1 June 2005, 11:11  Australian share prices closed higher

Share prices closed higher boosted by an improving export performance and a decline in the likelihood of further interest rate hikes this year, dealers said. They said national accounts data for the first quarter, showing moderating domestic demand but better export performance apart from the rural sector, helped investor sentiment. The S&P/ASX 200 closed up 41.4 points or 1.01 pct at 4,147.8, just off its high for the day of 4,149.8 and an intra-day low of 4,098.8. The broader All Ordinaries closed up 33.3 points at 4,103.7. Dealers said gains were broad with banks leading the way apart from Westpac which fell after trading ex-dividend. The latest economic data pointed to a continuing benign interest rate environment which helped the banks.

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