The Australian Securities Exchange (ASX) repositioned itself in positive territory by the closing bell on reports US President Donald Trump may have reached a trade deal.
News reports tip the deal to be with the UK, with an announcement expected to be made tonight (AEST).
The prospect of further calm on the trade front lifted the S&P/ASX200 13.4 points, or 0.16%, to 8,191.7 points. The index has gained 0.57% over the past five days.
Seven of the 11 sectors made gains, led by utilities on a 1.81% one-day advance and a boost of 3.52% over the past five trading sessions.
Industrials climbed 1.71% and materials rose 0.47%, while the financial sector dropped 0.62%.
Among the S&P/ASX200 miners that made gains was gold play Genesis Minerals (ASX:GMD), which climbed 5.84% to $4.35. Uranium explorer Deep Yellow (ASX:DYL) rose 4.71% to $1.34.
However, lithium producer Pilbara Minerals (ASX:PLS) remained in the bottom five today (8 May), ending the session behind 3.9% at $1.48, Liontown Resources (ASX:LTR) fell 2.7% to $0.54 and Capstone Copper (ASX:CSC) retreated 2.69% to $7.61.
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
