mineral exploration project – commodity prices – mining stock- trade and market

Stocks in Australia’s biggest mining companies rose Monday as the government’s plans for a new tax on their profits were thrown into doubt after the nation’s closest election in almost 50 years delivered no clear mandate.

Trading in the rest of the market was flat, however, and Australia’s chamber of commerce urged companies to continue investing despite what will likely be two or three weeks of uncertainty about who will govern the country for the coming three years.

The center-left Labor Party — which has ruled for the past three years and remains in...

The Australian sharemarket closed three per cent higher for the week, as middling-to-positive leads from European stocks and Wall Street culminated in a solid weekly close, after China rejected reports it was considering reviewing its European bond holdings.

For the week, the benchmark S&P/ASX200 index gained 3.15 per cent to 4,457.5 points, while the broader All Ordinaries index jumped 7.58 per cent to 4,479 points.

AMP Capital Investors chief economist Shane Oliver said it looked like a correction in equities and commodities prices was under way, and a decent rally was beginning.