The Australian Securities Exchange (ASX) is heading into the weekend on a positive note, having sustained its upward momentum for the past seven trading sessions.
The S&P/ASX200 rallied a further 92.4 points, or 1.13%, to 8,238 points by the closing bell on Friday (2 May). This pushed the index 3.39% higher over the past five days.
All sectors bar industrials ended the week in the green.
This was helped along by relative calm on the trade war front over the past week, with progress reportedly being made between the US and many of its trading partners – with the exception of China – on trade deals.
The Trump administration expects “news within days”.
The energy sector topped the charts with a one-day gain of 1.94% and a 4.14% advance over the past five trading sessions. Utilities rose 1.35%, the financial sector climbed 1.3% and materials was up 0.81%.
Nickel Industries (ASX:NIC) and Boss Energy (ASX:BOE) finished in the top movers, climbing 6.36% to $0.59 and 5.29% to $3.58, respectively.
Dateline Resources (ASX:DTR) surged 200% to $0.027 on news US President Donald Trump had spotlighted the small cap explorer’s Colosseum rare earths project in his Truth Social weekly update and that the company is preparing for an OTCQB listing to tap into the rising US investor interest.
Codrus Minerals (ASX:CDR) rose 50% to $0.03 after revealing it received a permit to undertake 14,000m of drilling at its Bull Run Gold Project in Oregon, US. Silver and base metals junior Boab Metals (ASX:BML) was also a top mover, ending the session up 41.7% at $0.17.
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
