Following BHP’s (ASX:BHP) news of 750 job cuts in response to Queensland’s high coal royalties yesterday, Anglo American (ASX:AQM) is following suit with over 200 redundancies at its Brisbane office and Bowen Basin operations.
The Australian Securities Exchange (ASX) dropped 71.90 points to 8,746.69 points by 10.25am AEST today (18 September).
Sectors are experiencing a mixed session on the platform today as just four shift higher, including the materials sector which rose by 0.63%.
Across the globe, Asian markets are expected to open lower this morning in line with the ASX.
The Dow Jones gained 0.6% in its last session, increasing by 260 points to close at 46,018 points.
European markets saw a strong session with both London’s FTSE and Germany’s DAX rising.
Gold is trading at US$3,662 ($5,508) per ounce, while copper is trading at US$4.55 per pound.
WTI Crude oil is selling higher at US$63.93 per barrel while Brent oil is up again at US$67.88 per barrel.
Iron ore is valued slightly lower from yesterday’s market open, currently at US$105.30 per tonne.
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 Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
