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Australia Miners start week strongly, ASX up

06:51  13 september  2021
06:51  13 september  2021 Source:   aap.com.au

Best day in three weeks for share market

  Best day in three weeks for share market Investors had their best gains on the ASX in three week and will look to a US jobs report and the Reserve Bank for clues on whether the market will stay high.Gains for miners and energy providers led the market to rise by half a per cent on Friday, set up by two Wall Street indices closing at record heights.

Today, we will start with the basics - how to start with minerstat and what should you need to know We strongly suggest to set up 2FA as soon as you log in for the first time and confirm your email address. Add additional groups if you like. Some miners like to segment their workers to distinguish

MINERS started the week much better than they finished Friday, with Metals & Mining gaining about 0.6% overall on the ASX 200. related articles. Flat start to week for ASX miners . Chalice the standout stock at the big end of town.

Shares were at their highest level of the day on the Australian market as miners and energy providers started the week strongly.

a close up of a fence: Materials and energy stocks have helped the ASX higher. © Bianca De Marchi/AAP PHOTOS Materials and energy stocks have helped the ASX higher.

The market was up 0.3 per cent on Monday as the two commodity categories each gained about 1.5 per cent by 1200 AEST.

Fortescue and Rio Tinto gained more than two per cent, while BHP was up by more than one per cent.

In energy, Santos was up 2.31 per cent following confirmation of its merger deal with Oil Search last week.

The benchmark S&P/ASX200 index was higher by 22.9 points, or 0.30 per cent, to 7429.5.

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  The Texas Chinese bitcoin gold rush Beijing's crackdown on cryptocurrency sends bitcoin entrepreneurs moving to the wild wild west.When China announced a crackdown on bitcoin mining and trading in May, Kevin Pan, CEO of Chinese cryptocurrency mining company Poolin, got on a flight the next day to leave the country.

Here on our ASX 200 Foolish Weekly Wrap, we look at some of the things that moved the S&P/ ASX 200 and the broader ASX share market last week and how this week is looking! It’s fair to say (in my opinion anyway) that the ASX 200 wouldn’t have broken even last week if it wasn’t for the massive surge we saw in ASX gold miners late in the week . The price of gold rallied last week , increasing from around US,697 per ounce on Monday to over US,750 an ounce by Friday ( up around 3%).

MINING investors started the shortened week in cautious fashion leading the Metals & Mining segment of the Australian market to close little changed on the ASX 200. The dearth of price action for the miners came as buyers looked elsewhere on the ASX following US stocks again shooting upwards Monday.

The All Ordinaries was up by 23.6 points, or 0.30 per cent, to 7729.8.

The ASX has so far defied the US lead from Friday, when all three main indices closed lower.

Investors will be keen to this week see US consumer inflation figures for August.

Wholesale inflation data published late last week showed prices climbed 8.3 per cent from August 2020.

This was the biggest annual gain since the 12-month number started being calculated in 2010.

Federal Reserve policymakers have said they believe inflation this year would be temporary and is a result of the economy recovering from the pandemic.


Video: RBA to 'keep' its economic support at $4 billion until 'at least' February 2022 (Sky News Australia)

However, persistently high inflation could force the Fed's hand to start pulling back on bond-buying and low interest rates sooner than anticipated.

CBA payout helps ASX to record close

  CBA payout helps ASX to record close Bank shares were in demand after the Commonwealth's bumper payout for investors, and the ASX closed at an all-time high.The bank's $6 billion buyback, part of an improved full-year cash profit, generated enough enthusiasm for shares to trade at a record $109.03 on Wednesday.

The SEEK Limited ( ASX :SEK) share price is one of four starting the week strongly . Here's what you need to know… In early afternoon trade the benchmark S&P/ ASX 200 (Index: ^AXJO) ( ASX : XJO) is off to a positive start and is up almost 0.5% to 5,933 points. Four shares climbing more than most today are listed below. Here’s why they have started the week with strong gains

Should income investors buy ASX banks or miners for dividend income? It’s getting harder to find good sources of dividends these days. Rio Tinto has a grossed- up yield of 8.25%. Fortescue clearly has the biggest yield, though it has just gone ex-dividend so you’ll have to wait another six months for the next dividend payment. But if you’re focused on total returns then I’m not sure the (iron ore) miners are worth buying today.

In Australia, Sydney Airport Corporation is closer to a decision on a takeover offer, letting an investor group examine its books after it raised its bid.

A group of superannuation companies has made a third bid for the airport of $8.75 per stapled security ($23.6 billion), up from a previous bid of $8.45 bid per security.

Securities were higher by 4.75 per cent to $8.38.

Also in travel, the competition watchdog has ruled a Qantas plan to co-ordinate flights with Japan Airlines is not in the public interest.

The airlines proposed co-operating on flights between Sydney, Melbourne and Tokyo as they struggle amid the pandemic.

Qantas shares were down 0.93 per cent to $5.27.

Data analytics software vendor Nuix will buy all the shares in US company Topos Labs.

Topos makes language-processing software which helps computers interpret spoken words.

Shares were up 0.37 per cent to $2.69.

The big banks were mixed. ANZ was best and higher by 0.29 per cent to $27.67.

Women's clothing retailer City Chic said its chief financial officer has resigned to follow other professional interests.

Munraj Dhaliwal will depart at the end of 2021 following three years at the company.

Shares were down 3.89 per cent to $6.17.

The Australian dollar was buying 73.58 US cents at 1200 AEST, lower than 73.79 US cents at Friday's close.

Iron ore miners in freefall, ASX drops .
Iron ore miners have plunged on the ASX after the price of the steel-making material fell as low as $US107 per tonne overnight.Iron ore specialist Fortescue Metals slumped by almost 10 per cent, while BHP and Rio Tinto sagged by more than three per cent after the price of the steel-making commodity fell as low as $US107 per tonne.

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