Resources, Toll the pin-up stocks

The sharemarket posted its biggest one-day gain in more than five months yesterday after resource stocks and the impact of Toll Holdings' victory in its battle for control of Patrick Corp propelled the bourse to a record high.
After choosing to take profits last week ahead of the Easter holidays, investors piled back into the market despite a weak lead from the US.
The benchmark ASX200 index soared more than 1.4 per cent, or 72.9 points, to 5248.6 - 1 per cent above its previous record on April 6. The broader All Ordinaries index rose 68 points, to 5200.3.
Shaw Stockbroking's head of trading, Jamie Spiteri, said the market attracted interest across the board from investors, although he singled out resource stocks as one of the main drivers of the rally.
Toll's win in its bruising, eight-month battle for Patrick Corp also provided the spark the bourse needed as investors contemplated a combined group set to join the country's top 50 companies.
"It certainly did contribute to [the bourse's rally]," Mr Spiteri said. "It just highlights the ongoing attention that the top end of the market is attracting."
Toll soared almost 9 per cent, or $1.18, to $14.30 and Patrick jumped more than 7 per cent, or 58c, to $8.61.
Asian markets also joined the celebrations yesterday, with both Japan's Nikkei 225 index and Hong Kong's Hang Seng soaring more than 1 per cent.
"We have got a region that is still being considered a growth region," Mr Spiteri said.
"Here in Australia we haven't been left behind."
The surge in the oil price beyond $US70 a barrel, due largely to fears about a deterioration in the stand-off between Iran and the West, also spurred on the major producers here.
Woodside Petroleum soared almost 4 per cent, or $1.70, to $48.50, Santos rose 48c to $12.33 and Oil Search jumped 19c to $4.30.
BHP Billiton, which is also an oil producer, rose 93c to $30.68 and rival miner Rio Tinto climbed 74c to $83.06.
Mr Spiteri said the benefits from the rising oil price on the bourse, which is somewhat reliant on the performance of the heavyweight miners, outweighed the negatives from companies heavily exposed to consumer spending.

However, the rising oil price has clipped the wings of Qantas, which fell 6c to $3.39 yesterday.
Among the banks, Westpac rose 18c to $24.65, National Australia jumped 46c to $36.99, the Commonwealth Bank climbed 81c to $46.31 and ANZ rose 23c to $27.30.
Nomura Australia's market strategist, Eric Betts, said he was surprised the banks performed as strongly as they did, given the sector stood to suffer from the prospect of higher interest rates overseas and the ensuing rise in bond yields.
Meanwhile, the spot price of gold continued to strengthen, closing at $US615.825 an ounce, up $US20.925 an ounce from Thursday.
As a result of the price rise, Newcrest Mining rose 61c to $22.86, Newmont 36c to $7.54, Kingsgate Consolidated 17c to $6.26 and Lihir 14c to $2.96.
Among the retailers, Woolworths jumped 38c to $19.01 after posted almost a 23 per cent rise in third quarter sales from continuing operations to $9.67 billion.
Media stocks foundered as Fairfax dropped 3c to $3.88, PBL 20c to $18.10 and News Corp 42c to $24.23. The latter's non-voting shares dipped 39c to $22.69.