ASX Round-Up: ECB Quantitative Easing Helps Market Gain for the Week

The S&P/ASX 200 (INDEXASX:XJO) gained 1.5 percent on Friday, and 3.8 percent for the week, closing at 5,501.8 points, as shares rose in part due to the European Central Bank (ECB) announcing late Thursday that it will buy $1.6 trillion worth of assets. This quantitative easing will benefit prominent miners and banks, The Sydney Morning Herald reported.

“Across the market it was strange to see all major sectors in the black at the same time,” Quay Equities’ head of trading, Kristen K’Nell, said in a note, as per the Herald. “The sentiment from the ECB helping to offset the continued downward trend of crude oil, copper and iron ore.”

One of the top gainers on the ASX was Carajas Copper Company (ASX:CJC), an exploration company operating in Mongolia. The company gained 100 percent to trade at $0.002. Also gaining 100 percent was explorer Gleneagle Gold (ASX:GLN), which ended the day at $0.002 as well.

On the other hand, precious and base metals explorer De Grey Mining (ASX:DEG) lost 50 percent to trade at $0.001 on Friday. Uranium explorer Top End Minerals (ASX:TND) also lost, dropping 44.44 percent to trade at $0.005.