Banks greater market share drive (The Australian)

The Australian share market was taken slightly higher by the big four banks and minors.

But smaller banks lost ground in the middle of the expectations that they will be hardest hit by banking reforms of the Federal Government, unveiled yesterday.

Benchmark S & P/ASX200 index had increased 11.2 points, or 0.24% Home 4,757.1 points, while the broader index of all persons increased 11.2 points or of 0.23 percent 4,841.2 points.

ASX 24 December price index future share contract inched one point higher than 4,760 points with 56,377 negotiated contracts.

Analyst market CommSec as Juliet Saly said that the big banks have been all the more powerful, after the publication of federal banking reform of competition during the weekend action.

But the smaller banks like Bendigo and Adelaide Bank and Bank of Queensland, could not regain the ground lost in the trade at the beginning.

"We also had the investigation of the Senate on the industry today, with (Reserve Bank of Australia) Governor Glenn Stevens essentially saying it was not his job to attack or defend the banks, but he said that there may be unexpected consequences on the track of some of these reforms," said Ms. Saly.

Westpac was the best performer among major banks, 33 cents or 1.46 percent, to $22.90.

ANZ gained 27 cents or 1.13 percent, to $24.10, Commonwealth has been up to 61 cents or 1.21 percent, to $51.20 and the National Bank of the Australia established 35 cents or 1.45 percent to $24.57.

Bank of Queensland completed 40 cents or 3.52 per cent, to $10.97 then that Bendigo and Adelaide Bank drops 34 cents or 3.32 per cent in $9.91.

These stocks are the worst and worst second interpreters, respectively on the S & P/ASX 100 index.

Best-performing stock index S & P/ASX 100 has been mining contractor Boart Longyear, 14 cents, or 3.27%, to $4.42.

Rio Tinto has increased by 41 cents to $87.77 and BHP Billiton was stable at $45.44.

Fortescue appreciated 12 cents or 1.83 percent, to $6.66 after announcing he priced from $US1.5 billion (A1.53 billion) notes not guaranteed in two tranches.

A low-priced yet seen Newcrest Mining shares dropped $11 cents to 40.13.

Sydney gold spot price was $US1, 388.505 per fine ounce, low US2.845 $ Friday closing price of $US1, 391.35.

The headlines of newspapers today, receiving have been appointed to coal River Pike almost a month after an explosion of gas mine near Greymouth, New Zealand killed 29 miners, prompting the suspension of operations.

Ms. Saly said the Westfield detail list has been disappointing, closure of nine hundred or 3.27%, to $2.66.

Tabcorp Holdings, says that he has made an agreement with the Government of Queensland to stimulate expansion plan budget in the State to 625 million dollars in exchange more machines and gaming tables.

Tabcorp Holdings relaxed shares seven cents to $7.12.

Fairfax Media has stated that he had purchased Australia and worn New Zealand bidding site Web TenderLink for $NZ21.6 million (A16.43 million).

Fairfax has decreased by half a cent to $1.41.

Australia-Typ brought the gas treatment has been the most rated stock traded volume with 143.13 million 32,13 million shares change hands.

Shares in the company plunge 28 cents or 55.45 per cent to 22.5 cents after that he announced a drilling program has found oil.

Global market turnover was 2.65 billion shares 4.63 billion, with 565 stocks up, 571 bottom and 393 unchanged.