The local share market surged higher in the first session back since Christmas as the benchmark index threatened to climb beyond 5,700 points. While a positive lead set by international markets helped set the mood, the miners provided most of the drive.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 5685 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5732 points
- AUD/USD at US 72.03 cents
- Iron Ore at US$79.42 a tonne, according to the Metal Bulletin
- Gold at US$1,141.13 an ounce
- Brent oil at US$55.95 a barrel
Woolworths Limited (ASX: WOW) shares rose 1.9% after it announced the proposed sale of its fuel business to BP for almost $1.8 billion.
Shares of Caltex Australia Limited (ASX: CTX), on the other hand, slipped 2%. It seems investors were hopeful Caltex would be the company that acquired Woolworths' fuel business.
The miners were busy. BHP Billiton Limited (ASX: BHP) surged 3.3%, while South32 Ltd (ASX: S32) and Fortescue Metals Group Limited (ASX: FMG) closed 2.9% and 3.5% higher.
Gold miners EVOLUTION FPO (ASX: EVN), Newcrest Mining Limited (ASX: NCM) and Beadell Resources Ltd (ASX: BDR) all soared between 3% and 5%. Silver Lake Resources Limited. (ASX: SLR) rose 8%.
Tech business Audio Pixels Holdings Ltd (ASX: AKP) shares plummeted 31.8% following a business update.
Other shares that fell today include Bega Cheese Ltd (ASX: BGA), down 2.4%, as well as OFX Group Ltd (ASX: OFX), down 0.9%.
Here are Wednesday's top stories:
- Woolworths Limited sells fuel business: Here's what will happen to its Fuel Offer
- CRASH! Why the Audio Pixels Holdings Ltd share price fell 34% today
- 8 small-cap shares tipped to shine in 2017
- 6 growth shares set for a massive 2017
- Here are the 10 most shorted shares on the ASX: Do you own them?
- Why these 6 ASX shares have gone gangbusters today
