As the country welcomes the beginning of a new financial year, the Australian Securities Exchange (ASX) has seen a 0.35% jump today (1 July), gaining an additional 29.6 points to a total of 8,571.9 points as of 10.25am (AEST).
While only four sectors are following highs, including the material’s sector which has increased 0.36%, the S&P/ASX200 has passed its 20-day moving average.
West African Resources (ASX:WAF), which has a market capitalisation of $2.58 billion, is charting second on the platform with a 3.96% increase to a share price of $2.36. This spike comes after the news of the company pouring its first gold bar from the Kiaka Gold Project, as reported by Mining.com.au.
The declines list has seen Champion Iron (ASX:CIA) fall 2.15% to a share price of $4.08, followed by Iluka Resources (ASX:ILU), which has dropped 2.1% in value to $3.72 per share.
Over in the US, Trading Economics reported that the US Dollar index is nearing its lowest level since February 2022, currently sitting at 96.7 which indicates a yearly decrease of 8.48%, and all time decrease of 19.36%.
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 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 Maddison Elliott at Mining.com.au
Images: Australian Securities Exchange
