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The Australian Securities Exchange fell 6.6 points today, dropping to 5,404.8 points. However, the exchange rose 215 points, or 4.2 percent, during February as a whole.
The Australian Securities Exchange (ASX) fell 6.6 points today, dropping to 5,404.8 points. However, the exchange rose 215 points, or 4.2 percent, during February as a whole, according to The Sydney Morning Herald.
“The outlook heading into reporting season was optimistic and we haven’t been disappointed,” Dion Hershan, head of Australian equities at Goldman Sachs Asset Management, told the news outlet. “On balance earnings and the outlook have exceeded what were some fairly sombre consensus expectations.” In particular, mining stocks fared well in February.
Performing positively today was Western Areas (ASX:WSA), which gained $0.21, or 6.84 percent, to trade at $3.28. The company is based in Australia and produces nickel near Perth; it is also exploring for potential resources in Finland. Also gaining was gold producer and explorer Medusa Mining (ASX:MML), which rose $0.13, or 6.37 percent, to trade at $2.17.
Silver Lake Resources (ASX:SLR) today lost $0.10, or 14.71 percent, to trade at $0.58. The company produces and explores for gold as well as copper. Gold producer Resolute Mining (ASX:RSG) also fell, losing $0.03, or 4.72 percent, to trade at $0.605.