The S&P/ASX 200 Index (INDEXASX: XJO) continued its stunning rebound on Wednesday in another strong day for Aussie equities.
The ASX 200 closed 0.47% higher at 6,994.80 points and remains just shy of the elusive 7,000 points barrier. The broader All Ordinaries Index (INDEXASX: XAO) finished 0.50% higher at 7,113.50 points yesterday.
It was also a good day for most of the ASX major sectors, with only Consumer Staples (-0.19%) finishing in the red.
Industrials (+0.89%) and Energy (+0.64%) were the strongest performers in a positive day for most shareholders.
Here’s a look at 3 of the biggest news items and events you missed on another big day of trade in Aussie equities.
1. Gold miners lead the ASX 200 higher on Wednesday
It’s not all that often that you see a strong day across the board and an ASX gold miner top the winners list.
The St Barbara share price closed 8.12% higher at $2.93 per share with Evolution shares climbing 5.77% to $3.85 yesterday.
Both companies recently provided market updates and investors’ hopes in the Aussie miners was clearly high as the 2 gold companies led the way.
2. Record highs continue in strong start to 2020
It’s been a strong start to the new decade with the ASX 200 once again smashing records on Wednesday.
All three of these ASX 50 companies have been surging past their previous record highs this week in a solid all-round performance.
3. Coal miners hit hard as BlackRock ditches fossil fuels
The world’s largest asset manager BlackRock has bowed to investor pressure and announced it will dump fossil fuels from its immense portfolio.
BlackRock will cut thermal coal exposure from its investments, some US$7 trillion worth of them around the globe.
That saw ASX 200 coal miners such as Whitehaven Coal Ltd (ASX: WHC) fall lower on Wednesday in response.
Pilbara and Orocobre shares slumped shares slumped 7.69% and 5.54% lower in yesterday’s trade. However, both mining stocks remain up nearly 30% for the year despite the stumble.
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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Sonic Healthcare Limited. 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.
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