The ASX 200 rebounded strongly today, more than reversing yesterday's declines. This was driven, in large part, by a surging oil price, despite a collapse in the iron ore price.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.1% to 5500 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.1% to 5560 points
- AUD/USD at US 73.98 cents
- Iron Ore at US$72.08 a tonne, according to the Metal Bulletin
- Gold at US$1,169.40 an ounce
- Brent oil at US$52.05 a barrel
BHP Billiton Limited (ASX: BHP) surged 4.9% thanks to the oil rebound.
Its fellow energy producers, including Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO), Sundance Energy Australia Ltd (ASX: SEA) and Origin Energy Ltd (ASX: ORG) all climbed between 6.5% and 14.3%, as well.
Iron ore miners Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: FMG) escaped any damage, soaring 8.2% and 1.7%. South32 Ltd (ASX: S32) lifted 6.3%.
The gold miners endured more pain today. EVOLUTION FPO (ASX: EVN) dropped 6.2% and Beadell Resources Ltd (ASX: BDR) lost 9%.
Aconex Ltd (ASX: ACX) had another day to forget. Its shares dropped 5.9% while Transurban Group (ASX: TCL) fell 3.9%.
Meanwhile, Vocus Communications Limited (ASX: VOC) managed to stem the losses. Its shares fell 0.2% still, but that's a lot better than the 27.6% fall the shares have endured over the past two sessions.
Here are Wednesday's top stories:
