MENU

Market Wrap: ASX booms as miners skyrocket

The local share market roared back to life on Thursday, almost reversing all of Wednesday’s decline.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 2.1% to 4980 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 2% to 5029 points
  • AUD/USD at US 71.71 cents
  • Iron Ore at US$44.63 a tonne, according to the Metal Bulletin
  • Gold at US$1,140.98 an ounce
  • Brent oil at US$35.17 a barrel

The ASX followed the lead set by the Dow Jones overnight as oil prices soared back above US$35 a barrel. That was largely caused by a significant dip in the value of the US dollar which also saw the Australian dollar rally above US71 cents.

The oil and gas sector was the biggest winner today, led by none other than BHP Billiton Limited (ASX: BHP). Its shares soared 8.3% while Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH) all rallied between 5.8% and 13.4%.

Santos was one of the best performing shares from the ASX 200 cohort.

Meanwhile, Rio Tinto Limited’s (ASX: RIO) shares soared 8.9%, Fortesue Metals Group Limited (ASX: FMG) shares lifted 11.7%, and South32 Ltd (ASX: S32) shares exploded 14.2%.

Westpac Banking Corp (ASX: WBC) was the best from the banks, rising 3.6%. Unfortunately, Ansell Limited (ASX: ANN) wasn’t so lucky, plummeting 20.6% after an earnings downgrade.

Here are Thursday’s best stories:

  1. Why the BHP Billiton Limited share price is skyrocketing today
  2. Here’s why Ansell Limited shares are down 17% today
  3. Here’s why the South32 Ltd share price surged higher today
  4. Macquarie Group Ltd guides for increased profit in 2016: Should you buy?
  5. Here’s why your Big Bank shares are crashing
  6. REA Group Limited, Carsales.Com Ltd & SEEK Limited: Is it too late to buy?

The Internet is About to Go "Six Feet Under"... And You CAN'T Afford to Miss What Comes Next

In-the-know investors are dancing on the Internet's grave--and gearing up to cash in on an even BIGGER tech industry. Australia--and the world--will NEVER be the same. Dollar for dollar, insiders are calling it one of the biggest new markets in the history of modern business... NOW is the time to get in on the hush-hush industry that could be poised for growth of over 4,463%+ by 2020... And the 1 ASX stock that stands to grow YOUR money right alongside it! Simply click here to learn its name.

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.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.