ASX Round-Up: Market Spurred by BHP Billiton’s Prospective Spin Off

Today, the Australian Securities Exchange (ASX) rose 18 points, or 0.32 percent, closing at 5,566.5 points. That’s a two-week high, according to The Sydney Morning Herald. Pushing the market up was BHP Billiton’s (ASX:BHP,NYSE:BHP,LSE:BLT) announcement that it wants to spin off its aluminum, nickel and manganese assets, potentially creating a separate business worth $14 billion.

Unsurprisingly, BHP was one of today’s top gainers, jumping 2.33 percent, or $0.89, to trade at $39.05. Also performing well was Mount Gibson Iron (ASX:MGX), which gained 6.99 percent, or $0.05, to trade at $0.765. It’s an independent producer of iron ore products and operates three mines.

On the other side of the market, Evolution Mining (ASX:EVN) lost 2.6 percent, or $0.02, to trade at $0.75. The company owns and operates five gold and silver mines in Australia. Uranium-focused Paladin Energy (ASX:PDN) also fell, dropping 2.5 percent, or $0.01, to trade at $0.39.

Get the Latest Resource Investing Stock Information

Get the latest information about companies associated with Resource Investing delivered directly to your inbox.

Agriculture
Cannabis
Cobalt
Copper
Copper - Mine Development
Copper - Prospecting and Exploration
Copper - Resource Definition/Pre Feasibility
Copper- Production/Mining
Critical Metals
Diamond
Gem
Gold
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA
Graphite Production/Mining
Graphite Prospecting and Exploration
Graphite Resource Definition/Pre Feasibility
Graphite Resource Expansion/Feasibility Study/PEA
Industrial
Lead
Lithium
Magnesium
Molybdenum
Nickel
Palladium
Phosphate
Platinum
Potash
Precious
Rare Earth
Silver $0-15m
Silver $15-50m
Silver $250m+
Silver $50-250m
Tungsten
Uranium
Zinc

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply