Miners produce major gain 👷♀️
Episode description
The local market jumped from the outset, snapping an ugly three-day losing streak. Materials led the rebound, and the sector added a decent 3.5%. Fortescue lifted its iron ore shipments guidance, and closed a juicy 8.2% higher. Sandfire outperformed, popping 10% on a solid quarterly. AMP was the biggest percentage gainer after it offloaded its infrastructure investing unit, closing well north of 10%. After pulling its full year guidance Silver Lake Resources got the wooden spoon, down over 6%. Tyro Payments and Paladin weren’t far behind at the bottom of the ladder. So in a bottom-left-top-right kind of day, the S&P/ASX200 closed at 7357, or 1.3% higher.
Our top three VODs:
How Woodside can benefit from Russia's natural gas cut-off
Three stocks to watch during inflated times
How the sectors are providing attractive rotation opportunities
Hosted on Acast. See acast.com/privacy for more information.