ASX Round-Up: Drillsearch Energy Shares Rise

The Australian Securities Exchange (ASX) closed at 5,458.9 points today, a decrease of 31.3 points from the previous session. However, there was a modest gain in the market this week despite several mining companies facing decreasing share prices, according to The Sydney Morning Herald. Overall, the ASX has increased about 0.3 percent over the course of the past five days. The Australian budget was released Tuesday night, and investors were happy to note that the government did not release plans for any potential spending cuts for at least another year.

In terms of mining today on the ASX, oil and gas exploration and drilling company Drillsearch Energy (ASX:DLS) rose by $0.05, or 3.75 percent, to close at $1.52, while Evolution Mining (ASX:EVN), a miner of gold and other precious metals, rose by $0.03, or 3.57 percent, to reach $0.87. Australian mineral exploration company Sirius Resources (ASX:SIR) saw gains of $0.09, or 3.16 percent, hitting $2.94.

Among the biggest losers were Mount Gibson Iron (ASX:MGX), a company that mines hematite iron ore; its shares fell by $0.05, or 5.7 percent, to reach $0.74. Nickel, copper and zinc company Independence Group (ASX:IGO) lost $0.22, or 5.03 percent, sinking to $4.15. Similarly, Western Areas (ASX:WSA) dropped $0.22, or 5.03 percent, to reach $4.15.