Australia’s S&P/ASX 200 (INDEXASX: XJO) (ASX: XJO) index closed firmly higher on Monday, led higher by gains in miners like Newcrest Mining Limited (ASX: NCM) and Rio Tinto Limited (ASX: RIO).
Higher commodity prices helped shares of mining companies offset some weakness in the industrials and telecommunications sectors.
Biggest Movers
- Yancoal Australia Ltd (ASX: YAL) – up 10%
- Qantas Airways Limited (ASX: QAN) – up 3%
- Newcrest – up 2.9%
- South32 Ltd (ASX: S32) – up 2.6%
- Rio Tinto – up 1.5%
Biggest Losers
- Auckland International Airport (ASX: AIA) – down 2%
- Origin Energy Ltd (ASX: ORG) – down 1.8%
- TPG Telecom Ltd (ASX: TPM) – down 1.5%
- Nextdc Ltd (ASX: NXT) – down 4%
- Pushpay Holdings Ltd (ASX: PPH) – down 3.4%
The Big Banks had a soft day of trading, with the financial sector trading mostly flat for the day. The two big miners on the ASX, BHP Billiton Limited (ASX: BHP) and Rio, picked up some of the slack, rising 1.5% and 1.2%, respectively.
Gold miners also helped the ASX 200 move higher today. Shares of Newcrest, Evolution and Northern Star Resources gained considerable ground as the gold price spiked to a four-month high over the weekend. Read more here.
Further down the market, Vocus Group, the owner of Dodo, iPrimus, Commander and other telecommunications brands, released an organisational update to investors. Vocus has a number of assets up for sale as part of its ‘transformation program’ and plans to simplify its reporting lines.
Keep Reading:
- 3 Savings and Investing Rules To Live By In 2018
- Will Mortgage Interest Rates Rise in 2018?
- 4 Things Buffett Wants to See in An Investment
Tweet of the day
How I picture the crypto party ending: pic.twitter.com/bxBBV9qMk3
— Joe Magyer (@Magyer) January 14, 2018
