The ASX has edged up slightly today, as we move toward a pause in trading ahead of the Christmas break.
The S&P/ASX200 is up just 4.70 points today to 7,508.80. Over the last five days, the index has gained 0.89% and is currently 0.78% off of its 52-week high.
The top performing stocks in this index at time of writing are Boss Energy Ltd (ASX:BOE, OTCQX:BQSSF) and Neuren Pharmacueticals Ltd, up 5.64% and 5.36% respectively.
Miners have led today’s gains. Lithium, iron ore and gold stocks have so far offset losses in health and financials.
The major banks are down around 0.3% at time of writing.
Fortescue (ASX:FMG) Group Ltd topped $28.4, while Rio Tinto Ltd (ASX:RIO) was testing its record peak of $135.4 set on Thursday. It was up 0.5% to $135. BHP (ASX:BHP) Group Ltd was also close to its 2023 peak of $50.21, gaining 0.4% at $49.95.
Looking at the sectors, Information Technology is 0.67% to the green, with Energy not far behind at 0.55% higher. Utilities is thus far the worst performed, falling 0.39%.
On the small cap front, the S&P/ASX Small Ordinaries is 0.23% higher to 2,893.90. Over the last five days, it has gained 1.20%.
The Australian dollar has hit a five-month high of 68 US cents.
“It looks like the Aussie is back and getting the support that they often have from the strength in developed stock markets,” head of FX strategy at NAB Ray Attrill said.
“In the past months, the risk-sensitive $A has been struggling and tracking emerging markets equities. There seems to be one of these ‘fear of missing out’-type rallies since the Fed meeting and that’s giving the Aussie added impetus beyond the influence of the broader US dollar weakness.”
After trading finishes today, the ASX will resume trading on Wednesday.
To everyone who follows Proactive, we wish you all a happy holiday.
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