Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Friday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.45% to 6,195.20
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.44% to 6,280.90
- AUD/USD at US 71 cents
- Gold at US$1,308.90 an ounce
- Brent Oil at US$67.83 a barrel
The best-performing ASX 200 share today was Pact Group Holdings Ltd (ASX: PGH), the company rose more than 6%, recovering yesterday’s losses.
At the red end of the ASX200, St Barbara Ltd (ASX: SBM) shares fell 29% after announcing a guidance downgrade of production. Some other gold miners suffered as investors predict more capital growth for the ASX share market, the Saracen Mineral Holdings Limited (ASX: SAR) share price dropped 4.2%.
The Premier Investments Limited (ASX: PMV) share price fell 0.7% today after the retailer reported its half year result with decent overall revenue and profit growth in this tough retail environment.
It was a strong day for resources business Syrah Resources Ltd (ASX: SYR), which rose by 6.1%.
Finally, the share price of US-based businesses had a good day including CSL Limited (ASX: CSL), its share price gained 1.5%.
Here are some of today’s top stories:
- Financial independence and how you can achieve it
- Here’s why the Transurban share price is hitting 52-week highs
- Is it better to budget savings or spending first?
- What’s happened to Australian REITs this week?
Today has proven why gold miners aren’t necessarily a good store of wealth. Instead, I think these top ASX shares are much better long-term investment ideas.
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Motley Fool contributor Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Brickworks. 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.