The Australian Securities Exchange (ASX) rose today to a high of 5,156.9 points before closing at 5,145 points, up 2.5 points from the previous close.
While the US non-farm payroll report impacted the market, traders remained cautious for the majority of the day, and Australian shares were relatively flat at the market’s closing, The Sydney Morning Herald reported. Investors are awaiting national elections, which are scheduled to take place September 7.
”We’re just marking time,” Bill Chatterton, director of equities at RBS Morgans, told the publication. ”The main reason for the low volumes and steady market is the election.”
Iron ore producer Fortescue Metals Group (ASX:FMG) was among the top gainers on the ASX today. The company jumped 2.71 percent, or $0.12, to $4.55. Similarly, Arrium (ASX:ARI), an international mining and materials company, increased to $1.25, a jump of $0.025, or 2.05 percent.
Gold, copper and silver producer Newcrest Mining (ASX:NCM) experienced losses on the ASX today, falling more than 3 percent or, $0.40, to $12.80. Regis Resources (ASX:RRL), another gold producer, dropped 2.56 percent, or $0.11, sinking to $4.19.