Market survives a weak opening to finish higher

The sharemarket ended the day in positive territory despite its weaker opening, as good company results bolstered confidence.
The ASX 200 index closed up 15.7 points at 6005 and the All Ordinaries had gained 18.8 to 5997.4.
ABN Amro Morgans's director of equities in Brisbane, Bill Chatterton, said the Australian market had a somewhat volatile day, dominated by company results. "We had a high in the market of 6036 and a low of 5956, so about 70-odd points in terms of trading range, which compared to the past few days is relatively minor."
Mr Chatterton said it was a huge day for companies reporting full year earnings.
"That is what buoyed the market today and, generally speaking, those results coming out were pretty good," he said. "There were some special ones, like CSL which was outstanding."
CSL shares finished $2.88 higher at $93.06 after reporting a 54 per cent lift in 2006-07 net profit to $539.3 million.
It forecast further profit growth of between 25 and 30 per cent in 2007-08.
The world's largest miner, BHP Billiton released another record result as markets were closing. Its shares ended down 10c at $35.40 after BHP reported a 28.4 per cent rise annual profit to $US13.4 billion ($16.7 billion).
Rival Rio Tinto dropped 87c to $85.43 but Alumina ended 1c firmer at $6.48.
Other companies reporting yesterday, such as Woodside, Brambles, Toll and Perpetual, all posted above expectations and with management offering positive guidance.
The banks toughed it out, with only the Commonwealth doing better, up 25c to $54.40. NAB was 46c cheaper at $39.64, ANZ down 11c to $28.78 and Westpac falling 28c to $26.35. The nation's fifth-largest bank, St George, fell 89c to $33.70.
Engaged couple Bendigo Bank and Adelaide Bank were both up a penny to $15.93 and $15.45.
Macquarie Bank continued its recovery, rising $3, or more than 4 per cent, to $74.85, while rival Babcock & Brown picked up steam, adding 78c to $22.60.
Gold miners gained, with Australia's largest gold producer, Newcrest, rising 4c to $25.10, while Newmont was up the same amount to $5.
Lihir Gold managed to gain 1c to $2.92 despite reporting a first-half loss due to the effect of losses on its gold hedge book and early repayment of a gold loan. The net loss for the six months to June 30 was $US53.1 million ($66.4 million).

Australia's third-largest winemaker, McGuigan Simeon Wines, expects to return to profitability this year after posting its second consecutive annual loss, $5.9 million, better than the $11.5 million loss in 2005-06. Its shares were down 0.5c to $1.955.
Specialty Fashion shares climbed 19c to $1.64 after the company delivered a net profit of $32.1 million, compared with a loss the previous year of $13.81 million.
Shares in Australia's biggest gas and electricity retailer, AGL Energy, fell 36c to $15.45 after it posted full-year earnings in line with its forecasts. However, AGL said it was losing customers, led by Victoria.
Others in the energy sector ended lower, with Santos falling 9c to $11.80 and Woodside Petroleum slipping 1c to $40.99. Beach lost tuppence to $1.12 but Oil Search actually gained 14c, closing at $3.40. Driller Boart Longyear was up 4c to $2.06 on big volume.
Woodside's 16.3 per cent rise in 2007 half year profit was overshadowed by expected cost overruns at the North West Shelf Joint Venture, and the Otway project in Victoria.
Market turnover was 1.9 billion shares worth $6.2 billion, with 651 stocks rising, 581 falling and 298 unchanged.