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 […]

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