The Australian Securities Exchange (ASX) has shifted up only marginally today (27 May), little moved by US President Donald Trump’s decision to extend the deadline for his proposed 50% tariffs on Europe.
The S&P/ASX200 edged up just 9.1 points, or 0.11%, to 8,370.1 points by 11.10am (AEST).
Over the past five trading sessions, the index has gained 0.32% and is 2.84% below its 52-week high.
It was pretty quiet on the US and UK front with both enjoying public holidays, however Trump did give Europe until 9 July before he plans to introduce the higher tariffs to give them additional time to reach a better deal.
Sectors were mixed in early trade, with five of the 11 sectors gaining ground. Energy rose 0.73%, materials was up 0.21% and industrials added 0.17%.
Meanwhile, utilities dropped 0.92% and the financial sector edged back 0.09%.
Capstone Copper (ASX:CSC) topped the early movers with a 5.96% jump to $8.36, followed by fellow copper producer Sandfire Resources (ASX:SFR), which advanced 4.9% to $11.56.
At the small cap end, Antilles Gold (ASX:AAU) rallied 66.67% to $0.005 after announcing it has inked two offtake agreements with a “major global commodities trading house” for copper-gold concentrates from its 50% owned Nueva Sabana mine.
Dateline Resources (ASX:DTR) jumped 32.73% to $0.073 on news it had uncovered potential extensions of the gold breccia pipes at its Colosseum Project in California.
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: iStock
