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ASX Round-Up: Oil and Gas Companies Rise Despite Bad Market Fall
Oct. 10, 2014 11:25AM PST
Resource Investing News Liquefied Natural Gas and Senex Energy gained today even after the S&P/ASX 200 ended the week with its biggest drop in over a year.
The S&P/ASX 200 index (INDEXASX:XJO) this week lost 108.4 points, or 2.05 percent, to close at 5,188.3 points, according to The Sydney Morning Herald. It ended the week with its biggest drop in over a year.
That sharp fall followed a “horror night on Wall Street” that saw the S&P 500 index (INDEXSP:.INX) suffer its largest drop in six months, the news outlet states. The S&P 500 declined on the heels of European Central Bank President Mario Draghi’s comments that the recovery is slowing down.
However, even in the midst of those pervasive losses, some companies did gain Friday. For instance, Liquefied Natural Gas (ASX:LNG), a development and processing company, rose 6.09 percent, or $0.17, to trade at $2.96. Oil and gas exploration and production company Senex Energy (ASX:SXY) also rose, gaining 0.91 percent, or $0.005, to trade at $0.555.
On the other side of the market, Resolute Mining (ASX:RSG) lost 8.05 percent on Friday. The gold producer dropped $0.035 to close at $0.40. Similarly, Beach Energy (ASX:BPT), an oil and gas explorer, developer and producer, lost 7.53 percent, or $0.105, to trade at $1.29.