Reasonable dividend has probably driven the recent rise to a...

Reasonable dividend has probably driven the recent rise to a large extent as the market has slowly realized that the dividend is likely to be sustainable and yield hungry investors come to the party.

Now further rises may be driven by the rebuilding response to the bush fires. Very unfortunate for those affected but cleaning up and rebuilding is going to add to existing stimulatory infrastructure expenditure. The rebuilding in particular is going to be a positive for building supply companies such as CSR (as the Christchurch earthquakes were for companies in New Zealand).