FIVE at FIVE AU: ASX ends higher as uranium and iron ore gain; August employment beats expectations

The Australian market ended higher today with the S&P/ASX 200 finishing up 40.4 points, or 0.57%, to 7,194.3, led by the Materials and Financials sectors.

Materials were trading 1.01% higher after the iron ore price hit a six-month high and iron ore futures in Singapore breached $120 per tonne. Shortly before the close, BHP had risen 1.15% to $44.31, Fortescue Metals 3.78% to $20.34 and Rio Tinto 2.36% to $116.07.

Uranium stocks also rallied following a report from the World Nuclear Association, which forecast strong uranium demand through to 2040. Paladin Energy was up 4.75% this afternoon, while smaller-cap Deep Yellow gained almost 7.7%.

Coal producers were also higher, with Yancoal, Whitehaven and New Hope all up more than 2%. Employment picks up in August After a small drop in July, employment bounced back last month with 64,900 jobs created in August, well above expectations of a gain of 23,000. The unemployment […]

Click here to view original web page at www.proactiveinvestors.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.