The S&P/ASX200 has set another 50-day high, rallying 43.5 points, or 0.52%, to 8,386.8 points.
Over the past week, the index has advanced 1.29% and is 2.65% away from its 52-week high.
Nine of the 11 sectors ended higher, with energy the top performing sector, gaining 1.02% today and rebounding from its recent decline. The sector, however, is still off 2.23% for the past five days.
Utilities climbed 0.82%, the financial sector lifted 0.73% and materials climbed 0.56%.
The gold players continued to dominate the bourse today (21 May) as the price of the safehaven metal climbed back above US$3,300 ($5,116) an ounce as concerns around trade talks and a weaker US dollar provide support.
Perseus Mining (ASX:PRU), which is currently undertaking a $100 million share buyback, rallied 9.73% to $3.72. Emerald Resources (ASX:EMR) also retained its spot in the top five by the closing bell with an advance of 8.57% to $4.56. Evolution Mining (ASX:EVN) added 6.91% to close at $8.67 and West African Resources (ASX:WAF) jumped 6.87% to $2.49.
Among the small caps, Bougainville Copper (ASX:BOC) continued its run higher on no news, rising a further 31.58% to $0.50. Ausmon Resources (ASX:AOA) doubled its share price to $0.002, also with nothing to announce to the market.
It did, however, yesterday (20 May) announce the completion of rare earths drilling in South Australia.
Oceana Lithium (ASX:OCN) rose 63.64% to $0.054 following news of a $667,000 placement supported by new and existing institutional and sophisticated shareholders.
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: Wikimedia Commons
