The Australian sharemarket rose today, boosted by the Bank of Japan's decision to maintain its bond-buying program and maintain negative interest rates, which saw Japanese stocks soar. The Nikkei was up 2% at the close.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.7% to 5,339.6 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.6% to 5,429.4 points
- AUD/USD at US 75.55 cents
- Iron Ore up 0.2% to US$55.77 a tonne, according to the Metal Bulletin
- Gold up 0.1% at US$1,314 an ounce
- Brent oil up 0.2% to US$46.02 a barrel
Vocus Communications Limited (ASX: VOC) was the big news of the day, with the share price crashing down 9.9% to $6.09 – exacerbated by the resignation of its CFO this afternoon.
Lithium miners Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) fell by 7%, 7.3% and 5.3% respectively – with fears arising that the lithium boom could end in a bust. The top four global producers are already looking at ways to increase production and capture more of the value chain.
Fertilisers and chemicals company Nufarm Limited (ASX: NUF) saw its shares rise 4.6% after it released its annual report while laboratory testing company ALS Limited (ASX: ALQ) saw its shares rise 5.4%.
Here are Wednesday's top stories:
- Is it time to sell Orocobre Limited and the rest of the lithium producers?
- Here's why Vocus Communications Limited shares are getting crushed today
- Here's why Nufarm Limited rocketed to a 52-week high today
- Is Australia's property market headed even higher?
- 3 high-quality businesses on sale right now
- Is the gold price set to crash?
- Why Warren Buffett avoids these 3 types of companies
All eyes will now turn to the US where the Federal Reserve is expected to update the market on its policy going forward – which is due to come out before the start of Australian trading on Thursday morning.
