Business & Investment

Australian stocks got off to a solid start year after year as miners shined

Australian stocks closed the first trading day of the new year steadily as mining stocks rose with strong iron ore and ore. Bullion price, While significantly depressed COVID-19 case study It also helped emotions in the country’s largest state.

The benchmark S & P / ASX 200 index rose 1.5% to 6,684.20 points at the end of the transaction, the highest day since November 24th.

Gold inventories drove the rise across subsectors, rising by more than 5%, as bullion prices reached eight-week highs in the face of a global COVID-19 surge and more severe coronavirus outlook did.

Heavyweight Evolution Mining, New Crest Mining, and Northern Star Resources increased by 3% to 4%.

Miners recorded a 2.7% rise as iron ore prices surged more than 3% towards the New Year, supported by tight supply and strong demand.

Fortescue Metals Group increased 4.8% to a record high. Rio tinto I also added 1.3%.

Investor sentiment was also boosted AustraliaMost populous state New South Wales On Monday, it was reported that there were no cases of local coronavirus for the first time in almost three weeks.

However, after US-based SS & C Technology Holdings shelved an A $ 3.02 billion ($ 2.32 billion) takeover offer, business support service provider Link Administration’s stake plummeted by about 14%.

new Zealand The market was closed due to a holiday.



Australian stocks got off to a solid start year after year as miners shined

https://economictimes.indiatimes.com/markets/stocks/news/australia-shares-post-solid-start-to-year-as-miners-shine/articleshow/80094339.cms Australian stocks got off to a solid start year after year as miners shined

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