Top 5 market gainers of the day:
• Whitehaven Coal Ltd (ASX:WHC) rose by 9.5% to the day’s high of AU$1.38. The stock has gained due to a rise in coal prices since early April, underpinned by Chinese demand and some tightening of global supply.
• The stock of food & beverages company Treasury Wine Estates Ltd (ASX:TWE) surged just over 7% to AU$10.98. Treasury Wine Estates on Thursday said that it expected FY21 earnings before interest, tax to be AU$495 million.
• Jefferies has raised Treasury Wine Estates' price target to AU$13 from AU$12.00 and retained ‘buy’ rating after its financial update on Thursday.
• The stock of the mining company Perenti Global (ASX:PRN) surged nearly 6% to the intra-day high of AU$0.73. The stock gained after global brokerages said that the supportive economic environment and the company’s strong balance sheet will support its growth ambitions in the medium term.
• The stock of the mining firm Champion Iron Ltd (ASX:CIA) rose above 4% to the day’s high of AU$7.30. The stock surged on rising iron ore prices. The prices of the commodity scaled new records during the week to reach around $US240 a tonne. It was more than double Western Australia (WA) Treasury's mid-year revised 2020–21 iron ore price assumption of US$104.