The ASX opened in the green on Tuesday (14 January) reclaiming some of the ground it lost.
The S&P/ASX 200 rose 37.80 points, or 0.46%, to 8,229.70 points as of 10.30am AEDT. The index has lost 0.67% over the past five days, but is up 9.75% over the past year.
Seven of the 11 sectors advanced, led by materials with a 0.45% shift up. Utilities climbed 0.11% and energy edged up 0.09%.
Among the large cap miners, Champion Iron (ASX:CIA) was an early top mover, rising 4.61% to $5.90.
Meanwhile, the gold producers retreated after the price of the precious metal edged lower and rising yields and a stronger US dollar weighed on investor appetites.
West African Resources (ASX:WAF) slipped 4.36% to $1.54, Ramelius Resources (ASX:RMS) dropped 4.13% to $2.09 and Emerald Resources (ASX:EMR) retreated 2.08% to $3.30.
The top movers among the small caps included First Graphene (ASX:FGR) with a 22.6% gain to $0.07, Black Dragon Gold (ASX:BDG), which advanced 17% to $0.06, and Latrobe Magnesium (ASX:LMG), which lifted 16.7% to $0.01.
First Graphene entered a trading halt today pending the release of an announcement.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: ASX & Stock
