The ASX 200 made a positive start to the week, rising by 0.22%.

The mining sector was the clear winner today, rising by 3% while other sectors seesawed between gains and losses.

Consumer Discretionary was the biggest drag on the broad index, down 1%.

Mining stocks were moving higher after iron ore prices continued to bounce off their recent lows on Friday night.

The sector was also boosted by Fortescue Metals (ASX:FMG)’s strong earnings released today.

Fortescue jumped by over 6% after its full year profit surged by 117% to US$10.3 billion. The company also doubled its full year dividend to $2.11 in a record year.

Other miners like Rio Tinto (ASX:RIO), South32 (ASX:S32), and Orocobre (ASX:ORE) also rose on positive sentiment.

 

BIG CAP WINNERS

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Battery tech company Novonix (ASX:NVX) zoomed 16% on no news.

Other notable winners today include funeral home operator InvoCare (ASX:IVC), which rose by 8% after reporting a $44m half year profit vs an $18m loss a year earlier. The company reported a 9.5 a share dividend, however it said that COVID-19 lockdowns will still weigh on its near term outlook.

Retailer Temple & Webster (ASX:TPW) rose 10% after reporting an 85% increase in revenue to $326m, for an EBITDA of $20.5m, a 141% increase year-on-year.

 

 

BIG CAP LOSERS

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Altium (ASX:ALU) dropped 14% despite meeting its profit guidance. The company reported a 1% increase in revenue to US$191.1m compared to guidance of US$190-195m.

Big data company Nuix (ASX:NXL) dropped almost 10% after its full year revenue of $176m came in at the middle end of its downgraded forecast of $172m-$178m range. The company also went from a from a $23.6 million profit to a $1.6 million loss.

Booktopia (ASX:BKG) fell by almost 6% despite its full year revenue rising 35% to $223.9 million.