The Australian Securities Exchange (ASX) has fallen by six points at the market open as investors assess the coming days before implementation of tariffs and US jobs data slated for Friday (4 July) release 10:30pm (AEST).
The materials sector is higher by 2.07% as at 10:30am this morning with Whitehaven Coal (ASX:WHC) the best performing stock on the S&P/ASX200 by 5% followed by PLS (ASX:PLS), formerly Pilbara Minerals, and New Hope Coal (ASX:NHC).
Coal and energy stocks have been bolstered by investments from Australia’s industry funds, notably Australian Super who have bought stakes in Whitehaven over the last month.
Markets are awaiting Australian trade data expected to be released at 11:30am (AEST) today where the values of iron ore, coal, copper and natural gas sales in May will be revealed.
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 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: Australian Securities Exchange
