Mineral exploration and processing company Bellevue Gold (ASX:BGL) is a top-performing stock on the S&P/ASX 200 index today, which increased by 2.49% to 8,946.2 points.
Bellevue’s share price soared by 16.9% to $1.83 in the first few hours of the Australian Securities Exchange opening for trade. Newmont (ASX:NEM) increased by 5.7% to $173.36 per unit during the same period.
Mining multinational BHP Group (ASX:BHP) rose by 5% to $55.57 per share, while direct competitor Rio Tinto (ASX:RIO) jumped 4.8% to $174.47 per share.
This is the third day of increasing index points. On 1 April the index rose by 1.71% to 8,418.70 points and on 2 April the index increased by 1.78% to 8,732 points.
“Over the last five days the index has gained 3.16% and is currently 2.79% off of its 52-week high,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts predict the share market and commodity prices will rapidly return to pre-war levels if US-Israel-Iran tensions progressively de-escalate.
“While [US President Donald] Trump’s desire to wind down the campaign quickly is understandable, the decision to defer the reopening of the Strait of Hormuz leaves a critical chokepoint firmly in Tehran’s hands for the foreseeable future,” IG market analyst Tony Sycamore tells the Australian Associated Press.
“Unfortunately, this also pushes back any concrete resolution regarding the Strait’s reopening, effectively extending the uncertainty weighing on markets and the broader global economy,” he adds, according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
