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BHP leads ASX to small gain

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The S&P/ASX 200 Index added just 6.2 points or less than 0.1 per cent to 7412.4; BHP Group rose 2.3 per cent to $50.92.

Iron ore traded in the spot market rose 3 per cent to $US150.80 a tonne for 62 per cent quality ore, according to SEnergy gave up some of its gains in the Asia session because of demand unease linked to China’s coronavirus mitigation strategy. West Texas Intermediate futures for May delivery fell 2.9 per cent to $US110.62 a barrel and the same Brent contract fell 2.6 per cent to $US117.51 a barrel.Woodside Petroleum was down 1.3 per cent to $33.16, Santos flat at $7.94, but Beach Energy added 0.

Spot gold fell 0.7 per cent to $US1943.72 an ounce. Gold miners were weaker, despite more evidence that supply chain disruption could persist in 2022. St Barbara fell 3.3 per cent to $1.47 after it cut its group production guidance for the 2022 financial year following a COVID-19 outbreak that hampered its ability to ramp up operations at its Simberi mine.for widespread COVID-19 testing, which VanEck said would add to inflationary fears.

 

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