Industry News

ASX up 0.88% near noon: Wall Street records big gains

Views : 61
Update time : 2024-07-12 09:20:16

Australian shares opened strongly, rising 1.1% to surpass 7900 points, nearing a record high set in April. The rally, fueled by gains in Wall Street's tech giants, saw local sectors like technology and real estate advance. Concurrently, gold miners benefited from a rise in gold prices to $2372 per ounce, while Newmont shares climbed 3.3% to $67.50. However, iron ore prices declined amid subdued demand from steel mills and developers in China, exemplified by losses reported by major firms like Angang Steel and China Vanke.

At 11:35am, the S&P/ASX 200 is 0.88 per cent higher at 7,885.40.

The SPI futures are pointing to a rise of 66 points.

Related News
Read More >>
India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility
Apr .24.2025
India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility
China’s alumina exports surge in Mar due to domestic oversupply China’s alumina exports surge in Mar due to domestic oversupply
Apr .24.2025
China’s alumina exports surge in Mar due to domestic oversupply
Ferromolybdenum prices rise sharply in China, raising stainless steel costs Ferromolybdenum prices rise sharply in China, raising stainless steel costs
Apr .24.2025
Ferromolybdenum prices rise sharply in China, raising stainless steel costs
Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products
Apr .24.2025
Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products