ASX rises 0.5% as miners surge, banks and insurers fall
The ASX 200 gained 0.5% to 9,103 points, following Wall Street higher, with materials stocks leading and financial stocks weighing the index down.
BHP rose 3.0%, Rio Tinto 1.2% and Fortescue 1.0%. Uranium miners were particularly strong, with most major players up more than 10%, while lithium miner Pilbara Minerals gained 7.9% after reinstating a dividend.
Refiners bucked weakness in oil and gas, with Ampol jumping 4.3% after reporting half-year profits above $1 billion. The finance sector fell, with the big four banks lower and insurer NIB dropping 8.4% after poor full-year results, Stephen Letts reports for ABC business (AU).