The share market has posted a seventh straight session of gains, taking it to another new six-year high.
CommSec market analyst Steven Daghlian said gains were made despite some big companies going ex-dividend, meaning new shareholders aren’t eligible for the latest payout, which typically causes a share price fall.
“We’ve had a number of relatively large companies being ex-dividend this week, CBA and Suncorp for example, and the market still managed to improve off the back of this,” he said.
Gas giant Santos was among the best performers on Friday, after it announced it will pay a higher dividend.
Its shares gained 57 cents, or 3.9 per cent, to $15.16.
Most of the banks also rose, with ANZ gaining 26 cents to $33.47, NAB rising 10 cents to $34.46 and Commonwealth Bank lifting 34 cents to $80.61.
Westpac dropped five cents to $34.89.
The big resource players bucked the positive trend, as investors punished them for disappointing dividend offerings.
“Some of the bigger miners haven’t been sharing as much as their profits with investors as what some shareholders would have liked,” Mr Daghlian said.
BHP dropped 23 cents to $37.80, Rio shed 20 cents to $65.40 and Fortescue was six cents weaker at $4.42.
Crown Resorts gained 20 cents to $16.18 after striking a deal with the Victorian government to pay less tax on VIP gaming, increase its table games and poker machines, and extend its Melbourne casino licence.
Rival Echo Entertainment shed eight cents to $3.15.
KEY FACTS
* At the close on Friday, the benchmark S&P/ASX200 index was up 6.7 points, or 0.12 per cent, at 5,645.6 points.
* The broader All Ordinaries index was up 6.5 points, or 0.12 per cent, at 5,640.5 points.
* The September share price index futures contract was four points higher at 5,609 points, with 17,631 contracts traded.
* National turnover was 1.86 billion securities worth $4.86 billion.
