Local shares continued to rise today, boosted by comments from the US Federal Reserve overnight which suggested near-term risks facing the economy had diminished. Shares in the resources sector, especially gold, were particularly strong.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.3% to 5556 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.4% to 5636 points
- AUD/USD at US 75.24 cents
- Iron Ore at US$58.63 a tonne, according to the Metal Bulletin
- Gold at US$1,338.93 an ounce
- Brent oil at US$43.57 a barrel
Gold prices rallied overnight. Newcrest Mining Limited (ASX: NCM) soared 4.9%, St Barbara Ltd (ASX: SBM) gained 7%, as did Northern Star Resources Ltd (ASX: NST).
BHP Billiton Limited (ASX: BHP) rose 0.6% as well, despite its update regarding 2015's fatal Samarco incident.
Fortescue Metals Group Limited (ASX: FMG) gained another 4.8% as well, while Rio Tinto Limited (ASX: RIO) rose 2.1%.
The banks produced mixed returns for the day, but Wesfarmers Ltd (ASX: WES) managed to rise 0.8%.
Shares of Bellamy's Australia Ltd (ASX: BAL) were on fire as well, lifting 5.2%. Yowie Group Ltd (ASX: YOW) recovered 4.4% as well, but Origin Energy Ltd (ASX: ORG) dropped 2.2%.
Here are Thursday's top stories:
- Why you should take another look at shares of Blackmores Limited
- Up 60% in two days: Is Bradken Limited still a buy?
- Samarco disaster could still sink the BHP Billiton Limited share price
- Gold stocks are going nuts again
- 4 stocks to buy and hold for the next decade
- Here's why Touchcorp Ltd has gone gangbusters in July
