Mining boost late for ASX
Shares have ended the week on a high note as investors jumped back into the big miners after iron ore prices climbed and some faith in the US-led reflation trade returned to markets.
The ASX 200 ended the day up 33 points, or 0.6 per cent, to 5854, but the benchmark ended the week lower by a similar margin.
There was lots of action in the telco market, as TPG plunged 11 per cent as it returned from a capital raising, but that hid a bit of a “buy the dip” mentality in the sector. Telstra added 1.7 per cent and Vocus 2.8 per cent.