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April 23rd, 2013 
Peter Nolan
THE Australian market has opened higher, lifted by a positive session on Wall Street and gains for Woodside Petroleum.
CMC Markets chief analyst Ric Spooner says Woodside’s decision to pay its shareholders a 63 US cent special dividend has pulled the local market higher.
“One of the particular things that has added to the atmospherics of the market at the moment is that Woodside has announced a special dividend,” he said.
“The reason the market likes that is that it is evidence of good conservative management and a rational approach.”
The other big miners opened lower.
BHP Billiton was down 18 cents to $31.54, Rio Tinto dropped 22 cents to $54.90 and Fortescue Metals lost six cents to $3.76.
Mr Spooner said Australian investors would also be waiting for the release of Chinese manufacturing data later on Tuesday morning to give some indication of the Asian nation’s growth prospects.
The four major banks had a positive opening.
Commonwealth Bank surged 50.5 cents to $69.835, Westpac jumped 35 cents to $31.67, ANZ gained 33 cents to $28.90 and National Australia Bank added 28 cents to $31.92.
Virgin Australia jumped 1.5 cents to 45 cents after the Australian Competition and Consumer Commission approved its acquisition of a 60 per cent stake in Tiger Airways.
KEY FACTS
* At 1024 AEST, the benchmark S&P/ASX200 index was up 43.3 points, or 0.87 per cent, at 5,009.9 points.
* The broader All Ordinaries index was up 43.3 points, or 0.87 per cent, at 4,998.7 points.
* The June share price index futures contract was up 47 points at 5,006 points, with 7,916 contracts traded.
* National turnover was 161 million securities worth $364.4 million.
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