Shares breaking records as miners, banks take off

Shares resumed record-breaking yesterday as rising US markets and commodity prices provided a warm welcome to what is tipped to be another strong February reporting season.
Alumina got the season off to a good start with a 62 per cent jump in annual earnings and a positive outlook from Adelaide Bank helped boost sentiment towards its bigger financial cousins.
The ASX 200 closed up 40.7 points at a record 5814.1, while the All Ordinaries was 39.1 higher for a record 5796.8.
Both previous records were set on Tuesday.
"The Dow closed up over 100 points last night on the back of their central bank keeping interest rates as they are," said Tony Russell, a manager with ABN Amro Morgan.
"We also had some increases in gold, base metal and oil prices last night, which has provided a windfall for local resource stocks."
BHP Billiton rose 21c to $26.25 while rival Rio Tinto, expected to report a record annual profit of almost $10 billion, shot up $1.69 to $78.29.
Alumina surged 36c, or 5.57 per cent, to $6.82 after it reported a 62 per cent rise in annual profit and forecast that the China-fuelled resource boom would continue to underpin increased production this year.
Higher zinc and lead prices provided a healthy boost for Zinifex, which rose 72c to $17.12.
Australia's banks had a big day thanks to expectations of sustained strong economic growth and a positive result from regional player Adelaide Bank.
"Buoyant economic activity underpins the earnings of the banks so that's one of the main reasons they are up," Mr Russell said.
"And, of course, Adelaide Bank, which released a profit downgrade three month ago, have come out today with a pretty good result."
Adelaide Bank rose 53c to $13.16 as it lifted its interim earnings and reinstated guidance that it would achieve 10 per cent earnings growth by year's end.
National Australia Bank climbed 36c to $40.78, the Commonwealth firmed 28c to $50.32, Westpac jumped 33c to $25.40 and ANZ rose 39c to $29.50.
Shares in Oil Search climbed 8c to $3.60 after it announced it had shelved its troubled $8 billion Papua New Guinea-to-Australia gas pipeline project.
But a rising oil price did little to help Santos, which fell 12c to $9.18 and Woodside, which ended steady at $37.35.
Spot gold in Sydney hit $US653.60, up $US7.90 on Wednesday night's close.
Newcrest advanced 25c to $21.15, Newmont gained 12c to $5.88 and Lihir Gold rose 9c to $3.18. Bendigo settled up 1c at 35.5c.
News Corp was up 5c to $31.50, its non-voters down 15c to $29.85, PBL rose 31c to $19.93 and Seven Network dropped 1c to $11.74.
Turnover was 1.77 billion shares worth $5.94 billion.