THE Australian stockmarket finished higher yesterday, holding on to early gains as firmer commodity and gold prices supported the broader market. The benchmark S&P/ASX 200 index closed up 38.6 points, or 0.79 per cent, at 4950.7, while the broader All Ordinaries index ended 39 points, or 0.79 per cent, higher at 4981.2. On the Sydney Futures Exchange, the March share price index futures contract gained 38 points to 4933 on a volume of 15,971 contracts. Shaw Stockbroking senior dealer Jamie Spiteri said the market held on to its early gains, stabilising at its upper levels, with resource stocks leading it higher. "The market here has moved with anticipation of stronger moves and demand for the resources sector and base metals this evening," Mr Spiteri said. "We've seen the gold price up $US15 and Aussie dollar strength on the back of some positive export numbers out of China." The Chinese government reported on Sunday that the country's exports for December jumped 17.7 per cent, breaking a 13-month falling streak. China's Finance Minister also said the government would probably spend all of its planned stimulus this year, despite improvements in its economy and efforts to control bank lending. Major gold stocks outshone other sectors, as the spot price of gold in Sydney finished yesterday's session at $US1154.43 per fine ounce, up $US16.18 from Sunday's closing price. Lihir Gold surged 10c, or 2.98 per cent, to $3.46, while dual-listed Newmont Mining jumped 14c, or 2.64 per cent, to $5.44 and Newcrest Mining gained 62c, or 1.71 per cent, to $36.82. Rio Tinto climbed 99c, or 1.25 per cent, to touch $80 for the first time since September 2008. Rival BHP Billiton gained 85c, or 1.95 per cent, to $44.47. Among oil stocks, Woodside Petroleum gained 58c, or 1.19 per cent, to $49.28 and Santos firmed 11c to $14.40, but Oil Search eased 1c to $6.15. Santos said yesterday that it was continuing talks with Asian parties about the potential purchase of an equity stake in the $7.7 billion Gladstone liquefied natural gas project and LNG sales. Australia's lenders nudged into positive territory, with Bank of Queensland the one exception -- down 12c, or 1.03 per cent, to $11.58. National Australia Bank gained 35c, or 1.3 per cent, to $27.25 and Commonwealth Bank added 41c, or 0.73 per cent, to $56.57. ANZ put on 14c, or 0.63 per cent, to $22.39 and Westpac firmed 3c, or 0.12 per cent, to $25.18. Among retailers, Wesfarmers put on 9c to $31.55, while rival Woolworths fell 9c to $28. Big store owners fell, with David Jones down 10c, or 1.93 per cent, to $5.07, Myer Holdings off 5c, or 1.39 per cent, to $3.55 and Harvey Norman easing 2c to $3.86. Media stocks were mixed, with Consolidated Media down 3c to $3.04, Fairfax Media steady at $1.72 and News Corporation up 3c to $17.86, while its non-voting scrip gained 3c to $15.26. Ramsay Health Care lifted 13c to $11.20 after the hospitals operator said it would buy a majority stake in French peer Groupe Proclif for $142 million. Monitor Energy was the top-traded stock by turnover, with almost 138.7 million shares changing hands for $972,050 and leaving the share price steady at 0.7c. National turnover reached 2.1 billion shares traded for a value of $3.6 billion.

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