The S&P/ASX 200 index ended its five-day losing streak, increasing 0.48% to 8,681.9 points, with gold producers Alchemy Resources (ASX:ALY) and Savannah Goldfields (ASX:SVG) among the top performers.
Alchemy’s share price rose 12.5% to $0.009, while Savannah jumped 10% to $0.011 in the first hour of trading on the Australian Securities Exchange.
Reach Resources (ASX:RR1) increased 10% to $0.011, while Perpetual Resources (ASX:PEC) was up 8.33% to $0.013 per share.
The index had earlier recovered for the first time on 1 May, after an 11-day losing streak. Following a 0.29% decline between 20 and 21 April, it fell a further 0.44%–0.45% between 22 and 23 April. A 0.29% fall on 24 April was followed by a sharper slump of 0.62% on 27 April, taking the index to 8,732.1 points. Losses continued on 28 April (-0.74% to 8,701.1), 29 April (-0.47% to 8,670), and 30 April (-0.4% to 8,652.1).
The benchmark more recently dropped on 8 May (-0.98% to 8,658.6), 11 May (-0.93% to 8,795.7), 12 May (-1% to 8,881.1 points), 13 May (-0.06% to 8,696.3), and 14 May (-0.1% to 8,621.6).
“The index has lost 0.71% for the last five days but is virtually unchanged year to date,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” in 2025 despite “concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts agree that the Iran-Israel conflict has created significant investor uncertainty across the ASX index.
“We are obviously still underperforming our other global counterparts, despite what has otherwise been a pretty good week,” Capital.com senior market analyst Kyle Rodda tells the Australian Associated Press.
Write to Richard Szabo at Mining.com.au
Images: Australian Securities Exchange via Facebook
