ASX Round-Up: ASX Closes Week on Positive Note at 5,042 Points

The Australian Securities Exchange (ASX) rose 6.4 points July 26, reaching 5,042 points. The market hit a high of 5,062.6 points and a low of 5,026.5 points today.

The Sydney Morning Herald reported that the market closed the week with gains thanks to a rally by banking shares that led to the shedding of weaker resource stocks.

”It’s been pretty thin and lacklustre trading before the weekend, but the banks have been pretty much responsible for the major moves in the market,” Henry Jennings, a BBY private client adviser, told the Sydney Morning Herald.

Major movers on the ASX today include mining and mineral exploration company PanAust (ASX:PNA), which gained $0.11 to reach $2.11, an increase of 5.5 percent. Another company that saw gains today was ALS (ASX:ALQ). The company, formerly known as Campbell Brothers, is engaged in testing and inspection services for the mining and mineral exploration industry; it rose $0.18, to $8.876, today.

OZ Minerals (ASX:OZL), a copper, silver and gold mining company, experienced losses today. Falling $0.17, OZ hit $4.134. Zircon and titanium dioxide producer Iluka Resources (ASX:ILU) also fell, dropping $0.32 to $11.068.