Miners push ASX higher at market close
Last updated 4:25pm AEST
Australian miners helped the ASX close higher, holding on to solid gains throughout the day – making it the third consecutive session the local market has finished in positive territory.
The S&P/ASX200 gained 70.30 points or 1.02%, to finish the day at to 6,964.50.
Materials was the best performing Sector, gaining 2.19% for the day.
Amongst miners, Nickel Industries Limited (NIC) was a top performer, finishing the day up 6.70%, after easing back slightly from earlier trading.
The All Ordinaries closed up, gaining 69.20 points or 0.97% to 7,208.20, and crossing above its 20-day moving average.
ASX tracks up, as miners gain
Last updated 2:30pm AEST
The ASX continued gaining throughout afternoon trading, led by strong increases amongst Aussie miners.
S&P/ASX200 was up 1.06% to 6,967.10, with Gold Resources Limited and Nickel Industries Limited (NIC) amongst the miners leading the way. Their share prices were up over 7% and 6% respectively.
10 of 11 sectors were higher along with the S&P/ASX 200 Index. Materials was the best performing sector, gaining more than 2%
Meanwhile, Adore Beauty Group (ASX:ABY) shares rose more than 6% to trade around $AU1.80, as it shakes off some of the heavy losses sustained so far this year.
The Australian All Ordinaries remained up over 1% for the day.
ASX continues gains in afternoon trading
Last updated 12:20pm AEST
The ASX has continued moving upwards in early afternoon trading, as it continues tracking Friday’s Wall Street gains.
The S&P/ASX200 was up over 1% and crossed above its 50-day moving average.
Amongst the top gainers were Global Lithium Resources (GL1) and EML Payments (EML), which were up more than 11%, and over 5% respectively.
Across the market, all 11 sectors were higher. Materials was the best performing sector, gaining 2%; and 5% for the past five days.
The Australian All Ordinaries was also up more than 1% for the day.
ASX opens up, following on from last week’s gains
Last updated: 10:20am AEST
The S&P/ASX200 opened up today, following on from steady gains made on Friday.
It was sitting at 6,956.70 in early trading, gaining 62.50 points or 0.91%, crossing above its 50-day moving average.
The All Ords was up 0.97%, gaining 69.20 points and sitting at 7,208.20.
Eyes are on the Australian tech space, which has been the focus of a number of takeover overtures recently, as beaten-down local technology stocks continue to make prime targets for international investor groups.
Pre-market breakdown
The Australian market is set to have a strong start to the week, with ASX futures up 1.15% to 6,963.0 approaching 7am AEST.
The local market is set to follow gains made in U.S markets, which ended the week rallying strongly, snapping a three-week losing streak.
The S&P 500 gained about 3.6% last week, led by Materials and Consumer Discretionary names.
The local market’s expected gains are set to continue on from last week’s end, when it finished the day up 45.50 points or 0.66% – crossing above its 50-day moving average.
The Australian dollar was near US68.45c at the local close.
The spot gold price was $1,735.80, up 1.12%.
Bitcoin (BTC-USD) was down slightly, by around 0.8%, sitting around $US21,648.
Market Watch
Eyes will be on the Australian tech space this week, which has been the focus of a number of takeover overtures, as beaten-down local technology stocks continue to make prime targets for international investor groups.
Nitro Software (ASX:NTO) and Tyro Payments (ASX:TYR) have recently seen their share prices jump, after rejecting takeover bids.
While Nuix (ASX:NXL) saw its share price soar late last week on the back of takeover speculation.
