Big price rises in madhouse market

The Australian stockmarket closed higher yesterday, led by the big miners, as investors digested one of the busiest days of the reporting season.
Aequs Securities institutional dealer Ric Klusman said the market had been very active but the end was in sight.
"We've got about four days to go until the end of February, then it should quieten a bit," he said. "At the moment, it is just a madhouse."
The ASX 200 rose 26.5 points to 4913.2 while the All Ordinaries climbed 24.8 to 4867.3.
Market leader BHP Billiton rose 38c to $25.28 and Rio Tinto gained $1.45 to $74.69.
The big banks also headed north, with Commonwealth Bank adding 7c to $43.89, NAB finding 4c to $35.75, Westpac jumping 11c to $23.49 and ANZ rising 7c to $25.64.
Elsewhere in the financial sector, QBE leapt 76c to $20.04 after handing down record annual earnings of more than $1 billion.
The insurer expects earnings will continue to grow as premiums rise around the world.
Multiplex took a tumble, falling 13c to $3.15, after revealing a $120 million first-half net loss caused by the troubled Wembley Stadium project.
AWB gained 11c to $4.21 after reducing its earnings guidance to about the level for the same period a year ago, due to the effect of the kickback scandal.
In the energy sector, Woodside plunged $1.59 to $41.14 and Santos, after more than doubling annual profit and pointing to a positive outlook amid increased production and high oil prices, fell 30c to $11.80.
Oil Search lost 5c to $3.70 and Beach, which confirmed a second oilfield at Manta-2A in the offshore Otway Basin, gained 2.5c to close at $1.15.
West Australian gas supplier Alinta climbed 34c to $10.92 after retaining its 2006 profit guidance following a 66.6 per cent increase in 2005 profit.
Goldminers had mixed fortunes, with Newcrest slumping $2.22 or 9 per cent to $22.08 despite reporting a 44 per cent increase in interim profit. Newmont rose 19c to $7.84 and Lihir firmed 3c to $2.15. Anglogold Ashanti closed 1c higher at $14.81.
The spot price of gold in Sydney was $US553.15 per fine ounce, down $US1.50 on Wednesday's close.
Telstra was steady at $3.89 while Singapore Telecom, the owner of rival Optus, fell 3c to $2.17.
The top traded stock by volume was Gawler Craton explorer Peninsula Minerals with 59.22 million shares worth $1.63 million changing hands as the shares rose 0.3c to 2.7c. They hit 3c during the day.