The Australian Securities Exchange (ASX) closed at 5,531.7 points today, up 9.3 points from the previous session. Overall, the sharemarket moved higher this past week, according to The Sydney Morning Herald, with mining performing the best over other ASX sectors.
“The theme from this round of quarterly round of production reports is that big companies are hitting their targets, but the report from Fortescue Metals Group on Wednesday was a highlight,” John Robertson, portfolio manager at EIM Capital Managers, told the news outlet.
The top gainer this week was Mineral Resources (ASX:MIN), a company that supplies goods and equipment to the mining sector. It rose by $0.55, or 5.21 percent, to reach $11.10. Sirius Resources (ASX:SIR), which mines for gold and base metals in Western Australia, also performed well, rising by $0.17, or 4.43 percent, to reach $4.01. Meanwhile, rare earths-focused Lynas (ASX:LYC) rose by $0.01, or 3.57 percent, to reach $0.145.
On the flip side, Arrium (ASX:ARI), an international mining company that works with iron ore and other raw materials associated with steelmaking, fell by $0.04, or 4.29 percent, to reach $0.78. Similarly, Mount Gibson Iron (ASX:MGX), a company that mines and ships hematite iron ore in the Kimberley region of Western Australia, fell by $0.025, or 3.5 percent, to reach $0.69. Finally, Regis Resources (ASX:RRL), a Western Australian gold company, fell by $0.07, or 3.49 percent, to reach $1.80.