The Australian Securities Exchange (ASX) closed at 5,464 points today, up 27.1 points from the previous session. The Australian share market did well after the European Central Bank’s (ECB) announcement that it will continue its monetary easing policies, The Sydney Morning Herald reported. Now, many are waiting to see if the bank will begin a full-scale quantitative easing policy.
The mining industry also fared well today. Australian gold mining company Evolution Mining (ASX:EVN) was the market’s top gainer, rising by $0.06, or 7.43 percent, to $0.80. Meanwhile, Australia- and Brazil-focued Beadell Resources (ASX:BDR) rose by $0.03, or 4.92 percent, to close at $0.64. Resolute Mining (ASX:RSG), which engages in mining, prospecting and exploring for minerals in Africa and Australia, rose by $0.03, or 4.35 percent, to close at $0.60.
Not faring so well was Lynas Corporation (ASX:LYC). The well-known rare earths company fell $0.01, or 6.45 percent, to close at $0.15. Atlas Iron (ASX:AGO) lost $0.20, or 2.92 percent, hitting $0.67, while Fortescue Metals (ASX:FMG), which is also focused on iron, fell by $0.13, or 2.8 percent, to finish the week at $4.52.