Bourse records another strong week

The sharemarket might have ended the week with a whimper but resources and building materials stocks still helped it record its fourth consecutive weekly gain.
The profit-taking on Friday did little to overshadow a stellar start to the second quarter, as the bourse rose 2 per cent over the week and posted record highs on three out of five trading days.
Investors remain bullish about the market's short-term outlook, although concerns loom about the likelihood of interest rates rising sooner than expected.
The benchmark ASX 200 index fell 6 points to 5232.9 on Friday but was still up 103.2 points over the week. The All Ordinaries closed down 3.6 points at 5186.7 on Friday but was up 99.5 points over the week.
Nomura Australia's market strategist, Eric Betts, said the resource companies and materials stocks such as cement and asphalt maker Rinker, which delivered its fourth profit upgrade in a year on Thursday, had underpinned the gains over the week.
"The global vibe is continuing to drive the market," Mr Betts said, emphasising the gains made by companies heavily exposed to overseas markets.
"The only cloud over the market is the prospect of rising interest rates. I am not a bear but I think it will lead to short-term profit-taking."
The biggest float of the year, Dyno Nobel, on Friday was the "icing on the cake".
The world's second-biggest explosives maker closed up 31c at $2.68 - a 13 per cent premium to its listing price.
Dyno's gains also rubbed off on rival Orica, which rose 44c to $24.74 on Friday, up more than 6 per cent over the week.
Among the heavyweight miners, BHP Billiton, surpassed $30 a share for the first time this week but closed down 32c at $29.50 on Friday. Rio Tinto also fell 10c to $83.70 on the day but was up more than 6 per cent over the week.
The big miners and gold producers have benefited from the spot price for the precious metal closing near $US600 an ounce. Lihir Gold fell 1c to $2.84 on Friday but was up more than 6 per cent over the week.
"If you see continued record highs for the commodities and gold there is no reason why those stocks can't go higher," CMC Markets senior dealer James Foulsham said.
"Everything it [the gold price] has been doing over the last year indicates it could keep going higher."
AMP Capital Investors' head of investment strategy, Shane Oliver, said April tended to be a strong month for the Australian sharemarket, lagging just behind December.
"However … investors should be prepared for a volatile ride as profit growth slows and sharemarkets undergo ongoing bouts of paranoia about inflation, global interest rates, commodity prices and oil prices," he said.