CAPITAL MARKETS

Markets 'kept their nerve'

Ausdrill among market risers on ASX

Staff Reporter

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Asian markets "kept their nerve" as data out today showed the Chinese economy slowed at the end of last year, Reuters reported.

It said China's economy grew 6.4% in the fourth quarter from a year earlier, as had been expected and matching levels last seen in early 2009 during the global financial crisis, but said there were bright spots including industrial output rising 5.7% and retail sales up 8.2%.

Mining and services company Ausdrill (ASX: ASL) was among the bigger movers on the ASX, gaining 5% in late trade after outlining it had secured US$123 million (A$171 million) in new work.

Diversified miner Independence Group (ASX: IGO) was almost 4% higher on no news.

However Australian gold miners slid along with the precious metal price, which has softened to around US$1,280 an ounce on the spot market.

St Barbara (ASX: SBM) was down about 3%, Regis Resources (ASX: RRL) was off 2.45% and Northern Star Resources (ASX: NST) down 2.27% at the time of writing.

Meanwhile US president Donald Trump has come up with a plan to end the government shutdown, while British prime minister Theresa May is set to present parliament with a "Brexit Plan B" later today.

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