The ASX only just remained in the green by the closing bell, largely thanks to the strength of the materials sector.
The S&P/ASX 200 closed up just 4.7 points at 8,540 points. The index is virtually unchanged over the past five days and is just 0.41% away from its 52-week high.
More sectors were lower than higher. Though a daily gain of 1.52% and a five-day march up of 0.83% by the materials sector helped keep the bourse in positive territory. Energy slipped 0.78%.
Lithium miner Liontown Resources (ASX:LTR) held onto its early gains to close up 9.24% at $0.65. Interestingly, the advance coincided with a presentation by Managing Director Tony Ottaviano to the Bell Potter Unearthed Conference.
Mineral Resources (ASX:MIN) rose 6.97% to $34.07, IGO (ASX:IGO) climbed 5.65% to $4.86, Pilbara Minerals (ASX:PLS) rallied 4.69% to $2.23, Coronado Global Resources (ASX:CRN) advanced 4.1% to $0.64 and South32 (ASX:S32) gained 4.08% to end the session at $3.57.
South32 gained ground on the back of its 2025 half year financial results, which showed a 577% surge in profit after tax to US$359 million ($570.2 million).
CEO Graham Kerr announced a fully-franked interim dividend of US$0.034 per share, equating to a total shareholder payout of US$154 million, and the continuation of the company’s capital management program, with US$171 million remaining to be returned to shareholders.
Mining services firm Downer EDI (ASX:DOW), however, fell 3.6% to end the session at $5.35.
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 & iStock
