ASX Round-Up: ASX Dips Friday, but Still Gains for the Week

- January 3rd, 2014

The Australian Securities Exchange closed at 5,349.7 points today, down 18.2 points from the last session

The Australian Securities Exchange (ASX) closed at 5,349.7 points today, down 18.2 points from the last session. However, despite that drop — likely caused by lackluster Chinese factory activity information released New Year’s Day — Australian shares gained 0.4 percent for the week, according to The Sydney Morning Herald.
The news outlet also notes that fluctuations in the market this week were exaggerated by a low trading volume. The total value of shares traded this past week was approximately $956 million in contrast to an average of around $3.64 billion for each of the first three weeks of December.
Metals and mining stocks led the week’s gains, with one of today’s top gainers being Silver Lake Resources (ASX:SLR). That company, which is involved in gold and copper exploration and production, gained 8.66 percent for a final price of $0.69. Turkey- and Australia-focused Alacer Gold (ASX:AQG) also rose today, increasing 5 percent to a price of $2.52.
Among the mining companies that fell today was Aquila Resources (ASX:AQA), which dropped 6.36 percent to a price of $2.21. The company is engaged in the exploration and development of coal, iron ore and manganese resources.

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