ASX ends higher; OZ Minerals surges on BHP bid; Redbubble soars on upgrade
ASX rises slightly on energy and materials. OZ Minerals soars on BHP bid, Suncorp dives on profit drop, Redbubble rockets on UBS upgrade and EnergyAustralia earnings fall.
Welcome to the Trading Day blog for Monday, August 8. The Australian share market starts the week off in the green as energy and materials rally, while real estate and discretionary stocks weigh.
The S&P/ASX 200 index closed up by 0.1 per cent, or 5.04 points, to 7020.60.
The Dow Jones index rose a little more than 0.2 per cent on Friday, while the S&P 500 index fell nearly 0.2 per cent. The technology-focused Nasdaq index dropped 0.5 per cent.
Oil prices rose with global benchmark Brent crude up 0.8 per cent to $US94.92 a barrel and US Nymex crude gained 0.5 per cent to $US89.01 a barrel.
Iron ore futures was up 2.5 per cent to $US109.11, which could help the heavyweight mining sector, led by BHP and Rio Tinto.
The Australian dollar is trading around US69.34 at local close.
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