The Australian Securities Exchange (ASX) hit a high note today (29 April) after US President Donald Trump walked back tariffs on some auto part imports.
The S&P/ASX200 climbed to over 8,076 points by mid-afternoon (AEST), marking its highest level in the past two months.
By the closing bell it was sitting up 73.5 points, or 0.92%, at 8,070.6 points. Over the last five days the index has gained 3.25%, but is down 1.08% year to date.
Ten of the 11 sectors finished the session in the green, led by energy with a 2.3% rally. Utilities advanced 2.01%, materials climbed 1.37% and industrials lifted 0.99%.
Uranium producer Boss Energy (ASX:BOE) finished in top spot with a gain of 14.29% to close at $3.20.
Mineral Resources (ASX:MIN) came in a close second with a 13.15% surge to $20.57 despite telling investors it is cutting its FY25 production guidance for the Onslow Iron Ore Project and reporting an increase in costs and debt.
The diversified miner now expects to produce 8.5-8.7 million tonnes from the operation in FY2025 – down from the 8.8-9.3 million tonnes expected previously, while debt has risen to $5.4 billion.
The top five of the S&P/ASX 200 was dominated by the uranium miners, with Deep Yellow (ASX:DYL) climbing 11.71% to $1.15 and Paladin Energy (ASX:PDN) rising 8.5% to $6.13.
Northern Star Resources (ASX:NST) remained the worst performing stock for the day, losing 4.74% to close at $19.88 after cutting its FY25 production target and increasing its cost guidance.
The gold miner now expects gold output to come in at between 1.63 and 1.66 million ounces at a cost of $2,100 to $2,200 an ounce. The previous target was for 1.65 to 1.8 million ounces at a cost of $1,850 to $2,100 an ounce.
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
