The mining sector is driving the Australian Securities Exchange (ASX) lower today (6 March), with materials companies falling by 4.1% as of 12noon AEST.
ASX-listed materials companies as a whole have dropped 9.19% this week, while energy companies are experiencing a 7.03% increase.
The bourse has dropped 113.50 points today to host 8,826.80 points, losing 4.04% over the last five trading days.
The ASX is 4.09% below its 52-week high, though sitting 121.60 points higher than this time last month.
Mining companies are leading the declines, with Catalyst Metals (ASX:CYL) dropping 10.58% today to trade at $7.10.
The company completed the acquisition of Albright Metals‘ (ASX:ABR) Bryah Basin tenement package in Western Australia this morning, as reported by Mining.com.au.
Other resources companies performing lower includes Deep Yellow (ASX:DYL) by 10.16%, IperionX (ASX:IPX) by 8.23%, Capstone Copper (ASX:CSC) by 8.06%, and Sandfire Resources (ASX:SFR) by 7.83%.
Write to Maddison Elliott at Mining.com.au
Images: ASX
