Uranium and gold rallies help ASX end higher
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The news: The Australian sharemarket ended higher, helped by a surge in uranium and gold stocks.
The benchmark ASX 200 rose 0.6% to end the day at 8,250.50, with 10 out of 11 sectors closing in green.
Biggest movers:
- Uranium explorers soared after Canadian producer Cameco said production from its Inkai joint venture in Kazakhstan was unexpectedly halted. Deep Yellow (9.4%), Boss Energy (5.2%) and Paladin Energy (4.3%) were the three best performers across the ASX 200.
- Gold miners Newmont Corporation (3.2%) and Capricorn Metals (3%) were also among the top 10 performing ASX 200 companies, as gold prices hit a two-week high.
Other news:
- Johns Lyng Group (-2.4%), Yancoal (-2.3%) and Fortescue (-2.1%) saw the largest declines across the ASX 200.
- China's Ministry of Commerce released plans to tighten export restrictions on certain technology used to make battery components and process critical minerals lithium and gallium. ASX lithium miners Mineral Resources (-1.4%), Pilbara Minerals (-1.4%) and Liontown Resources (-0.9%) all ended lower, with materials (-0.2%) the only sector in red.
The Australian dollar is buying 62.19 US cents.
What’s ahead: Next week, the Australian Bureau of Statistics will publish monthly data spanning building approvals, job vacancies, retail trade, household spending and consumer price index figures.
New US unemployment claims and ISM manufacturing purchasing managers index (PMI) data is due to be released tomorrow morning AEDT. US unemployment claims and JOLTS job openings will be published next week.
