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Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down +0.74% to 7153.90.
The benchmark S&P/ASX200 (INDEXASX: XJO) index managed to finish 14.6 points, or 0.2%, higher at 7206.9, with the broader All Ordinaries (INDEXASX: XAO) index tracking that rise in percentage terms, adding 15.1 points to 7402.9.
The BHP Group Ltd (ASX:BHP) share price is close to its low for 2023, so this could be an opportunity. Is the ASX mining share a buy?
Both uranium equities and the uranium price have been marching higher in recent weeks. Numerco’s uranium spot price indicator closed at US$58.25 last Friday, up 19.8% so far in 2023.
Both benchmarks weakened into the close, as both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) fell 0.2% on Friday.
Both local benchmarks, including the S&P/ASX200 (INDEXASX: XJO) fell 1.2% on Thursday, as pressure continues to build from poor global economic data.
These assets have good pricing power (inflation linked, like other APA assets) and good incremental returns for new mining assets brought online in the area.
The local share market weakened again on Wednesday, with the All Ordinaries (INDEXASX: XAO) down 0.7% and the S&P/ASX 200 (ASX: XJO) falling 0.8% as seven sectors fell by more than 1%.
Pilbara Minerals Ltd (ASX: PLS) and IGO Ltd (ASX: IGO) have reported record profits, leading to mountains of cash sitting on balance sheets, and outsized dividends returned to shareholders.
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down +0.74% to 7153.90.
The benchmark S&P/ASX200 (INDEXASX: XJO) index managed to finish 14.6 points, or 0.2%, higher at 7206.9, with the broader All Ordinaries (INDEXASX: XAO) index tracking that rise in percentage terms, adding 15.1 points to 7402.9.
The BHP Group Ltd (ASX:BHP) share price is close to its low for 2023, so this could be an opportunity. Is the ASX mining share a buy?
Both uranium equities and the uranium price have been marching higher in recent weeks. Numerco’s uranium spot price indicator closed at US$58.25 last Friday, up 19.8% so far in 2023.
Both benchmarks weakened into the close, as both the S&P/ASX200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) fell 0.2% on Friday.
Both local benchmarks, including the S&P/ASX200 (INDEXASX: XJO) fell 1.2% on Thursday, as pressure continues to build from poor global economic data.
These assets have good pricing power (inflation linked, like other APA assets) and good incremental returns for new mining assets brought online in the area.
The local share market weakened again on Wednesday, with the All Ordinaries (INDEXASX: XAO) down 0.7% and the S&P/ASX 200 (ASX: XJO) falling 0.8% as seven sectors fell by more than 1%.
Pilbara Minerals Ltd (ASX: PLS) and IGO Ltd (ASX: IGO) have reported record profits, leading to mountains of cash sitting on balance sheets, and outsized dividends returned to shareholders.
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