Finance Finance News Share market makes positive start to 2014

Share market makes positive start to 2014

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The Australian share market has made a positive start to the new year, rising around half a per cent in morning trade.

The All Ordinaries index has begun 2014 with a 24 point rise to 5,378 by 11:37am (AEDT), and the ASX 200 was 26 points higher at 5,378.

The gains were broadly based, with miners, banks and the big supermarket retailers all higher.

Rio Tinto was up 1 per cent to $68.83, while BHP Billiton was 22 cents higher at $38.21.

Major bank gains extended from Westpac (up 0.1 per cent) to the Commonwealth (up 0.5 per cent).

Woolworths was up 0.6 per cent and Wesfarmers 0.5 per cent to $44.26.

Other retailers were mixed though, after most had enjoyed a good run through the lead up to Christmas: JB Hi-Fi and Myer were both up 0.4 per cent, but David Jones and Harvey Norman were down 0.3 per cent.

Telstra has extended its recent gains, up 0.3 per cent to $5.265.

The Australian dollar had edged a little higher to 89 US cents.