It’s the first day back at work for many after the Christmas break and the first full trading week of the year.
The S&P/ASX 200 started the day up about 0.5% before slipping back 0.31% around lunch, closing the day out up 0.26% at 5,450.3.
Here’s the scoreboard:
- S&P ASX 200: 5,450.30 +14.37 (+0.26%)
- All Ordinaries: 5,429.50 +14.47 (+0.27%)
- AUD/USD: 0.8047 -0.0044 (-0.54%)
At the close iron ore miner Atlas Iron was up 10.87%. Iron ore has increased slightly to over the $70 a tonne mark on the spot market, up from $66 a tonne before Christmas. Combine this with the weakening Aussie dollar, which fell to one of its lowest levels in years overnight and the royalty holiday granted by the WA government before Christmas and the iron ore miners are finally getting a little reprieve.
BHP Billiton closed down 0.203% to $29.48 a piece, while Rio Tinto was up 0.257% to $58.48 a share.
The major banks were a bit of a mixed bag. Commbank and NAB closed higher 0.24% and 0.149% respectively. While Westpac was down 0.033% to $33.16 and ANZ was 0.186% lower at $32.17.
And the top business stories on Monday:
- The Australian dollar is getting smoked.
- Australian superannuation funds made a return by investing in foreign stocks.
- Australian PMI fell 3.2 points to 46.9 for December.
Here’s the chart.