ASX Round-Up: Boosted by Yellen, ASX Closes at 5,401.7 Points

Today, the Australian Securities Exchange (ASX) closed at 5,401.7 points, up 46.3 points, or 0.9 percent, from the previous session. The market hit a high of 5,406.1 points and a low of 5,340.6 points before its close, The Sydney Morning Herald reported.

Helping boost the ASX today were rallies from the four big banks, as per the news outlet. News from Janet Yellen, who is expected to become the new chair of the US Federal Reserve, also helped push the market up. She said the Fed “has more work to do” to help the US economy, sparking speculation that stimulus will not be tapered by the end of the year.

OZ Minerals (ASX:OZL) was the top gainer among mining and energy companies on the ASX today. The Australia-based copper, gold and silver mining company rose $0.13, or 4.02 percent, hitting $3.36.

Caltex Australia (ASX:CTX), a company engaged in purchasing, refining and distributing petroleum products in Australia, also rose on the ASX today, gaining $0.50, or 2.71 percent, to reach $18.95. Aurora Oil & Gas (ASX:AUT), an oil and gas explorer, also rose, increasing $0.08, or 2.7 percent, to $3.04.

ALS (ASX:ALQ), a technical testing and inspection services company focused on mining exploration activities, gained on the ASX today as well. The company reached $9.76 after rising more than 2.5 percent, or $0.24.