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Australia’s All Ords makes small gain

Monday, January 21, 2013 by Bevis Yeo

The All Ords was down in midday trading before recovering to close up 7.5 points, or 0.2%, to 4,802.2. Dow Jones futures are up 6 points from the close of 13,583.

The All Ords was down in midday trading before recovering to close up 7.5 points, or 0.2%, to 4,802.2. Dow Jones futures are up 6 points from the close of 13,583.

Australian shares recovered from a midday fall with the All Ords closing up 7.5 points, or 0.2%, to 4,802.2 as strong offshore leads offset the lack of major local drivers.

The benchmark S&P ASX 200 trailed behind, gaining 6.3 points, or 0.1%, to 4,777.5.

U.S. markets hit new heights last Friday with the Dow Jones and the S&P 500 climbing to their highest levels since December 2007.

The big four banks were mixed with National Australia Bank (ASX: NAB) up $0.50, or 1.9%, to $26.85 while ANZ Bank (ASX: ANZ) put on $0.10, or 0.39%, to $25.69. Commonwealth Bank (ASX: CBA) slid $0.26, or 0.42%, to $62.20 while Westpac Bank (ASX: WBC) was down $0.11, or 0.41%, to $26.48.

Big miners made small gains with BHP Billiton (ASX: BHP) up $0.04, or 0.11%, to $36.54, Rio Tinto (ASX: RIO) gaining $0.10, or 0.15%, to $66.45 and Newcrest Mining (ASX: NCM) up $0.25, or 1.09%, to $23.25.

Energy companies were mixed with Beach Energy (ASX: BPT) down $0.125, or 8.59%, to $1.33 and Santos (ASX: STO) shedding $0.04, or 0.34%, to $11.74 while Woodside Petroleum (ASX: WPL) gained $0.01, or 0.03%, to $35.31.

Invictus Gold (ASX: IVG)
rocketed up $0.054, or 174.19%, to $0.085 following its release of assay results identifying significant high grade silver and associated gold anomalies at its Retro Extended prospect in Queensland.

The results confirmed the presence of a significant new 10 kilometre long mineralised system similar to that of the other major deposits in the Drummond Basin including the Pajingo Mining Centre, where over 4 million ounces of gold has been produced.

Drill intercepts at the Clermont Project include 4 metres at 1.7 grams per tonne (g/t) gold, 113g/t silver including 1 metre at 3.2g/t gold and 191g/t silver.

Cellmid (ASX: CDY) was up $0.001, or 4%, to $0.026, after it was granted a European patent covering the use of midkine inhibitors in the treatment of vascular occlusive disease, the obstruction of blood vessels.

This newest patent offers further intellectual property protection for Cellmid in the area of cardiovascular diseases and in midkine inhibitors.

Electric powered scooter and OEM manufacturer Vmoto (ASX:VMT, AIM:VMT) put on $0.003, or 14.29%, to $0.024 as it produced 1,000 more units than its initial forecasts of 6,000 units as part of its OEM contract with PowerEagle.

The company has installed and fitted new assembly lines in the manufacturing floor space of its Stage 2 manufacturing facility as it expands to meet the planned increased production target of 42,000 units of PowerEagle electric scooters this year.

Lithex Resources (ASX: LTX) gained $0.003, or 6.98%, to $0.046 as it moved to start a VTEM survey at its Munglinup Graphite Project in Western Australia and secured a graphite exploration licence in South Australia.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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