Australian Mining Index Rises Amid China-US Trade Stabilisation.

Fri 16 May 25, 02:01 AM |

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Highlights:

Australian mining shares advanced on Thursday, with the S&P/ASX 200 Metals & Mining Index (.AXMM) rising 1.6% to 5,496 points, its highest closing level since March 28. The sector also marked its steepest intraday percentage gain in over two weeks, supported by iron ore prices holding firm near a five-week high.

The gains follow renewed optimism around global trade, after signs of a potential easing in tensions between China and the United States. Market participants cited this as a supportive factor for iron ore demand, though the momentum was tempered by weaker credit data out of China, which raised concerns about the country’s near-term economic activity.

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