ASX Round-Up: ASX Finishes Week Higher Despite Political Unrest

Lynas Corporation, Buru Energy and Alumina were three of the top gainers on the ASX this past week.

The Australian Securities Exchange (ASX) closed at 5,492.8 points today, up 12.9 points from the previous session.

The Sydney Morning Herald notes that despite violence in Ukraine and a military coup in Thailand, markets have risen slightly due to factory data that indicates growth in the world economy. “Growth prospects for Australian corporate earnings are improving and are supportive of current market valuations,” Alphinity Investment Management portfolio manager Johan Carlberg told the news outlet.

A few mining companies were big gainers on the market this week. Australian company Lynas Corporation (ASX:LYC), which mines rare earths, rose by $0.01, or 8.33 percent, to close at $0.13. Meanwhile, gas and oil exploration company Buru Energy (ASX: BRU) closed higher by $0.04, or 3.4 percent, reaching $1.22, while Australian mining company Alumina (ASX:AWC) closed up $0.06, or 4.21 percent, to end at $1.49.

On the flip side, iron-focused Atlas Iron (ASX:AGO) was one of the biggest losers on the ASX, falling by $0.04, or 4.64 percent, to close at $0.72. Gold-mining company Regis Resources (ASX:RRL) fell even more, by 25 percent, or $0.57, to reach $1.71. Finally, OZ Minerals (ASX:OZL) fell by 3.19 percent, or $0.13, to $3.95.