The Conversation (0)
The Australian Securities Exchange gained 47.6 points today to close at 5,335.9 points. The market reached a high of 5,352.6 points and hit a low of 5,288.3 points today.
The Australian Securities Exchange (ASX) gained 47.6 points today to close at 5,335.9 points. The market reached a high of 5,352.6 points and hit a low of 5,288.3 points today.
The ASX got a boost from the United States, where positive employment data helped push the Dow Jones Industrial Average above 16,000 points for the first time, The Sydney Morning Herald reported. However, the ASX is down 1.2 percent for the week as of today.
“The biggest concern for Australian equities is that domestic company earnings growth is lagging other markets,” Simon Marais, a portfolio manager at Allan Gray Australia, told the publication. “A lower dollar would probably help.”
Monadelphous Group (ASX:MND), a services company in the resources, energy and infrastructure industry, was a top gainer on the ASX today, rising $0.58, or 3.49 percent, to $17.20. Australia-based oil and gas exploration company Aurora Oil & Gas (ASX:AUT,TSX:AEF) also increased today, reaching $3.04, a rise of $0.10, or 3.4 percent, from the previous session.
The only energy industry or mining company that saw major losses on the ASX today was Newcrest Mining (ASX:NCM,TSX:NM). The gold, silver and copper producer lost $0.20, or 2.3 percent, sinking to $8.50.