The Australian Securities Exchange (ASX) has seen a new 50-day high this morning, after jumping 14.20 points, or 0.17%, to 8,556 points, with the mining and resources sector leading the way.
The index has gained 1.64% over the past five days, which is just 0.79% off the 52-week high.
Nine sectors have advanced in line with the S&P/ASX 200 index, materials in the top five to increase by 0.43%.
Gold is once again on the rise, seeing a 0.14% increase to US$3,377 ($5,194.39) an ounce around 11:30am (AEST) today.
Lynas Rare Earths (ASX:LYC) is leading the charge, rising 7.05% to $8.81, followed by Mineral Resources (ASX:MIN) with a 5.69% increase to $21.35.
Pilbara Minerals (ASX:PLS) has seen a 4.16% increase to $1.25, shortly after its announcement of CFO Luke Bortoli’s resignation.
On the tail of a change in substantial holding, Liontown Resources (ASX:LTR) has jumped 4.09% to $0.635.
On the downside, West African Resources (ASX:WAF) has dropped 2.95% to $2.63 following its decision to increase the Government of Burkina Faso’s equity interest in its three operating projects by 5% to 15%.
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: Stock
