The Australian Securities Exchange (ASX) closed little changed on Monday (26 May), but the uranium miners got a shot in the arm after the US took steps to ignite its nuclear industry.
The S&P/ASX200 closed up just 0.1 of a point at 8,361 points by the end of the session.
The index is relatively unchanged over the past five trading sessions and sits 2.95% below from its 52-week high.
Six of the 11 sectors gained ground. Technology was the best performing sector, gaining 1.12% by the closing bell and rallying 3.13% in the past five days.
Materials rose 0.29% and energy inched up 0.1%. Utilities, however, tumbled 2.16%, industrials was down 0.34% and the financial sector edged back 0.15%.
Junior uranium explorer GTI Energy (ASX:GTR), which is advancing its Lo Herma In-Situ Recovery Uranium Project in the US, jumped 25% to $0.005.
Fellow small cap Lotus Resources (ASX:LOT), which is on track to restart its Kayelekera Uranium Mine in Malawi in the third quarter of this year, closed 10.81% higher at $0.21.
Of the S&P/ASX200 miners, Deep Yellow (ASX:DYL) surged 13.65% to $1.42, Paladin Energy (ASX:PDN) climbed 8.84% to $6.28 and Boss Energy (ASX:BOE) rose 7.29% to $4.27.
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: Exelon
