ASX Round-Up: Index Reaches 5,531 Points After Week of Gains

Today, the Australian Securities Exchange (ASX) rose 13.2 points, or 0.2 percent, hitting 5,531 points, according to The Sydney Morning Herald. On an even more positive note, the index ended the week up 1.4 percent at a six-year high. That positive performance was spurred by bank stocks and the initial public offering of auto parts manufacturer Burson Group (ASX:BAP).

One of today’s top gainers on the ASX was Resolute Mining (ASX:RSG), which rose 4.03 percent, or $0.025, to trade at $0.645. The company mines, prospects and explores for gold and other minerals. It has three operating gold mines in Africa and Australia. Beadell Resources (ASX:BDR) also performed well today, gaining 3.1 percent, or $0.020, to trade at $0.665. Beadell constructs, mines and processes gold in Brazil; the company also explores for mineral resources in Australia and Brazil.

On the flip side, Mount Gibson Iron (ASX:MGX), which mines and ships hematite iron ore in Western Australia, did not perform well today, losing 3.75 percent, or $0.030, to trade at $0.77.

Related reading: 

Types of Iron: Hematite vs. Magnetite