logo-loader
viewProactive Australia

ASX All Ords trades lower, but major miners buck trend with big gains

The major miners locked in a second day of strong gains, with BHP Billiton climbing another 4.1% to $16.09. Gold and iron ore were stronger, oil was weaker.

au_mining350_56b421be63f6d.jpg

The Australian Share Market ignored modest gains on Wall Street overnight, opening softer and trending lower across the session.

An hour before the close of trade for the week, the ASX All Ordinaries was off 0.8% to 4989.

Bucking the trend though is the major miners, locking in a second day of strong gains, as investors did a bit of value investing - or bottom fishing - depending on your view point.

BHP Billiton (ASX:BHP) added another 4.1% to $16.09, while Fortescue Metals Group (ASX:FMG) zoomed up 3.6% to $1.87.

Joining the iron ore party, Rio Tinto (ASX:RIO) added 2.5% to $41.32, while the continuing lift in the gold price powered Newcrest (ASX:NCM) another 4.0% higher to $14.88.

It was more a mixed bag in the energy sector, with Oil Search (ASX:OSH) the best adding up 0.6% to $6.79.

Missing the boat was Santos (ASX:STO) which fell 1.6% to $3.09, while Woodside Petroleum (ASX:WPL) was down 1.2% to $26.80.


BLUECHIP ROUND-UP

Big 4 banks

ANZ Bank (ASX:ANZ) down 1.6% to $23.90; Commonwealth Bank (ASX:CBA) down 1.6% to $76.12; National Australia Bank (ASX:NAB) down 1.9% to $26.36; Westpac (ASX:WBC) down 1.5% to $30.01.


Other banks, financials and industrials

AMP (ASX:AMP) down 1.1% to $5.21; Bank of Queensland (ASX:BOQ) down 1.9% to $12.55; Bendigo and Adelaide Bank (ASX:BEN) down 1.5% to $10.21; Macquarie Group (ASX:MQG) down 2.1% to $63.51; Suncorp (ASX:SUN) down 1.6% to $11.32; Telstra (ASX:TLS) down 0.7% to $5.59.


Retailers

JB Hi-FI (ASX:JBH) down 2.2% to $21.92; Wesfarmers (ASX:WES) down 1.3% to $42.35; Woolworths (ASX:WOW) down 2.0% to $23.45.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: Proactive Australia

Price: - -

ASX:.
Market: ASX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Havilah Resources' Chris Giles recaps on encouraging drill results and REE...

Havilah Resources Ltd's (ASX:HAV) Chris Giles speaks to Proactive's Andrew Scott following the release of its quarterly activities report. He says the clear highlight for them in the period was the aircore drilling results from West Kalkaroo which included 20 metres of 6.3 g/t gold in the...

10 hours, 51 minutes ago

2 min read