MENU

Why the S&P/ASX 200 hit a 3-month high today

The S&P/ASX 200 (ASX: XJO)   (ASX: XJO) is trading higher on the back of rising commodity prices including oil, iron ore, copper, nickel and aluminium. 

New US sanctions against Iran helped the oil price rise to a three year high. Oil companies’ share prices are up on the higher oil price and trading off lows seen in March. Companies up include Woodside Petroleum Limited (ASX: WPL), Oil Search Limited (ASX: OSH), and Origin Energy Ltd (ASX: ORG), while Santos Ltd (ASX: STO) was down 1.3% at the time of writing. 

Mining companies were stronger, including BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) 

Newcrest Mining Limited’s (ASX: NCM) share price was up 1.6% due to the commencement of production at Cadia, with the expectation of reaching full production rates before the end of the year. 

Japanese Billionaire’s Prediction Will Give You Goosebumps

When a veritable investing and entrepreneurial genius speaks, it pays to listen.

In fact, he's now preparing a $100B "war chest" to invest entirely in this "terrifying" new technology, which could spell huge profits for investors.

Click here to learn about this technology and how you can profit!

Motley Fool contributor Rosemary Steinfort owns shares of BHP Billiton Limited. 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 Scott Phillips.

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.