Market Wrap / above 8000

Investors were bullish for a third consecutive trading day, with the main index advancing beyond the symbolic 8,000 point mark and back above “Liberation-Day” levels. 

The S&P/ASX 200 finished 0.9% higher at 8070.60 points.

The miners were broadly in the green as the US and China continue to negotiate trade relations. BHP and Rio both gained over 1% each. Mineral Resources was among the best performers, jumping 13.1%. Although the last quarter came in weaker than expected, MinRes says production volumes in this quarter should improve. The miner also announced job cuts in a bid to reduce costs. 

Elsewhere, Helix agreed to an earn-in joint venture for the Gold Basin Project in Arizona, sendig shares higher by 25%. However, the gold sector overall suffered from heavy-weight Northern Star lowering its output guidance, sending its share price lower by 4.7%.

Elswhere, Boss Energy leaped 14.3% as it reiterated production and cost guidance. 

In other company news, Woodside was up 1.5% as it announced it will go ahead with the Louisiana LNG development. A “game-changer” for the company according to its CEO Meg O’Neill. 

And Endeavour Group elevated former Virgin boss Jayne Hrdlicka to its top job. The stock seesawed today, but ended in the green. 

All eyes will now be on the inflation read released tomorrow, in the final days of the Federal Election campaign. Coles and Stockland will also release quarterly updates this Wednesday.