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Australian shares were pulled up by blue chip stocks today with the All Ords rising 43.3 points or 0.8% to 5511.5.
() hit a record high of $87.63 before closing at $87.63 a 1.6% gain for the day. () rose to $6.475 its highest level since 2001. It closed up 1.6% to $6.44.
Other major banks also made gains with ANZ Bank (ASX:ANZ) up 1.1% to $32.57 () rising 1.1% to $35.15 and Bank () up 0.7% to $34.56.
Market action here…
Shares in () rose 16.4% to $3.05 with more than 8 million shares traded after reaching a high of $3.19 today.
Last week the company executed a Memorandum of Understanding with Kellogg Brown &; Root and SKEC relating to engineering procurement and construction of its Magnolia LNG Project in Louisiana.
Kellogg Brown &; Root and SKEC will form a 70/30 joint venture to deliver the 8 million tonne per annum project.
Magnolia LNG remains on schedule for Financial Close in mid-2015 and first LNG in the fourth quarter of 2018.
The MoU follows the execution of a Technical Services Agreement with SKEC in March 2014 and a subsequent Technical Services Agreement with KBR that was announced on 5th January.
Separately the company is on track to receive a U.S. patent for its core OSMR® LNG processing design after the United States Patent and Trademark Office allowed the patent application.
Here are some other companies that made gains of 10% or more.
() is up 25% to $0.01 while () gained 11.1% to $0.01.
Blue Chip Stocks
Major miners
() down 1.6% to $28.91
() down 2.8% to $2.07
Newcrest () down 2.0% to $13.53
(ASX:RIO) up 0.1% to $56.90
Oil and Gas
Oil Search () down 3.3% to $7.67
() down 3.0% to $7.57
() down 0.7% to $34.16
Other banks financials and industrials
() up 1.1% to $5.66
() up 0.2% to $12.12
Bendigo and Adelaide Bank () up 0.8% to $13.24
() up 0.4% to $61.29
Suncorp () up 0.1% to $14.35
() up 1.6% to $6.44
Retailers
JB Hi-FI () up 1.1% to $16.50
() up 1.3% to $43.69
Woolworths () up 2.9% to $32.46
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