Market Wrap: ASX in iron ore fuelled rally

The local share market continued to climb today, even rising above the 5000-point mark.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 5001 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5056 points
  • AUD/USD at US 71.68 cents
  • Iron Ore at US$48.52 a tonne, according to the Metal Bulletin
  • Gold at US$1,215.80 an ounce
  • Brent oil at US$33.44 a barrel

Local shares rallied today after the iron ore price rose 3% during the latest session, while a number of strong earnings reports also provided investors with some encouragement.

Of the miners, BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) were among the beneficiaries, each rising more than 3%. Arrium Ltd (ASX: ARI) also recovered 46.7%, while Fortescue Metals Group Limited (ASX: FMG) shares gained 9.1%.

On the earnings front, NIB Holdings Limited (ASX: NHF) gained 7.3% and Brambles Limited (ASX: BXB) rose 8.5%, with several other companies also recording gains after they released their own profit results.

In addition to Arrium, Slater & Gordon Limited (ASX: SGH) and Mesoblast limited (ASX: MSB) were among the top performing shares, rising 14.6% and 10.3%, while Beadell Resources Ltd (ASX: BDR) was one of the worst performers, losing 10.4%.

Here are Monday’s top stories:

  1. NIB Holdings Limited shares soar 8% on profit result
  2. Why the Arrium Ltd share price is soaring today
  3. Here’s why the oOh!Media Ltd share price jumped today
  4. 3 reasons why the BHP Billiton Limited share price has surged 20%
  5. G8 Education Ltd shares dip despite record full year profit
  6. Why the Mesoblast limited share price has soared 45%

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

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