Despite a soft Wall Street lead the Australian share market has lifted 0.5 per cent into the second to last day of 2013.
Packing on to the month’s gains local stocks are continuing to head north with the broader bourse boosted by strength in the blue chips. Higher commodity prices have supported the mining sector and gold stocks such as Newcrest Mining Limited (ASX:NCM) have edged higher from this year’s sleep declines. Forge Group Limited (ASX:FGE) has climbed to the top of the 200 stocks with the engineer extending its week-long rally after confirming it is set to start working on Gina Rinehart's Roy Hill iron ore project.
Figures
While trading volumes are remaining light and in holiday mode the S&P/ASX 200 index has risen 23 points and is sitting at 5,347. On the futures market the SPI is 9 points higher.
Miners making news
Pilbara focussed iron ore miner Fortescue Metals Group Limited
(ASX:FMG) has informed the market of a fatality at its Christmas Creek site. A 23-year old male contractor employee died overnight from fatal injuries arising from an accident in the heavy vehicle workshop. Shares in Fortescue Metals Group are trading 1.74 per cent higher at $5.84.
Shares in Venturex Resources Limited
(ASX:VXR) have surged 25 per cent after the gold and base metals explorer inked a deal to sell the historic Whim Creek Hotel and accommodation village complex for $1.7 million. The assets are located southwest of Port Hedland in the Pilbara region of Western Australia and the deal is expected to be finalised in the first quarter of 2014.
Best and worst performers
Most sectors are making gains with the miners charging ahead: Materials have leapt 98 points to 10,199. Shares in Silver Lake Resources Limited
(ASX:SLR) have jumped 10.53 per cent and trading at $0.53. Shares in Beadell Resources Limited
(ASX:BDR) and PanAust Limited
(ASX:PNA) are also stronger.
The only major sector in the red is consumer discretionary, easing 0.4 points to 1,822. Shares in Kathmandu Holdings Limited
(ASX:KMD) have fallen 2.73 per cent, trading at $3.21. Shares in Domino's Pizza Enterprises Limited
(ASX:DMP) and Automotive Group Holdings Limited
(ASX:AHE) are also lower.
Gold and the dollar
Gold gained $1.70 overnight and is currently buying $US1,213 an ounce.
The Australian dollar has continued to weaken this morning and is sitting at $US0.8848.
