strong nickel performance reviewed on minesite

That Was The Week That Was … In Australia

By Our Man In Oz

Minews. Good morning Australia, how did your market perform last week?

Oz. Much better, thanks. Buyers were back in force as shown in strong rises across the mining sector, led by the majors, but quickly followed by the mid-tier stocks and the juniors. It was an extra A$2 on the price of Rio Tinto and A$1 on BHP Billiton which did most to lift the materials index on the ASX by more than 400 points, but there was a hefty contribution from mid-tiers such as Zinifex (ZFX), Minara (MRE), Oxiana (OXR) and Kagara Zinc (KZL). Perhaps the best news of all was the absence of any large scale falls, a point best illustrated by the fact among the top 200 resources stocks a rise of 2.5 per cent, posted by Alumina (AWC) was enough to rate a mention among the top 10 worst performers ... more ...

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