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Local shares edged higher Friday morning with modest, but broad-based gains. The rise followed a similar gain from Wall Street overnight, as investors there are cautiously optimistic following better than expected jobs data.

At noon, the All Ords was up 27.3 to 4784.9, while the ASX/200 edged 28.6 to  4,779.1. Over 1.2 billion shares worth around $2.4 billion had changed hands.

In a quite day for news, the Banks and Financials sector gained 0.6%.

ANZ was the best performer among the big four banks, adding just 22c, or 0.9%, $23.89. NAB was the only one below the line, down 8c, or 0.3% to $26.57.

Macquarie continued to edge higher, up 92c to $48.18.

Among the insurers, QBE added 42c, or 2.1% to $20.52, while Suncorp-Metway showed strength, up 12c to $8.62.

The Property Trusts sector was 0.2% lower, with many stocks trading around 1% below the line including Mirvac and Stockland.

Westfield was just 0.2% higher at $12.26.

The Materials and Resources sector was 0.7% stronger. The two heavyweights, BHP Billiton and Rio Tinto, were marginally higher, gaining 0.7% and 0.8%.

Fortescue gained 5c or 1% to $4.93, while Aquila Resources added 19c, or 1.9% to $10.41. The two miners said they would team up to build a new deep-sea port in the West Australian Pilbara coast.

Meanwhile, Lihir shares dipped 1c to $2.93 after the company said it had finally dumped its Ballarat Gold Project for $4.5 million, losing hundreds of millions along the way.

Macarthur Coal and OZ Minerals were up 2% and 2.3%, outperforming much of the sector.

The Energy sector put on 0.5%, with Woodside up 29c, or 0.7% to $44.58.

AWE jumped out of the blocks, adding 12c, or 4.7% to $2.67, while Whitehaven shed 4c, or 0.9% to $4.62 after going ex-div today.

The Consumer Discretionary sector was 1.2% stronger. Gamers, retailer and media stocks all contributed to the gains.

Billabong, Crown and Newscorp were the standouts in each sub-sector, rising 3.4%, 2.6% and 1.9% respectively.

Education provider Navitas rallied 18c, or 3.7% to $5.07.

Consumer Staples stocks were more mixed, with Wesfarmers shedding 47c, or 1.4%, while Woolworths was up 23c to $28.03.

The sector was 0.2% in the red.

Asciano Group celebrated breaking into the top 50 Australian stocks with a 4c gain, or 2.2% to $1.86.

Downer EDI put on 26c, or 3.4% to $8.00, while profit takers moved in on Virgin Blue sending its shares 2.1% lower. The airline had put on over 17% this week.

Rival Qantas was up 7c to $2.80 as the Industrials sector gained 0.7%.

Meanwhile, Reece slumped $1.20, or 4.6% to $24.80.

CSL managed to put on 67c, or 1.9% to $35.47 and Sonic added 31c, or 2.4% to $13.44. Healthcare was 1.3% higher.

Telstra shares tacked on 1c to $2.93, as the broader Telecommunications sector added 0.6%.

Around the region, the Nikkei 225 gained 203.3 to 10,349.1, while the NZSE50 rose 5.3 to 3,218.9. The Straits Times Index advanced 20.1 to 2,788.8.

Spot gold was trading at US$1,131.30 per ounce, while the Aussie was buying US$0.9004.

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Lihir dumps Ballarat for just $4.5m
Lihir Gold said it reached an agreement to off-load its ill-fated Ballarat gold project in Victoria to Castlemaine Goldfields in Victoria. Under the agreement, Lihir said it would receive $4.5 million in cash in addition to a 2.5% royalty interest in future production, capped at $50 million.

At noon, Lihir Gold shares were down 2c to $2.92.

Brickworks acquires Sasso
Brickworks purchased NSW based precast concrete panels manufacturer Sasso Precast Concrete for $35.25m. The company said the acquisition would diversify the building products offering and would be immediately earnings per share positive for the company.

At lunch, Brickworks shares were down 3c to to $12.25.

Aquila gets nod for new deep sea port
Aquila Resources said the West Australian government has approved the development of a new deep-sea port at Anketell Point on the West Pilbara coast. The project is expected to receive final approval by 2011, with production expected by 2013.

At midday, Aquila shares were trading up 17c at $10.39.

OceanaGold closes offer of subscription receipts
OceanaGold Corporation said it has closed the offering of subscription receipts in connection with its previously announced equity raising and as a result has issued about 31.16 million subscription receipts at a price of C$2.05 for proceeds of approximately C$63.89 million. The company said each subscription receipt would entitle the holder to receive one common share of the company upon satisfaction of certain release conditions.

At lunchtime, OceanaGold shares were up 3c to $2.55.  

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