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ASX 200 finishes up 1.4%, gold miner share prices surge

ASX 200
Credit: Cimexus

The S&P/ASX 200 Index (ASX: XJO) ended the day 1.4% higher to 5,405 points as the share prices of gold miners surged.

China continues to ramp up the pressure on Australia with different commodities according to media reporting.

Here are some of the biggest ASX 200 headlines from the day.

Gold miners jump

As volatility starts ramp up again investors are looking for safe havens like ASX 200 gold miners. The biggest gainers were:

The Silver Lake Resources Limited. (ASX: SLR) share price grew almost 9%.

Gold Road Resources Ltd (ASX: GOR) saw its share price rise over 7%.

Saracen Mineral Holdings Limited (ASX: SAR) experienced a 7% share price rise.

The Resolute Mining Limited (ASX: RSG) share price went up 6.9%.

Boral Limited (ASX: BLD) 

The ASX 200 construction business today announced that it has increased and extended its debt financing facilities with a new US private placement note issue of US$200 million, approvals for new two-year bank loan facilities of $365 million and approvals to extend $665 million of the existing $750 million.

Boral’s operations are still permitted and encouraged to continue, though there have been limitations in some locations. The company reported that revenue and volumes were down with lower profit margins.

The Boral share price finished 2.3% lower, it was one of the worst performers within the ASX 200 today.

Investors send the Xero Limited (ASX: XRO) share price down further

After a sizeable drop yesterday in reaction to the ASX 200 cloud accounting software company’s FY20 report, the Xero share price fell another 5.6% today.

Xero reported that free cash flow increased by 320% to NZ$27.1 million. Net profit after tax (NPAT) came in at $3.3 million, an improvement from the NZ$27.1 million loss in FY19. As free cash flow grows it should mean investors are more willing to pay for a higher Xero share price over time.

Whilst Xero reported solid growth numbers in FY20, the early trading in FY21 has showed that Xero is being affected too. The uncertainty is why Xero was unable to provide much guidance for FY21.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Xero. 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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