Oil and metals up, so shares rise too

The sharemarket finished in positive territory, boosted by higher base metal and oil prices.
The ASX 200 was up 42.8 points to 5120 while the All Ordinaries gained 41.7 to 5082.1.
Tony Russell, ABN Amro Morgans Ipswich manager, said higher commodity prices buoyed the market. "We've seen the market close on its highest point, kicking up at the end," he said.
"It's certainly been fuelled by higher commodity prices but is also in anticipation of a stronger opening in the US this evening."
Woodside Petroleum surged $1.60 to $45.25 as world oil prices rose, while Santos rose 17c to $11.82 and Oil Search added 19c to $4.30.
In the gold sector, Newcrest jumped $1.10 to $20.40 even as the company was forced to abandon its production forecast for the Telfer mine after variable ore types again affected operations.
Newmont gained 36c to $7.23 while Lihir lifted 28c to $3.24.
BHP Billiton was up 37c to $28.85 and Rio Tinto put on 69c to $79.89.
The Commonwealth Bank was steady at $44.10 as it confirmed its asset management business was part of a Goldman Sachs-led consortium considering a possible offer for Britain's BAA, the world's largest airport operator.
NAB rose 10c to $35.50, Westpac was steady at $22.45 and ANZ added 13c to $26.79.
ETrade Australia rose 15c to $2.68 after agreeing to acquire HSBC Stockbroking (Australia) from HSBC for $51.3 million.
Shares in junior explorer and miner Rey Resources began trading on the ASX at a 5c discount to the issue price of 25c and closed at 16.5c.
Managing director Bruce Preston said Rey's tough introduction to life as a public company was not a great concern. "It could have been better, but that's the market," he said.
UNiTAB gained 12c to $15.02 as the gaming company knocked back a $1.9 billion takeover offer from Tabcorp.
Tabcorp fell 10c to $15.50 and Tattersall's, which made an earlier merger bid for UNiTAB, lost 2c to $2.96.
Shares in publisher John Fairfax fell 9c to a 21-month low of $3.73 after saying its full-year result would be affected by a soft advertising market.
Fairfax now expects 2005-06 full-year earnings before interest and tax to be between $420 million and $430 million, excluding significant items, in the June 30 year.
Seven Network was steady at $8.50 and Ten fell 2c to $2.98.
Telstra rose 1c to $3.80, while Optus owner Singapore Telecom fell 4c to $2.10.
Drug developer Cytopia has signed a licence and research deal with global pharmaceutical firm Novartis potentially worth more than $274 million. Its shares fell 5.5c to 96.5c
Qantas rose 4c to $3.24. Japan Airlines is preparing to check in to the global oneworld alliance, of which Qantas is a member, helping to boost the network's market share and revenue.
The most actively traded stock by volume was Range Resources with 27.26 million shares worth $817.56 million changing hands. Shares in the uranium miner lost 0.5c to 2.9c.