Australian stocks surged higher again.
Here’s today’s scoreboard:
- S&P ASX 200: 5,142.80 +52.77 +1.04%
- All Ordinaries: 5,204.70 +53.65 +1.04%
- AUD/USD: 0.7407 -0.0031 -0.42%
The local market has gained 5.3% in the six sessions since the start of last week. The loss gap is narrowing but the ASX 200 is still down 2.9% since the start of 2016.
Today mining stocks soared on a rally in commodity prices, including iron ore and oil.
Pure play iron ore producer Forescue jumped 23.7% to $3.08, more than doubling its 12-month low of $1.44 on January 21.
Atlas Iron surged 46.6% to $0.022 and BC Iron 52% to $$0.19.
BHP continued its strong run from last week when it shares added 13.6%. Today the world’s biggest miner added almost 5% to $18.55. Rio Tinto rose 3.5% to $46.47 and South32 6.2% to $1.445.
Oil stocks also surged on 4% rise in oil. Woodside Petroleum was up 2.4% to $27.66 and Santos was up 1.5% at $3.96.
The top stories Monday:
1. Board gender diversity. Here are the last 22 big ASX-listed companies without a female director.
2. Selling juice to China. The Food Revolution Group, which uses CSIRO technology to create healthy fruit and vegetable juices, has done a deal with four retailers and distributors on the mainland. Its shares closed 10.8% higher at$0.255.
3. The influence of rugby. A curious factor goes some way to explaining why Australia’s two listed health insurers, Medibank and NIB, have recently been paying out smaller proportions of their premiums to members making claims.
4. Home prices. Australian capital city house prices are marching higher yet again after pulling back in the latter parts of 2015.
5. The tourist dollar. Chinese visitor spending in Australia is exploding.
6. That’s confidence. Qantas chairman Leigh Clifford just bought another bucket of shares in the airline.
7. Better bowsers. GasBuddy, the app which finds you the cheapest petrol, launches in Australia.
8. Farewell party. We now know who smashed the marble table in Parliament House at Tony Abbott’s farewell party.