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EN
ASX climbs as gold miners rally; energy stocks fall
['Staff Writers']
WA Today - Business
The Australian sharemarket started the new week with a gain, boosted by mining stocks after iron ore and gold prices strengthened overnight, and after Wall Street hit new highs leading into the weekend.
The liftersMiners led the advance, with iron ore heavyweights BHP (up 1 per cent), Fortescue (up 3.2 per cent) and Rio Tinto (up 2.6 per cent) all trading higher after iron ore prices jumped 1.2 per cent overnight.
Gold miners rallied as demand for bullion as a haven investment continues to push gold prices to new highs, benefiting their profits.
Northern Star Resources jumped 8.2 per cent, Evolution Mining rose 6.3 per cent and Newmont gained 4.7 per cent.
Dual-listed Newmont had also rallied on Friday in New York after the gold miner sold its investment in Canada’s Orla Mining for $US439 million ($660 million).
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