Australian share prices closed 0.1 percent higher on Monday against a backdrop of mixed investor sentiment and little direction from offshore markets, dealers said.
They said uncertainty existed about whether the market had the capacity to push through the psychologically important 5,000 barrier and some consolidation is likely before the next move up.
The key SP/ASX 200 gained 5.4 points at 4,903.9 while the broader All Ordinaries Index added 5.3 points to 4,867.4.
A total of 1.17 billion shares worth 2.99 billion dollars (2.2 billion US) changed hands, with falls outnumbering rises 553 to 527 while 301 closed steady.
Bell Potter private client advisor Stuart Smith said many investors were uncertain about where share prices were heading because of conflicting views on commodity prices and global economic growth.
"Balancing it out the market managed to end up slightly higher helped by the US Dow Jones futures pointing up in the afternoon," he said. "We're due for a rest but we just won't lie down."
Dealers said the market remained in negative territory over much of the trading session while investors sought direction from local company news. Publishing and Broadcasting rose after announcing it paid 900 million US dollars for the right to own and operate hotel casino resorts in Macau. PBL shares jumped 0.40 dollars or 2.34 percent to finish at 17.47.
Insurance stocks QBE and Promina dropped after trading ex-dividend. QBE shares lost 0.31 to close at 20.91, Promina fell 0.14 to 5.42, AMP eased 0.02 to 8.53 and IAG slipped 0.08 to 5.10.
The nation's largest land transport group Toll Holdings climbed after buying a 60 percent stake in Singapore's Sembcorp Industries' logistic unit. Toll also extended its take-over offer for Patrick Corp until April 13.
Toll Holdings jumped 0.43 or 3.67 percent to close at 12.15 while Patrick Corp eased 0.06 to 6.91.
BHP Billiton rose 0.17 to 24.51 and Rio Tinto climbed 0.50 to 70.85. Alumina gained 0.07 to 6.93 but Zinifex fell 0.08 to 7.85 and Iluka eased 0.03 to 6.80.
Newcrest was steady at 21.75 while Lihir Gold added 0.08 to 2.34 but Oxiana slipped 0.035 to 1.995.
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