BN30 reaches record high

A strong run over the past month from listed companies Mineral Resources, Woodside Petroleum and Seven Group Holdings has helped push the Business News index of 30 local stocks to a record high this week.

The BN30, which was launched by Business News at the start of 2016, moved from 142.68 on September 10 to reach its highest mark of 150.47 yesterday.

The index also registered a strong run of growth in April, peaking at 148.99 on May 17, before plateauing at about 145 until the recent run-up in September.

Since September 12, shares in Chris Ellison-led MinRes have surged 12.4 per cent, boosting the BN30 by about 1.3 points, while a 5.3 per cent uptick in oil and gas outfit Woodside shares have brought the index up 1.4 points.

The BN30 reached an all-time yesterday. 

Shares in Kerry Stokes-led Seven Group have risen 7.9 per cent, lifting the BN30 1.2 points.

Other contributors included engineering group Monadelphous, whose share price increased 9.2 per cent, and copper miner Sandfire Resources (13.5 per cent).

Conglomerate Wesfarmers provided the biggest drag on the BN30 during the four-week period due to a 4.5 per cent fall in its share price.

Medicinal cannabis company Auscann Group Holdings has suffered a 9.2 per cent decline in its share price.

To see full details, go to https://www.businessnews.com.au/asx-chart/bn30?timeframe=182