The Australian Securities Exchange (ASX) is bouncing back for the end of the trading week on 23 January, after opening lower for three consecutive days in mid-week trading.
The bourse opened slightly higher this morning, up 0.90 points around 10.15am AEDT, before making a recovery to this week’s lows by midday.
At the time of writing (12.45pm AEDT), the ASX is up 34 points to a total of 8,882.70 points, crossing the platform above its 125-day moving average.
The market opened with around 8,900 points on Monday 19 January, before reaching a low of around 8,770 on Wednesday 21 January. The ASX is currently sitting 2.55% below its 52-week high.
Friday’s top gainers include several mining companies, such as Greatland Resources (ASX:GGP), Resolute Mining (ASX:RSG), Ramelius Resources (ASX:RMS), and Regis Resources (ASX:RRL).
Greatland saw a 8.34% increase to trade at $14.03 per share, after closing at $12.95 yesterday. The company has a market capitalisation of $8.71 billion.
Although the sector is consuming the top gainers for today, the materials industry is the second highest performer on the platform, to the information technology sector. Materials is up 1.56% to information technology’s 3.32% increase.
The material sector’s weekly performance is up 1.53%, while the energy sector has risen by 3.16% this week.
Trading markets are appearing to rebound after concerns from US President Donald Trump’s push for tariffs on Greenland. US Markets are performing higher after a series of losses.
The New York Stock Exchange Composite Index gained 70.66 points, representing a 0.31% increase to its previous close. Dow Jones gained 306.78 points with a 0.63% increase and S&P 500 saw a 0.55% jump with an additional 37.73 points.
Write to Maddison Elliott at Mining.com.au
Images: iStock
