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ASX Round-Up: ASX Hampered by Iron, Coal Miners' Poor Performance
Jan. 10, 2014 11:40AM PST
Resource InvestingToday, the Australian Securities Exchange sank 12 points, to 5,312.4 points. The market was significantly impacted by the fact that iron and coal miners, which are Australia’s largest exporters, lost ground five days in a row
Today, the Australian Securities Exchange (ASX) sank 12 points, to 5,312.4 points. The market was significantly impacted by the fact that iron and coal miners, which are Australia’s largest exporters, lost ground five days in a row, as per The Sydney Morning Herald.
The top loser today was Mount Gibson Iron (ASX:MGX), which lost $0.065, or 6.67 percent, to close at $0.91. The company mines and ships hematite iron ore in Western Australia. Atlas Iron (ASX:AGO), an exploration, development and mining company focused on iron in Western Australia, also dropped by $0.065, or 6.28 percent, trading at $0.970 at close. Similarly, Evolution Mining (ASX:EVN), a gold company and Friday’s third worst-performing stock, dropped $0.03, or 4.84 percent, coming to rest at a final price of $0.59.
The second-highest gainer on the market for Friday was Horizon Oil (ASX:HZN), an oil company operating in New Zealand and China. It rose $0.02, or 6.78 percent, to close at $0.315.