Resources dig deep for incline

GAINS in the resources sector have offset losses from retail, health and telco stocks to lead the share market modestly higher.

The benchmark S&P/ASX 200 index rose 0.12 per cent as consistently improving commodity prices boosted miners.

Consumer staples, property, healthcare and telecommunications came under pressure amid a risk-on environment, Bell Direct equities analyst Julia Lee said.

“Once again the resource space has been the outstanding performer with gold stocks up strongly and the energy sector has lifted by more than 1 per cent,” she said.

Oil giant Woodside Petroleum gained 27¢ to $29.57, Origin Energy added 4¢ to $5.66 and Santos was 15¢ higher at $3.82.

BHP Billiton rose 38¢ to $22.85, Rio Tinto lifted 22¢ to $50.96 and Fortescue Metals dropped 10¢ to $5.05. Gold miner Newcrest added 53¢ to $22.63.

Telstra shed 3¢ to $5.06, Wesfarmers fell 32¢ to $44.28 and CSL slipped 24¢ to $105.63.

At the close, the benchmark S&P/ASX 200 index was up 6.7 points, or 0.12 per cent, at 5442.1 points and the All Ordinaries was up 7.8 points, or 0.14 per cent, at 5526.2 points.