Miners fly on iron ore price rally

Australia’s S&P/ASX 200 share index closed up 0.5% today to 6622.60 points on a bumpy day of trading to reach three straight days of gains.

The miners stole the spotlight off the back of an iron ore rally which saw BHP and Rio Tinto (RIO) skyrocket 5.15% and 7.07% a piece to lift up the entire index.

It was a relatively flat session of trading for the rest of Australia’s largest companies, particularly for the major banks.

 

Gainers and Losers

The biggest gainers on Tuesday were:

  • Xero +4.4% to $95.06
  • Fisher and Paykel +4.1% to $29.94
  • Healius +3.9% to $3.46
  • Collins Foods +3.4% to $10.35
  • NEXTDC +3.3% to $12.05.

The biggest declines were:

  • Webjet -6% to $3.58
  • Corporate Travel -5.8% to $15.81
  • Virgin Money UK -5% to $1.32
  • Northern Star -4.6% to $13.90
  • Sandfire Resources -4.6% to $4.20

New to investing? Read about How to keep your investment decisions simple.

Disclaimer:
This article does not take into account the investment objectives, financial situation or needs of a particular person or entity. Before acting on any investment strategy or advice you should first consult with your current ASIC accredited investment professional or seek out a compliant investment professional for such.