USP&E Specializes in Australian Mining Power Plant supply, installation and maintenance.
Sydney-listed mining companies are riding high along with commodity futures, although analysts will likely be watching upcoming quarterly production reports for future performance cues.
On Thursday, Rio Tinto Ltd. (RIO: 64.04 ,0.00 ,0.00%) shares gained 3.5%, BHP Billiton Ltd. (BHP: 81.97 ,0.00 ,0.00%) shares climbed 1.9% and Newcrest Mining Ltd. (NCMGF) shares rose 3.1%.
The advance helped the S&P/ASX 200 index climb 1.6%. Across Asia, it was a similar story, with metal stocks on the move in Japan, helping the Nikkei 225 index climb 1.8%.
Meanwhile, Hong Kong’s Hang Seng Index , and Korea’s Kospi Index each rose 0.8%, while the Shanghai Composite Index rose 1.5%, and the Singapore Strait Times index rose 0.4%.
The metals and mining sector has lately been buoyed by a relentless rise in metal futures, with investors heading into commodities on expectations that the U.S. Federal Reserve will ease policy further, and that Chinese demand for commodities will continue.