Resource stocks bounce back, All Ords up 80 points

The sharemarket closed stronger yesterday as a rebound in resource stocks helped propel the indices higher.
The ASX 200 index closed up 87.7 points at 5589.7 and the All Ordinaries was up 79.6 at 5564.1.
CMC Markets analyst David Land said renewed strength in resource companies helped underpin a rebound in the bourse, despite a mixed session for metal prices overnight.
"Across the board we've seen sectors generally higher with plenty of life in resources, particularly looking at the materials sectors, with some pretty good movements across the main headline stocks," Mr Land said.
"Evidently, the market saw that resources had sold off enough.
"We have seen some pretty heavy moves down in the last four days and you don't necessarily expect these moves to continue for an extended period."
BHP Billiton jumped 84c to $24.70, while Rio Tinto climbed $2.14 to $71.64.
Poor old Bendigo Mining came back on the board at 29c and closed at 30c, down 43.5c, almost 60 per cent, following Monday's announcement of a management reshuffle and suspension of production. It was the top traded stock by volume with 114.1 million shares worth $36.6 million going through.
The spot price of gold in Sydney closed at $US612.50 per fine ounce, up $US2.70 from Monday.
Newcrest rose 68c to $24.80, Newmont eased 10c to $5.54 and Lihir edged up 4c to $2.91.
Boutique brewer Empire Beer came on the market at 30c, down 5c on the 35c issue price.
Also in beverages, Lion Nathan rose 3c to $8.07, while Foster's was up 17c at $6.88.
Other boutiques - note, they're all West Australian - were also under water: Gage Roads, up 0.5c at 39.5c (issued at 40c) and Oz Brewery, down 0.5c at 15.5c (issued at 20c). Fremantle brewer Little World Beverages was down 3c to $1.56 but well up on the $1 issue price.
Insurance Australia Group climbed 16c to $6.54 after it completed its £570 million ($1.4 billion) acquisition of UK motor underwriter and broker Equity Insurance Group.
QBE Insurance fell 30c to $28.50 and Suncorp-Metway rose 16c to $20.35.
National Australia Bank was 65c higher at $40.40 after it said its wealth management arm had shifted its asset allocation in listed property multi-managers completely to offshore securities.
ANZ increased 18c to $27.69, Westpac climbed 53c to $24.01, the Commonwealth rose 84c to $49.51 and St George lifted 46c to $32.56. Macquarie Bank rose 86c to $76.60.
News Corp climbed 40c to $28.98, with its non-voters up 39c at $27.79. PBL also grew, up 28c to $20.23, and Ten gained 7c to $3.23.
Telstra edged up 4c to $4.10.
The best percentage improver on the day was medical laser supplier Norwood Abbey, up 3c to 12c, having traded as high as 17c, on volume of 50 million shares.