Ampol nears decision on Lytton refinery Ampol said it was close to a call on whether to keep Lytton refinery in Brisbane open or convert it into an import facility.
Business by Perry Williams
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Subscriber only Fuels retailer Ampol expects to make a decision within weeks on the future of its Lytton refinery in Brisbane, as it awaits the details of a federal government rescue package which could safeguard the facility s future. After a torrid period of trading for Australia s refineries which has seen BP and ExxonMobil decide to shutter their plants, Ampol said it was close to a call on whether to keep Lytton open or convert it into an import facility following its review.
Synopsis
The S&P/ASX 200 settled 0.5 per cent higher at 7,058.6, its best finish since Feb. 21 last year. Mining and energy stocks led the rebound from a 0.5 per cent drop in early trade.
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Mining stocks stood out, taking cues from Chinese coke futures that hit a near six-week high on Wednesday after some major coking plants sought to raise spot prices.
Australian shares reclaimed lost ground on Thursday to close at their highest level in nearly 14 months, as employment data cemented confidence that the economy recovery was in full swing. The S&P/ASX 200 settled 0.5 per cent higher at 7,058.6, its best finish since Feb. 21 last year. Mining and energy stocks led the rebound from a 0.5 per cent drop in early trade.
Synopsis
The S&P/ASX 200 index closed up 0.04 per cent at 6,976.9 points, having gained as much as 0.3 per cent during the session.
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Australian mining stocks tumbled 0.7 per cent to mark their third straight session in the red, even as iron ore prices jumped on robust demand worldwide.
Australian shares surrendered early gains in a choppy session to end flat on Tuesday as investors awaited inflation data from the United States before making further bets, with energy and mining firms cancelling out gains in tech stocks. The S&P/ASX 200 index closed up 0.04 per cent at 6,976.9 points, having gained as much as 0.3 per cent during the session.
Ampol Ltd,
Australia s biggest fuel seller, said on Monday it expects
market conditions to remain challenging in 2021, with travel
restrictions due to the coronavirus pandemic likely to. | February 27, 2021
The Australian share market finished session lower in choppy trade on Monday, 22 February 2021, as losses in healthcare and tech stocks countered strong gains in miners driven by buoyant commodity prices. At closing bell, the benchmark S&P/ASX200 declined 12.90 points, or 0.19%, to 6,780.89. The broader All Ordinaries dropped 2.49 points, or 0.04%, to 7,061.55.
Mining stocks rose, with copper miners leading the charge after prices of the base metal hit a more than nine-year high last week. Iron ore prices have defied expectations and returned to record highs of nearly $US170 per tonne as Chinese demand for the steel-making ingredient remained elevated, while copper prices have spiked this month. Iron ore titans BHP Group, Rio Tinto, and Fortescue all gained more than 3%.