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The S&P/ASX 200 Index rose 1.2 per cent to 7280.40. MA Financial sank 10.7 per cent to $4.42 and Fortescue Metals rose 2.8 per cent to $22.92.
Australian shares open 0.7pc higher; Gold Road meets Gruyere guidance; Perpetual-Pendal deal becomes legally effective; MA Financial downgrades earnings guidance. Follow updates here.
The Gruyere joint venture in Western Australia has produced a record 85,676 ounces of gold (100 per cent basis) during the June quarter.