By Michael Kitchen
LOS ANGELES (MarketWatch) -- Sydney-listed shares moved higher in early Thursday action but were off their highs in the opening minutes, with the market buying mining shares on firmer commodities prices but selling down insurance stocks. The S&P/ASX 200 was up 0.1% at 4,741.5 after 20 minutes of trading, with BHP Billiton Ltd. (AU:BHP 42.28, +0.61, +1.46%) (BHP 76.40, +1.57, +2.10%) rising 1.3%, Newcrest Mining Ltd. (AU:NCM 33.50, +0.55, +1.67%) (NCMGF 29.00, -0.50, -1.69%) advancing 1.6%, and Fortescue Metals Group Ltd. (AU:FMG 4.88, +0.03, +0.62%) (FSUMF 4.40, +0.15, +3.53%) up 1.2%. But financials were relatively weaker, with banks mixed and insurers lower. QBE Insurance Group Ltd. (AU:QBE 20.10, -0.28, -1.37%) (QBEIF 18.70, -0.30, -1.58%) lost 1%, Suncorp-Metway Ltd. (AU:SUN 8.48, -0.01, -0.12%) (SNMY.Y 7.72, -0.23, -2.89%) fell 1.1%, and Australia & New Zealand Banking Group (AU:ANZ 23.67, -0.21, -0.88%) (ANEWF 19.78, -19.78, -50.00%) was 0.8% lower. |
