ASX Round-Up: ASX Finishes Financial Year on a Down Week

The Australian Securities Exchange (ASX) dropped slightly on Friday, the last day of the financial year.

The ASX ended the week at 4,802.6 points, an 8.7-point drop from the previous close, The Sydney Morning Herald reported. Though the Australian market share gained 17 percent this financial year, the final week was unstable as global markets reacted to news that the US Federal Reserve may end its stimulus measures.

Atlas Iron (ASX:AGO) came out on top with the biggest gain of the week. The iron ore mining company closed out the week at $0.745, up $0.035 from the previous close. Overall, Atlas had a trade volume of 12.3 million. Rare earths-focused Lynas Corporation (ASX:LYC) also finished the week up $0.015, at $0.375, with a trade volume of 19 million.

Mining and mineral exploration company PanAust (ASX:PNA) saw the biggest drop this week, falling $0.115 from its previous close to finish out the week at $1.824. The company had a trade volume of 3.2 million. Regis Resources (ASX:RRL), a gold production and exploration company, also finished the week down, falling $0.170 to land at $2.890 after a trade volume of 2.5 million.