Market Wrap: BHP Billiton shares lead ASX’s charge

Local shares continued to build on last week’s gains after a surge in commodity prices.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 5142 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5204 points
  • AUD/USD at US 74.14 cents
  • Iron Ore at US$53.75 a tonne, according to the Metal Bulletin
  • Gold at US$1,259.38 an ounce
  • Brent oil at US$39.46 a barrel

After they slipped to multi-year lows recently, iron ore and oil prices have both continued their surprise rebounds, gaining more than 4% each during the latest session.

The gains were reflected across the resources sector, particularly in shares of BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG). The pair soared 5% and 23.7%, while South32 Ltd (ASX: S32) also gained 6.3%.

BC Iron Limited (ASX: BCI) gained an incredible 52%, with Sundance Energy Australia Ltd (ASX: SEA) and Senex Energy Australia Ltd (ASX: SXY) lifting 53.6% and 19.5%, respectively.

All four of Australia’s major banks rose by at least 1.3%, with National Australia Bank Ltd.’s (ASX: NAB) 2.3% gain leading the way.

Beadell Resources Ltd (ASX: BDR) was the worst performer for the day. It’s shares fell 9.1% to 25 cents.

Here are Monday’s top stories:

  1. Why the BHP Billiton Limited share price has surged 32%
  2. Is this the biggest risk to the big four banks?
  3. Why the Sundance Energy Australia Ltd share price soared today
  4. ASIC targets Australia and New Zealand Banking Group for market manipulation
  5. The iron ore price is flying, taking company share prices with it
  6. 3 market-thumping shares for your investment portfolio
  7. What housing crash?

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