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July 26 (Reuters) - Australian shares hit a fresh high on
Monday as mining stocks jumped more than 1%, while rare earth
producer Lynas hit its highest level since January 2013 after
reporting record quarterly revenue.
The S&P/ASX 200 had risen 0.2% to 7,408.30 points by
1247 GMT, extending gains to a fourth straight session.
Miners led the charge with a more than 1% rise, with
Lynas Rare Earths the biggest winner on the benchmark
index.
Lynas on Monday reported a record fourth-quarter revenue as
robust demand led to a jump in sales of the metals it mines,
offseting weaker prices.
Wall Street indexes gained on Friday, driven by upbeat
Pilbara gold find WA's biggest since Gruyere and Tropicana theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.
Why the De Grey Mining (ASX:DEG) share price is charging 5% higher
James Mickleboro | May 10, 2021 10:36am |
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In early trade, the gold explorer’s shares were up 5% to $1.56.
This latest gain left the De Grey Mining share price trading within touching distance of its record high of $1.67.
Why is the De Grey Mining share price rising?
Investors have been buying the company’s shares this morning following the release of an update on drilling activities at the Aquila zone at its Hemi prospect in Western Australia.
According to the release, the metallurgical testwork results from the Aquila zone have revealed high gold recoveries that are consistent with the positive results previously achieved from the Brolga zone.
Investors await RBA policy meeting minutes on Tuesday China posts strong Jan-Feb economic data (Updates to close)
March 15 (Reuters) - Australian shares reversed course to close slightly higher on Monday, as strong economic data from the country’s top trading partner China buoyed sentiment, but weaker technology and mining stocks limited gains.
The S&P/ASX 200 index ended 0.1% higher at 6,773.00, extending the benchmark’s 0.8% rise on Friday.
Data on Monday showed China’s industrial output grew 35.1% in January-February from a year ago, better than the 30% expected in a Reuters poll.
China’s retail sales, fixed asset investment, refinery throughput and aluminium production for first two months of 2021 also marked strong growth.
Australia Market settles higher business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.