This is the first day of trading for the ASX since last Friday, and it’s been a very positive start. The Australian share market jumped at the open this morning and has maintained its momentum since then. At lunch time, it’s tracking 1% higher.
The local bourse has received a major boost from the mining companies. Also, the big four bank are in positive territory – ranging from a 0.26% gain for ANZ to a 1.18% gain for Commonwealth Bank.
The S&P/ASX 200 index is 63 points up at 5,691. On the futures market, the SPI is 42 points higher.
Company newsDecmil Australia Pty Ltd, a subsidiary of Decmil Group Ltd
(ASX:DCG), has secured a contract worth $50 million from a subsidiary of Rio Tinto. The contact scope includes the design, construction, and commissioning of the Mine Infrastructure Area at the Amrun project, 40 km south of Weipa, Queensland. The design phase will commence in January 2017, with works expected to commence on-site in August 2017. Shares in Decmil are trading 1.9% lower at $1.03.
Ausdrill, through its subsidiary African Mining Services,
(ASX:ASL) has been awarded a new mining contract at the Natougou project in Burkina Faso, West Africa. Ausdrill expects this contract to generate $370 million in revenue over 5 years, with mining to commence in April 2017. Shares in Ausdrill are trading 2.97% higher at $1.22.
Best and worst performersThe best performing sector is Materials, gaining 2.47 per cent to 9,772. Shares in Resolute Mining have risen 12.02 per cent and trading at $1.17. Shares in Saracen Minerals and Northern Star are also stronger.
The worst performing sector is Real Estate Investment Trusts, falling 0.24 per cent to 1,395. Shares in Goodman Group have fallen 1.1 per cent, trading at $7.17. Shares in Dexus Property Group and Cromwell Group are also lower.
Gold and the dollarGold is trading at $US1,141 an ounce.
The Australian dollar is buying $US0.7196.
