ASX 200 Nearly Wipes This Years Losses.
The ASX 200 had another strong gain this week opening on Monday at 5157.5 and closing at 5236.4 + (1.93%).Coming close to erasing this year’s losses on the market.
The EquitySmart Winners & Losers for Friday.
API(AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED) +7.97%
FMG(FORTESCUE METALS GROUP LTD) -7.18%
GWA(GWA GROUP LIMITED) -10.24%
Iron ore continued to rise this week topping $US70 a tonne on china’s steel output. From this BHP had a nice gain from opening at $18.49 at the start of the week and closing at $20.36 by the end of the week, making its first high at this price in 22 weeks. Though at the same time, BHP this week did cut its iron ore export target for the second time in the 2016 financial year.