The Australian Securities Exchange (ASX) had a better day on Tuesday (8 April), rebounding over 2% by the closing bell.
The S&P/ASX 200 added back 166.7 points, or 2.27%, to end the session at 7,510 points after setting a new 52-week low.
The index has tumbled 5.24% over the past five days and is down 3.58% over the past year.
All 11 sectors ended in the green today. The energy sector climbed 3.53%, materials advanced 2.09%, industrials rose 1.77% and utilities closed up 0.44%.
Uranium producer Boss Energy (ASX:BOE) notched a 10.95% gain to close at $2.33 after announcing enCore Energy (TSX-V:EU), the 70% owner and operator of the Alta Mesa Uranium Project in Texas which Boss owns a 30% stake in, is ramping up to an annualised production rate of 1.5 million pounds.
Boss Energy says increased uranium extraction enables enCore to bring forward its August 2025 contract delivery requirements to May.
Whitehaven Coal (ASX:WHC) also extended its early gains to end 8.74% higher at $4.73. Lithium producer Liontown Resources (ASX:LTR) rose 8.05% to $0.47 and gold producer Regis Resources (ASX:RRL) advanced 6.84% to $4.22.
Regis annnounced yesterday (7 April) its preliminary production numbers, which place the company on track to reach its targeted 350,000 to 380,000 ounces for the 2025 financial year.
Total gold production for the March quarter came in at 89,700 ounces. The miner also paid off its $300 million debt facility early in the quarter and reported a cash and bullion build, excluding the debt repayment, of $138 million.
Meanwhile, Mineral Resources (ASX:MIN) continued its descent, falling a further 2.03% to $16.38.
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
