 10c to $17.18. Harvey Norman gained another 3c to $3.14.

PBL jumped 17c to $17.18 as its joint venture with Betfair UK was issued with a betting exchange gaming licence by the Tasmanian Gaming Commission. Publisher John Fairfax lost 2c to $4.04.
Monopoly wheat exporter AWB fell 19c to $6.18 as an inquiry into AWB's payments to Iraq began.
AWB said in its annual report, released yesterday, that it expected to perform well this financial year and would pursue growth opportunities across the agricultural sector.
Stevedore Patrick Corp was 10c lower at $7.20. Patrick has begun court proceedings against Toll Holdings, which is its partner in rail operator Pacific National, over a disputed freight contract. Toll fell 17c at $13.91.
Pacific Brands slid 6c to $2.35. The shares were cut to "neutral" from "buy" at UBS.
PaperlinX fell 3c to $3.40. The group was cut to "underperform" from "market perform" by Goldman Sachs JBWere.
Among golds, Newmont rose 31c to $7.98 and Newcrest jumped 92c to $25.43.
AAP, Bloomberg
MONEY $A/US¢75.47+0.34
TWI63.5+0.2
90-day bank bills5.613 -0.018
3-year bonds5.130-0.015
10-year bonds5.150-0.015
YESTERDAY'S MOVES
Rises 540 Falls 524 Steady 326
Mar SPI 4823.0 -8.0
ASX 200 4836.4 -0.3
Financials 5663.8 -13.9
Industrials 5459.5 -10.5
Energy 11,711.4 +208.6
Volume Value 1.124bn 2.628bn
WINNERS ▲
Paladin Resources +7.39%

Centennial Coal +7.10
Cons Minerals +6.00
Macarthur Coal +5.66
Oil Search +5.51
Oxiana +4.39
BlueScope Steel +4.27
Hardman Resources +4.12
Seek +3.88
Lihir Gold +3.86
LOSERS ▼
Healthscope -23.56%
Sigma Pharma -3.68
OAMPS -3.55
Repco -3.51
AWB -2.98
Ansell -2.87
Ventracor -2.76
ResMed-cdi -2.70
Sonic Healthcare -2.65
Fortescue Metals -2.52