The materials sector has jumped 4.03% this morning (20 October) as of 10.20am AEDT on the Australian Securities Exchange (ASX) although the bourse has dropped 8.4 points this morning.
The index has gained 0.32% over the past five days, just 1.35% off the 52-week high.
Although the materials sector is leading the charge, mining companies such as Bellevue Gold (ASX:BGL) and Catalyst Metals (ASX:CYL) have fallen by 6.89% and 6.69% respectively.
The gold price is still pushing higher, currently sitting at US$4,254 ($6,542) per ounce, according to ABC Bullion.
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 Maddison Elliott at Mining.com.au
Images: Wikimedia Commons
