The Australian equity market has fallen 3.6 percent over the past six sessions, according to The Sydney Morning Herald, due in part to the increasing number of international conflicts.
Most recently, news that US President Barack Obama has authorized air strikes in Iraq has been causing problems. “News that the US ordered air strikes on Iraq just added to the geopolitical risks, coming from Ukraine and Gaza, that have seen volatility return to the market as investors awaken from their complacency,” Quest Asset Partners portfolio manager Michael Evans told the news outlet.
That said, a number of mining companies were able to perform well this past week. For instance, Beadell Resources (ASX:BDR), which mines for gold in Brazil and Australia, gained $0.04, or 6.93 percent, reaching $0.54 per share. Similarly, Regis Resources (ASX:RRL), whose focus is on gold and nickel in Eastern and Western Australia, rose $0.11, or 5.99 percent, hitting $1.95 per share.
In addition, gold-focused Resolute Mining (ASX:RSG) grew by $0.02, or 2.42 percent, to reach $0.64 per share, and Newcrest Mining (ASX:NCM), which also focuses on gold, grew $0.19, or 1.73 percent, reaching 11.18 per share.
Of course, not all companies fared well. Buru Energy (ASX:BRU), an oil and gas company in Western Australia, fell by $0.04, or 5.48 percent, to reach $0.69. Meanwhile, Fortescue Metals Group (ASX:FMG), which mines for iron ore in Western Australia, fell by $0.16, or 3.39 percent, to reach $4.56.
Get the Top Stories on Resource Investing FREE!Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.