InDaily InDaily

Support independent Journalism Donate Subscribe
Support independent journalism

Markets

Miners, banks help market recover

Markets

The share market has recovered from its early sharp fall as mining and bank stocks firmed.

Comments
Comments Print article

The benchmark S&P/ASX200 index was down 0.2 per cent in early afternoon trade, an improvement on its early fall of more than 1 per cent.

Mining shares were among the best performers, with BHP Billiton up 1.4 per cent after Brazil’s federal court ratified a settlement reached with the country’s authorities over a deadly dam spill.

Fortescue Metals was up 4.8 per cent, while Oz Minerals had gained 2.5 per cent after announcing plans to expand its Carrapateena copper and gold project in South Australia.

Among the banks, NAB and Westpac were around 0.5 per cent higher, while ANZ and Commonwealth Bank were in negative territory.

Macquarie Group was steady after reporting a record $2.06 billion annual profit and forecasting a similar profit in the year ahead.

KEY FACTS:

* At 1228 AEST, the benchmark S&P/ASX200 index was down 10.4 points, or 0.2 per cent, at 5268.7 points.

* The broader All Ordinaries index was down 8.3 points, or 0.16 per cent, at 5336.2 points.

* The June share price index futures contract was down 24 points at 5242 points, with 30,889 contracts traded.

* National turnover was 989 million securities traded, worth $2.34 billion.

-AAP

Make a comment View comment guidelines

Make your contribution to independent news

A donation of any size to InDaily goes directly to helping our journalists uncover the facts. South Australia needs more than one voice to guide it forward, and we’d truly appreciate your contribution. Please click below to donate to InDaily.

Donate here
Powered by PressPatron

Comments

Show comments Hide comments
Will my comment be published? Read the guidelines.

More Markets stories

Loading next article