BHP, Rio and Woodside help Australian sharemarket rise

THE Australian stock market edged higher in early trading today, buoyed by gains in BHP Billiton, Rio Tinto and Woodside. The benchmark S&P/ASX200 was up 8.03 points, or 0.21 per cent, at 3826, while the broader All Ordinaries had gained 9.32 points, or 0.24 per cent, to 3822.6. Stronger metals and oil prices helped most resources stocks begin in positive territory. Mining giant BHP Billiton was up 14 cents to $34.80, while rival Rio Tinto gained 93c to $65.47. Santos added 1c to $14.61 and Oil Search lifted 11c to $5.57. Woodside Petroleum said it was looking to use the Port of Broome in Western Australia as a service hub for its Browse Basin liquefied natural gas development. Woodside shares added 35c to $43.70. On Wall Street on Friday, the Dow Jones Industrial Average gained 96.53 points, or 1.15 per cent, to 8,500.33. The tech-heavy Nasdaq climbed 1.29 per cent to 1774.33 and the broad-market S&P 500 index added 1.36 per cent to 919.14. source：www.theaustralian.news.com.au