By Michael Kitchen
LOS ANGELES (MarketWatch) -- Australia's benchmark index gained in early Thursday trade, with energy shares riding crude-price gains higher and some mining stocks also advancing as debate over the resources super-profits tax continued. The S&P/ASX 200 rose 0.6% to 4,410.7 in early morning action, with Woodside Petroleum Ltd. (AU:WPL 43.98, +1.11, +2.59%) (WOPEF 35.50, -0.95, -2.61%) up 1.1%, Santos Ltd. (AU:STO 13.09, +0.31, +2.43%) (STOSF 10.60, +0.25, +2.42%) gaining 1% and Oil Search Ltd. (AU:OSH 5.79, +0.18, +3.21%) (OISHF 4.95, +0.07, +1.43%) up 1.8%. Among miners, BHP Billiton Ltd. (AU:BHP 37.66, +0.54, +1.46%) (BHP 61.54, -0.07, -0.11%) underperform the broader market, adding 0.5%, but Rio Tinto Ltd. (AU:RIO 67.91, +1.53, +2.31%) (RTP 44.76, -0.14, -0.31%) rose 1.1% following a report in the Australian Financial Review that it may team up with Aluminum Corp. of China Ltd. (HK:2600 6.02, -0.02, -0.33%) (ACH 19.28, -0.22, -1.13%) on a bauxite project in Queensland. |
