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AU Evening Wrap: ASX Rises 0.5%; BHP, Fortescue Shares Soar

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Moomoo News AU wrote a column · Jul 25, 2023 02:48
The Australian sharemarket was bolstered by gains in mining stocks as investors bet on growing Chinese demand for the steel-making commodity.
The benchmark $S&P/ASX 200(.XJO.AU)$ rose 0.5 per cent, or 33.3 points to 7339.7 at market close, buoyed by the materials and energy sectors.
China's pledge for measures to help stabilise its economy sent iron ore futures higher. Iron ore futures traded higher on the Singapore exchange in late afternoon trading, up 1.7 per cent to $US114.50 a tonne on the August contract.
The major miners tracked the steel-making commodity's price, led by $BHP Group Ltd(BHP.AU)$ climbing 3.3 per cent. $Fortescue Ltd(FMG.AU)$ surged 4.6 per cent and $Rio Tinto Ltd(RIO.AU)$ added 3.4 per cent.
Lithium explorer Pilbara Minerals was one of the best performing stocks, jumping 5.2 per cent.
The energy sector was the second-best performing. Energy stocks rose off the back of higher oil prices. $Woodside Energy Group Ltd(WDS.AU)$ shares rallied 1.2 per cent, $Ampol Ltd(ALD.AU)$ increased 1 per cent and $Karoon Energy Ltd(KAR.AU)$ climbed 2.3 per cent.
Consumer discretionary stocks were in the red. The sector was dragged lower by $Wesfarmers Ltd(WES.AU)$, its shares lost 0.9 per cent. Domino's Pizza tumbled 5 per cent after Goldman Sachs downgraded the stock to a "sell" rating.
S&P/ASX 200 Movers for Tuesday (25/7)
AU Evening Wrap: ASX Rises 0.5%; BHP, Fortescue Shares Soar
How to find the above information in moomoo app:
1. Open moomoo app

2. Search for and tap on ".XJO"

3. Roll down to see "Constituent Stocks"

4. You can filter the list based on "%Chg"
10 Top-Traded AU Stocks for Tuesday (25/7)
AU Evening Wrap: ASX Rises 0.5%; BHP, Fortescue Shares Soar
How to find the above information in moomoo app:

1. Open moomoo app

2. Tap your finger on "Market" and "AU"

3. Roll down and tap on "Main Board"

4. You can filter the list based on "Turnover"
Source: Dow Jones Newswires, The Market Herald
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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    Moomoo News AU
    Moomoo News Official Account
    Australian stock market news that is available at your fingertips
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