Share buyers lose interest late in day

The sharemarket edged slightly higher yesterday, ahead of a US public holiday and an announcement on Australian interest rates today.

The ASX200 index gained 12.5 points, or 0.25 per cent, to 5104.7, while the All Ordinaries closed up 10.8 at 5060.7.

On the Sydney Futures Exchange, the September share price index contract closed day trading five points higher at 5102, on a volume of 12,283.

Man Financial broker Peter Oxlade said the market had started strongly after a boost from Wall St on Monday but fell back later in the day.

"Probably because of the US [Independence Day] holiday and everyone is just tidying up their books before the break," Mr Oxlade said.

"We get an announcement on Australian interest rates … there is certainly talk around the market of a potential rise but I think it is probably not the favoured scenario."

The Reserve Bank of Australia held its monthly board meeting on monetary policy yesterday and will make its decision public this morning.

The majority of economists expect the central bank to leave rates unchanged at 5.75 per cent.

The big oil and resources stocks were stronger yesterday, led by Woodside Petroleum, which rose 39c to $45.17, and Rio Tinto which was up 27c at $78.27.

Other oilies were mixed, with Santos up 19c to $12.35, Oil Search down 11c to $4.11 and Hardman up 4.5c at $1.805. Beach Pet was up 3.5c to $1.55.

Mining giant BHP Billiton fell 8c to $29.19 and industrial conglomerate Wesfarmers gained 38c to $36.06.

The big banks were mixed, with National Australia Bank rising 22c to $35.73 and the Commonwealth jumping 9c to $44.85, but ANZ shed 5c to $26.64 and Westpac slid 13c to $23.15. Investment bank Macquarie fell 64c to $69.00. Rival Babcock & Brown was up 1c at $21.58.

Goldminers were also varied, with Newcrest up 13c to $21.30, Newmont 8c stronger at $7.25 and Lihir down 6c to $2.95.

Anglogold Ashanti was one of the big movers during the session, rising 32c to $13.00.

Bendigo Mining was 1c lighter at $1.675 and Emperor continued to lag, losing a ha'penny to close at 39.5c.

Gold finished trading in Sydney at $US623.00 per fine ounce, up $US2.70 from yesterday's local close.

Shares in women's clothing retailer Noni B surged 37c, or 10.2 per cent, to $4.00 after it forecast a 20 to 25 per cent increase in net profit for financial year 2006.