The Australian Securities Exchange (ASX) has gained 36.2 points at the open today (2 July), increasing 0.42% to a total of 8,577.3 points at around 11am (AEST).
The materials sector is coming in second to the utilities sector with an increase of 1.2% on the S&P/ASX200. The index is 0.72% below its 52-week high as of right now, though seeing limited difference over the past five days.
Despite the sector’s growth, mining is not seeing much movement in the top five gains and declines list, with South32 (ASX:S32) being the only company charting.
South32, which has a market capitalisation of $13.37 billion, has seen a 4.54% increase to its share price, now at $3.105 per share.
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: iStock
