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S&P/ASX 200 is off to a strong start as COVID-19 lockdown restrictions begin to ease

Travel retailer stocks have surged with Flight Centre up 12% and Webjet gaining 13%.

Archer Materials Ltd - S&P/ASX 200 is off to a strong start as COVID-19 lockdown restrictions begin to ease
Nearly every stock in the benchmark index is trading higher at noon

S&P/ASX 200 (INDEXASX:XJO) is outperforming major Asian markets today and is up 1.4% or 76 points to 5573 at 12.52 PM.

This follows a mixed lead from Wall Street where major US indices saw both small gains and losses on Friday.

Several sectors have gained more than 2% with healthcare, consumer discretionary, energy, industrials and IT among them.

As the lockdown is slowly being lifted in different states, travel retailer stocks have surged with Flight Centre (ASX:FLT) up 12% and Webjet (ASX:WEB) gaining 13%.

The miners managed small gains with BHP Group Ltd (ASX:BHP) rising 0.52% and Rio Tinto Limited (ASX:RIO) up 0.79% . Fortescue Metals Group Limited (ASX:FMG) rose 0.81%.

Top gainers

There were multiple stocks rising more than 10% including Nanoveu Ltd (ASX:NVU) (+47.06%), Archer Materials Ltd (ASX:AXE) (+34.58%), Kin Mining NL (ASX:KIN) (+11.54%), St George Mining Ltd (ASX:SGQ) (+17.98%), Great Southern Mining Ltd (ASX:GSN) (+11.69%), European Lithium Ltd (ASX:EUR) (+13.79%), Broken Hill Prospecting Ltd (ASX:BPL) (+27.78%), Moho Resources Ltd (ASX:MOH) (+17.65%) and Alice Queen Ltd (ASX:AQX) (+12.50%).

Proactive news headlines:

TNT Mines to acquire high-grade US uranium project as the metal price rallies 36% year to date

TNT Mines Ltd (ASX:TIN) has entered into a binding agreement to acquire Vanacorp Aust Pty Ltd which owns the East Canyon Uranium-Vanadium Project in Utah, US. The project comprises 200 unpatented lode claims prospective for uranium and vanadium in the Dry Valley/East Canyon mining district.

Southern Gold continues high work rate with drilling at South Korean projects

Southern Gold Ltd (ASX:SAU) is maintaining a high work rate at its South Korean gold projects with diamond drilling recently completed at the Beopseongpo project and new programs underway at the Deokon and Aphae projects. Two diamond rigs are operating and the company expects to maintain a high work rate throughout the year. Shares have climbed from 9 cents at close on March 13 to be trading at 16.5 cents today.

Volt Resources has exploration underway in Guinea section of world-class Birimian Gold Belt

Volt Resources Ltd (ASX:VRC) has begun exploration of its gold projects in the Siguiri Basin of Guinea, which forms part of the richly mineralised West African Birimian Gold Belt. The initial exploration will start at Konsolon permit and include systematic soil sampling combined with mapping and sampling of artisanal mining pits and shafts.

Fe Limited adding $7 million to bank balance after iron ore royalty interest sale is approved

Fe Limited (ASX:FEL) is set to add $7 million in cash to its bank balance after shareholders on Friday approved the sale of FEL’s Evanston royalty interest over a portion of the Koolyanobbing Iron Ore Mine in WA. When put to the vote at an extraordinary general meeting, there were more than 184 million votes for the sale recommendation and just 183,821 against. Approval of shareholders was one of the conditions of a sale and purchase agreement with TRR Services Australia Pty Ltd, a subsidiary of Trident Resources PLC (LSE:TRR).

Alto Metals fields competing takeover proposal from Habrok

Alto Metals Ltd (ASX:AME) has received a proposal from privately-owned Habrok (Alto) Pty Limited to make an off-market takeover offer for all of AME’s shares for 6.6 cents per share. This proposal is in competition with the offer from Goldsea Australia Mining Pty Ltd of 6.5 cents per share which was recommended for acceptance by the Alto Metals board.

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