The ASX200 achieved a record close, up 0.8% at 8318 points after hitting a new all time record of 8331 points in intra day trade.
The enthusiastic investor sentiment followed Wall Street’s gains overnight and an uptick in iron ore prices. Iron ore has been trading at US$107.35 per tonne in Singapore, pushing miners higher.
The Financials sector was the strongest performer, up 1.32%, followed by Industrials, IT and Telecommunication, all up around 1%.
The energy sector plummeted 1.25% on the back of OPEC downgrading oil price forecasts.
In the Green
African Gold (ASX:A1G) closed up 102% after it discovered gold grading 5.6 grams per tonne (g/t) across 65.0 metres from 177 metres. This was in one hole of a six-hole program of diamond drilling at its Didievi project in the Ivory Coast.
African Gold closed at 9.5 cents.
Lotus Resources (ASX:LOT) finished up 7.4% on the back of a broker issued by Bell Potter. The broker has retained its speculative buy rating and 50 cents price target on the uranium developer’s shares.
Lotus Resources closed at 29 cents
Australian Strategic Materials (ASX:ASM) finished up 10% on news of a $5 million federal government grant for its Dubbo Project.
The grant will support work to identify potential lower capital and shorter implementation pathways to rare earth production.
Australian Strategic Materials closed at 66.5 cents.
In the Red
Woodside (ASX:WDS) closed down 2.17% on news OPEC has revised oil demand forecasts downward. Brent crude has been down more than 4% in late afternoon trade.
Woodside closed at $24.79.
Metgasco (ASX:MEL) closed down 9.09% after gas production commenced from its Odin-2 well. The well has been online since October 13 at a rate of 3 million standard cubic feet per day.
Metgasco closed at half a cent. ($0.005.)
Tyro Payments (ASX:TYR) closed down 11.05% on news the federal government is planning to outlaw debit card surcharges in a broad crackdown on consumer fees.
Tyro payments closed at 80.5 cents.