S&P/ASX 200 (INDEXASX:XJO) gained 0.65% to 6825 by 1.55 pm with the major miners, banks and energy firms higher.
Copper price, which is often viewed as a reliable gauge for near-term growth, traded above US$9,000 a tonne to a 9 1/2-year high.
The S&P 500 and Nasdaq in the US dropped overnight while the Dow edged up.
Run-up in US bond yields
The US Federal Reserve Chairman Jerome Powell will speak twice to Congress this week as part of a mandated semi-annual testimony.
Normally a non-event for the market, the central bank leader’s comments will be viewed closely this week for how he views this year’s run-up in bond yields.
The 10-year Treasury yield was at 1.367% and had risen as high as 1.394% on Monday.
Investors worry that too quick of a rise in bond yields might force the Fed to tighten policy too quickly, while a complacent Fed also would pose overheating risks.
Today’s top gainers on the ASX include Euro Manganese Inc (ASX:EMN) (+13.71%), Alicanto Minerals Ltd (ASX:AQI) (+8.00%), Elementos Limited (ASX:ELT) (+7.69%), PNX Metals Ltd (ASX:PNX) (+14.29%), Auteco Minerals Ltd (ASX:AUT) (+7.14%), Carnavale Resources Limited (ASX:CAV) (+14.29%) and Valor Resources Ltd (ASX:VAL) (+14.29%).
Proactive news headlines:
Tempest Minerals enlarges Messenger project with drilling imminent
Tempest Minerals Ltd (ASX:TEM) has increased its landholding at the Messenger Project in Western Australia with a new extension that covers the historic high-grade Messengers Patch gold production area.
Paradigm Biopharmaceuticals boosts finances with $3.38 million R&D tax refund from Australian Government
Astro Resources has busy work programs planned to advance gold in US and mineral sands and diamonds in Western Australia
Astro Resources NL (ASX:ARO) has busy work programs planned to advance the Needles Gold Project in the USA as well as the Governor Broome Minerals Sands Project and the Lower Smoke Creek Diamond Project, both in Western Australia.
White Rock Minerals signs term sheet with Thomson Resources to progress Mt Carrington Gold-Silver Project in NSW
White Rock Minerals Ltd (ASX:WRM) (OTCQX:WRMCF) has entered into a binding and exclusive term sheet with Thomson Resources Ltd (ASX:TMZ) for a three-stage earn-in and option to a joint venture agreement to progress the Mt Carrington Gold and Silver Project in northeast NSW.
PolarX gears up for a busy year with activities scheduled across Humboldt Range and Alaska Range
PolarX Ltd (ASX:PXX) (FRA:PX0) is focused on advancing its North American projects at Humboldt Range and Alaska Range this year, aiming to complete due diligence as well as start exploration at both projects.
Maximus Resources has drill spinning at priority Wattle Dam East nickel target in Western Australia
Maximus Resources Limited (ASX:MXR) (FRA:M5F) has begun drilling at the highly prospective Wattle Dam East nickel target within its Spargoville tenements, 25 kilometres from BHP Group Ltd’s (ASX:BHP) (NYSE:BHP) Kambalda Nickel Concentrator.
Euro Manganese secures EU-backed support to advance manganese project
Euro Manganese Inc (ASX:EMN) (CVE:EMN) (OTCMKTS:EROMF) (FRA:E06) has secured the support of European Union-backed knowledge and innovation organisation EIT InnoEnergy to accelerate integration of the Chvaletice Manganese Project in the Czech Republic into Europe’s battery supply chain.
Rumble Resources’ drilling expands large-scale gold-copper-silver system at Munarra Gully Project, WA.
Rumble Resources Ltd’s (ASX:RTR) (FRA:20Z) latest reconnaissance reverse circulation (RC) drilling and mapping program has expanded the large-scale gold-copper-silver system at Amaryllis Prospect within the Munarra Gully Project, Cue in WA's Mid-West.