Positive results, market edges up

The sharemarket closed higher after a mostly positive day of company reporting, including Woolworth's first billion-dollar profit.
The market was helped by a positive lead from the US, but gave up part of the early gains as the day progressed.
The ASX 200 finished 11.1 points higher at 5063.6 points while the All Ordinaries rose 12 points to 5027.6 points.
Austock Brokers senior client adviser and strategist Michael Heffernan said it was a buoyant day for the market, despite the drop off in the afternoon.
"It started off being a beautiful green day but it has petered out a bit," he said. "The standout report was Woolworths, a stunning report and they keep on delivering the goods.
"I think we are going to get some pretty positive results over the next couple of days as well."
Woolworths reported a 24.3 per cent jump in annual profit to $1.01 billion for 2005-06, sending its shares 27c higher to $19.93.
The retailer said it expected growth of 16-21 per cent this year. It has forecast sales growth of 8-12 per cent in 2006-07, although consumers are spending less on discretionary items due to higher petrol prices and interest rates.
Coles Myer continued to be traded on takeover speculation, dipping 5c to $13.40.
Telstra fell 12c to $3.51 after the telecom downgraded its annual earnings guidance while locking in a dividend of 28c per share this financial year.
The group has cut revenue growth expectations to 1.5 to 2 per cent from the 2 to 2.5 per cent guidance presented at its annual results earlier this month.
The stock, which traded ex-dividend yesterday, closed at its lowest level since November 1997.
Shares in steelmaker BlueScope Steel also went backwards, down 7c to $6.72, after posting a 66 per cent fall in net profit to $338 million for 2005-06, compared with $982 million in the previous year.
It said increased volatility and higher raw material costs contributed to the lower earnings.
BHP Billiton rose 25c to $28.35 while Rio Tinto eased 58c to $74.67.
Explosives group Dyno Nobel posted a first-half net profit of $US44 million, in line with its prospectus, as it takes advantage of the mining boom. Its shares rose 5c to $2.53.
Woodside added 79c to $43.12, Oil Search was up 19c to $3.60 and Santos rose 16c to $11.71.
ANZ fell 7c to $26.97, Commonwealth Bank rose 12c to $45.47, NAB gained 17c to $36.70 while Westpac fell 10c to $22.89.
Online job advertiser Seek rose 30c to $4.80 after posting a 67 per cent jump in net profit to $34.15 million for the 2005-06.
Shares in Burns Philp have been placed in a trading halt pending an announcement by the company tomorrow.
The spot price of gold rose $US5.45 to close at $US619.25 an ounce compared with Friday's local finish.
Goldminers rallied, with Newcrest Mining up 21c to $19.71, Lihir Gold 7c to $2.94 while Newmont Mining was steady at $6.70.
The most traded stock was explorer Chrome Corporation, More than 105.6 million of its shares, worth $1.29 million, were traded. Its shares rose 0.2c to 1.3c.