Resources companies, comprising energy and mining stocks, were the top performers in the S&P/ASX 200 Index, which fell 0.3% last week.
Here are the winners and losers in the ASX 200 for the week ended Friday, July 8.
Top 5 share price gains
Weekly rise: 18.9% to $1.355
Share price movement past 12 months: up 12%
Shares in Whitehaven Coal (ASX: WHC) advanced last week despite the company not making any announcement to the Australian Securities Exchange (ASX) since April 14.
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Weekly rise: 13.2% to $2.92
Share price movement past 12 months: up 141.3%
Evolution Mining (ASX: EVN) led gains among Australian gold miners, as spot gold price increased 1.9% over five days to US$1,366.33 an ounce.
In addition, the company’s joint venture with Emmerson Resources (ASX: ERM) intersected high-grade gold at the Edna Beryl West mine in the Northern Territory, according to a July 5 ASX statement.
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Weekly rise: 11.8% to $3.78
Share price movement past 12 months: down 5.5%
Independence Group (ASX: IGO), which mines gold and other metals, didn’t file any material statement to the stock exchange.
The group said two weeks ago that it had mined its first ore at the Nova Project in Western Australia, adding that the nickel-copper-cobalt project was 90% complete at the end of May, in line with its schedule to start producing nickel and copper concentrates this December.
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Weekly rise: 11.2% to $2.48
Share price movement past 12 months: down 13%
Nickel sulphide explorer Western Areas (ASX: WSA) didn’t submit any price-sensitive ASX announcement in the past two months.
The S&P/ASX 200 Materials Index advanced 2.8% over five days, the best-performing sector in the ASX 200.
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Saracen Mineral Holdings
Weekly rise: 11% to $1.66
Share price movement past 12 months: up 277.3%
Saracen Mineral Holdings (ASX: SAR) reported record gold production and cash flow for the financial year to June 30 (FY16).
The group’s FY16 gold output was 188,656 ounces – at the upper end of its guidance – while cash and bullion stood at $40.3m at the end of June, Saracen said in a statement last Thursday.
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What to watch this week
After a week of uncertainty surrounding the outcome of the Australian federal election result, Opposition leader Bill Shorten conceded defeat on Sunday as it became clear that a Malcolm Turnbull-led Coalition could form government.
The ASX 200 jumped 1.8% to 5,323.3 by 11:28am Sydney time on Monday.
Meanwhile, a number of key economic data will be released this week in Australia and overseas.
Locally, the focus is likely to be on the labour market, with June employment data out on Thursday.
“Figures have been somewhat patchy in recent months with the job market seemingly pausing for breath after out-sized increases in late 2015,” said CommSec.
“Overall we expect that the number of jobs rose by around 5,000 in June. And while the participation rate may have held steady at 64.8%, it is unlikely to stop the unemployment rate lifting modestly from 5.7% to 5.8%.”
Other Australian economic data includes May housing finance (Monday), credit and debit card lending (Tuesday) and June new vehicle sales (Thursday).
In the US, the highlights are monthly data on retail sales and consumer prices, both to be published on Friday, CommSec stated.
China, the world’s second-largest economy, will release data on June inflation, trade and broader economic indicators throughout the week, which may affect Australian share movements.
Top 5 share price falls
CIMIC Group (ASX: CIM) plunged 12.4% over the week to $31.50 after a large investment house published a research report on the construction company.
Austal (ASX: ASB), which manufactures commercial and defence ships, slipped 12% to $1.065. The company expects to post a loss before interest and tax of $116m to $121m in FY16, as a review of its completed US naval vessels required the group to modify the ship design, which will balloon construction costs.
Regenerative medicine company Mesoblast (ASX: MSB) dropped 8.1% to $1.14, after updating investors on its heart failure research project.
The company said an interim analysis to assess the phase 3 trial would cost US$13m, and that it’s set up an equity financing facility of up to $120m over three years to meet additional funding needs.
Last month, multinational drugs giant Teva Pharmaceutical Industries pulled out of its partnership with Mesoblast, resulting in funding cuts to the research.
Hotels and resorts operator Mantra Group (ASX: MTR) declined 7% to $3.20 after a large investment house released a research note on the company.
Magellan Financial Group (ASX: MFG) fell 6.5% to $20.76 in the absence of significant ASX announcement.