Australia's S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Tuesday.
Here's a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.09% to 6,135.80
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.08% to 6,241.50
- AUD/USD at US 78.6 cents
- Gold at US$1,322.50 an ounce
- Oil at US$61.90 a barrel
The biggest gain in the ASX200 today came from Sims Metal Management Ltd (ASX: SGM), which rose by 3.38%. Goldman Sachs revealed a positive note and maintained its conviction buy rating and set the price target at $17.74, higher than the current price of $17.42.
The iron ore price has reached its highest for a long time, hitting US$76.99 per ton. This has boosted Rio Tinto Limited's (ASX: RIO) share price by 2.38% today.
Lithium miners continue to do well with Galaxy Resources Limited (ASX: GXY) and Pilbara Minerals Ltd (ASX: PLS) up by 3.16% and 2.70% respectively. Investors are betting big on electric vehicles becoming a huge part of everyday life in the future.
Noni B Limited (ASX: NBL) had a strong day today, thanks to a positive trading update. The share price finished up 4.47%.
The Livetiles Ltd (ASX: LVT) share price shot up 6% after announcing it will be working with the Clean Energy Smart Manufacturing Innovation Institute.
Retail Food Group Limited (ASX: RFG) downgraded its profit guidance for the half-year to 31 December 2017. Consequently, the share price fell by 6% today.
Finally, the pharmacy stocks of Sigma Healthcare Ltd (ASX: SIG) and Australian Pharmaceutical Industries Ltd (ASX: API) had bad days, falling by 6.09% and 5.18% respectively.
Here are some of today's top stories:
