S&P/ASX200 sets new 100-day high

The S&P/ASX200 closed up on Friday (8 March 2024), gaining 83.30 points or 1.07% to 7,847 and setting a new 100-day high.

Over the past 5 business days, the index gained 1.31% and is currently 0.08% off of its 52-week high.

Alumina Limited (ASX:AWC) was the top performing mining stock in the S&P/ASX 200, closing 5.172% higher.

Core Lithium (ASX:CXO) had the largest decline in the index, closing 4.546% down, while Chalice Mining (ASX:CHN) also closed trade lower, finishing 2.632% down.

The Australian Securities Exchange (ASX) was recently served a $1.05 million infringement notice by the Australian Securities & Investment Commission (ASIC) – the first time it has ever issued an infringement against a market operator. 

ASIC issued the notice as it has reasonable grounds to believe the ASX breached the rule requiring pre-trade transparency on 8,417 occasions between 4 April 2019 and 22 December 2022. 

The rule requires the Australian bourse to make certain information about orders available, however, it seems it deemed the ASX failed to do so for certain equity market products due to an incorrect system configuration. 

According to ASIC, the incorrect configuration went undetected until drawn to the ASX’s attention by a market participant, but on at least 2 occasions before 22 December 2022 the market operator could have, but did not, identify the issue. 

Write to Adam Orlando at Mining.com.au

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Written By Adam Orlando
Mining.com.au Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.