Aust stock market closes fraction higher

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Aust stock market closes fraction higher

INDEX MOVEMENT POSITION INDEX MOVEMENT POSITIONAll Ords +3.2 2847.4 Dow Jones +77.73 8069.86 S&P/ASX200 +0.1 2882.3 S&P 500 +10.3 858.48 SPI contract +4 2891.0 Nasdaq +7.13 1348.30 Gold $USoz -3.575 332.30 Nikkei +69.45 8056.17 $A/USD -.0000 0.6035 NZSE-40 +4.429 1895.043

MELBOURNE, April 2 AAP - The Australian share market finished just a fraction aheadtoday, hauled over the line by market heavyweight News Corp.

The market got off to a strong start following a rebound on Wall Street overnight onrenewed hope of a quick end to the war in Iraq. But it finished with a sell-off, and thefour major banks all losing ground.

The benchmark S&P/ASX 200 index closed 0.1 of a per cent higher at 2882.3 while theall ordinaries index gained 3.2 points to 2847.4.

On the Sydney Futures Exchange, the June share price index contract was four pointsstronger at 2891.0 - a 7.7 point premium to the underlying index - on a volume of 11,123contracts.

News Corp surged 3.7 per cent, or 40 cents, to $11.03, amid reports a rival bidderfor United States satellite television operator DirecTV had pulled out of the race.

News Corp's preferred shares added 29 cents to $9.17.

On Wall Street overnight, markets headed higher after four days of losses, postinggains amid speculation Iraqi president Saddam Hussein might have been killed in bombingraids.

The speculation was fueled by a televised message from Saddam which was delivered bythe Iraqi information minister, and sent stocks higher despite unexpectedly weak manufacturingdata.

The Dow Jones industrial average closed up 77.73 points or 0.97 per cent at 8,069.86,and the broader Standard & Poor's 500 Index rose 10.30 points or 1.21 per cent to 858.48.

The Nasdaq Composite Index gained 7.13 points or 0.53 per cent at 1,348.30.

Stock Move Price

AMP +0.080 7.010

ANZ Bank -0.140 18.060

BHPBilton +0.120 9.190

CBA -0.110 26.220

NAB -0.100 32.350

NewsCorp +0.400 11.030

Rio Tinto +0.190 31.260

TelstraCp +0.050 4.140

WestpacBk -0.310 15.210

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KEYWORD: AUST STOCKS CLOSE