Australian stocks mounted in morningtrade on Tuesday, with the S&P/ASX 200 index added 0.48% to close at4,595.20. With all sectors trading good, retailers were showing some prominent gains as department-store operator Myer Holdings Ltd(ASX:MYR) gained0.47%
Myer Holdings Ltd’s freshly-selected chairperson Paul McClintock has stated that the retailer risks being sidelined in the fast-expanding internet retail segment if its online strategy does not start making results by this time coming year, in relation to The Australian.
Also the top gainer was Super Retail Group Ltd(ASX:SUL) which rose +0.52%. Super Retail Group Limited is a retailer of auto parts and accessories, tools and equipment. It had announced before that David Burns has been selected as the new CFO of the company. [article_detail_ad_1]
Iron-ore producers gaining on fresh iron-ore price strength included Mount Gibson Iron Limited(ASX:MGX)higher +7.43% whereas uranium producer Paladin Energy Ltd.(ASX:PDN)up +12.44% following an upgrade to buy from neutral at UBS.
Mount Gibson Iron Limited (ASX:MGX) closed at $0.795 with the total traded volume of 7.27 million shares beating the average volume of 3.44 million.
Its shares were trading within the range of $0.76-$0.80 while its opening price was $0.76. Its market capitalization is $863.15 million. Its stock price 52 weeks low was $0.62 and 52 weeks high price was $1.46.
Uranium producer Paladin Energy’s shares surged on Tuesday as a buoyant nuclear industry praised the election of a Japanese government anticipated to more quickly turn the reactors back on.
The conventional, pro-nuclear LDP is likely to implement a more hostile restart schedule after the Fukushima nuclear calamity of March 2011.
The disaster led to the closure of Japan’s reactors that signified 11% of international demand, as well as the closure of Germany’s nuclear plant.