Southern Cross Media the big winner: Afternoon market insights

The Australian market rose strongly after opening today, finishing up over 1% with all industry sectors moving higher.

The S&P/ASX200 was up by 1.15% or 48.2 points to 4244.90.

The All Ordinaries Index was also up 1.06% or 45.4 points to 4333.60.

The day’s winners

Southern Cross Media Group (ASX: SXL) was up 5.04 % to $1.355 at 3.20pm today. Southern Cross is Australia’s leading regional media provider, with the ability to reach about 95% of Australia’s rural population across its radio and television network.

Energy Resources of Australia (ASX: ERA) was up 6.64% to $1.285. ERA is one of the largest uranium producers in the world and operates the Ranger Uranium Mine in the Northern Territory, which supplies uranium to nuclear power stations in Asia, Europe and the United States. Rio Tinto owns 68.4 % of ERA.

The day’s losers

Saracen Mineral Holdings (ASX: SAR) was down 6.56% to $0.57.

Saracen is an Australian gold miner with operations North-East of Kalgoorlie in Western Australia.

Intrepid Mines (ASX: IAU) was down 3.98% to $0.91.

Sector mover

The biggest sector winner was again the S&P/ASX All Information Technology (Sector) index which rose 1.76% or 8.9 points to 514.5.

The weakest sector was the S&P/ASX 200 Energy (sector) which was up 0.13% or 19.1 points to 14176.8.

Currency

The Australian dollar recovered today after its falls overnight. One Australian dollar was buying $USD1.055 this afternoon at 3.40pm.

Asian markets

Japan – NIKKEI 225 was up 0.92% or 91.45 points to 9981.31.

Hong Kong – Hang Seng was up 1.26% or 266.20 points to 21400.40