Markets Live: Miners fall off a cliff
Steep losses in mining stocks following a collapse in the iron ore price weigh on the ASX, while the Aussie dollar is boosted by jobs numbers.
Jens is the markets and breaking news editor, based in Sydney.
Steep losses in mining stocks following a collapse in the iron ore price weigh on the ASX, while the Aussie dollar is boosted by jobs numbers.
Shares end marginally higher, as gains in the big banks offset a dive in Telstra shares, amid an overall cautious mood.
Shares extend yesterday's rally, led up by the big banks and energy stocks, while BHP gives back some of yesterday's outsized jump.
The ASX tops 5900 points in broad-based gains led by BHP Billiton after a US hedge fund urges a restructure, while the Aussie dollar continues to fall.
Just 28 per cent of Australian millennials own a home, only marginally higher than their peers in the United Arab Emirates, a survey has found.
Shares advanced after solid gains across mining and energy stocks helped the ASX overcome selling in the big banks.
The local sharemarket extended Tuesday's strong gains to hit another near two-year high, with banks once again at the vanguard of the rally.
The ASX hits a fresh 2017 closing high thanks to a surprisingly strong performance of the big banks.
Cyclicals were heralded as the stocks to hold in 2017, but despite a disappointing underperformance in the first quarter it's too early to write them off.
A record number of global fund managers reckon that stocks are overvalued, according to Bank of America Merrill Lynch's monthly survey.
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