Aust market up, led by resources

State One Stockbroking private client advisor Brett Walker said with little US economic data this week, the spotlight will be on next weeks November US payrolls on December 2.

"The Australian markets will be focused on economic data due later this week," he said. "Including retail trade and the balance of payments."

He said the gold and metal stocks pushed higher as the gold price strengthened intra-day. The spot price of gold on the local market closed at $US498.30, approaching the milestone $US500 an ounce mark, and up from Friday's close of $US495.25.

"Jubilee gained 2.7 per cent following continued exploration success announced on Friday," he said. "While Iluka weakened 1.7 per cent after its recent strong gains.

"Woodside and Alinta both posted gains today."

The West Australian Newspapers Holdings Ltd (ASX: WAN) announced that chief executive Ian Law had resigned after accepting a position as chief executive at Publishing and Broadcasting Ltd's Australian Consolidated Press Ltd unit. Law plans to leave WAN in May 2006, or earlier by mutual agreement. On the back of this news, WAN shed 2.4 per cent to close down $0.20 to $8.00.

The local gold stocks responded with Newmont Mining putting on 26 cents to $6.52 as its president said the company was considering a rival bid for Canadian takeover target Placer Dome.

Newcrest Mining jumped 94 cents to $21.61, Kingsgate Consolidated added 12 cents to $4.17 while Lihir Gold piled on 19 cents to $2.32.

Market at a glance:

All Ords +17.7 4610.2
ASX 200 +16.6 4665.3

Commodities

Gold +2.6 498.3
Silver +0.06 8.25
Oil - 58.30

WA Market

Woodside +70 35.30
Wesfarmers +11 36.89
Alinta +26 11.48
West Australian News -20 8.00
Iluka Resources -14 7.94
LionOre Mining Int. - 5.80
Jubilee Mines +19 7.20
Cons Mins -9 2.95
Minara Resources +3 171.5
Portman Mining +4 4.55
Paladin -1 2.09
Fortescue Metals Group +3 4.93
Aquarius Platinum + 25 11.05
GRD +7 2.74