logo-loader

S&P/ASX 200 forges ahead with 1.82% gain as US futures climb

S&P/ASX 200 has now regained about $390 billion of the $830 billion shed during the February and March bloodbath.

Argonaut Resources NL - S&P/ASX 200 forges ahead with 1.82% gain as US futures climb
Weekly consumer confidence has lifted for an eighth consecutive week, up 0.4% to 92.7 points.

S&P/ASX 200 (INDEXASX:XJO) surged to 5718 at 1 PM with property, tech, energy, communications, industrials and consumer discretionary sectors each more than 2% higher.

Financials are also contributing to market moves with the big four banks all lifting. The Commonwealth Bank (ASX:CBA) is 1.5% higher while the remaining big banks are at least 3% firmer.

While Wall Street had been shut on Monday, E-Mini futures for the S&P 500 climbed 1.3% to test the 3,000 level. Investors are looking past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy.

S&P/ASX 200 has now regained about $390 billion of the $830 billion shed during the February and March bloodbath.

Coca-Cola Amatil Ltd (ASX:CCL) has had a mixed session so far after providing a trading update at its virtual AGM. The drinks major saw sales impacted heavily in April due to COVID19 lockdown restrictions.

Weekly consumer confidence has lifted for an eighth consecutive week, up 0.4% to 92.7 points. However, it should be noted that a number below 100 denotes more pessimists than optimists.

Top gainers

Top gainers on the ASX today include Meteoric Resources NL (ASX:MEI) (+10.00%), Whitebark Energy Ltd (ASX:WBE) (+20.00%), Argonaut Resources NL (ASX:ARE) (+20.00%), Argosy Minerals Limited (ASX:AGY) (+15.62%) and Volt Resources Ltd (ASX:VRC) (+37.50%).

Proactive news headlines

Blackham Resources higher as ‘outstanding’ drill results confirm Wiluna sulphide strategy

Blackham Resources Ltd (ASX:BLK) has been up to 22% higher after receiving high-grade gold results from resource development drilling at the Wiluna Gold Project which confirm the company's sulphide strategy. The drilling which returned up to 14.45 metres at 17.16 g/t from 18.95 metres, including 7.45 metres at 31.22 g/t at Bulletin lode was designed to increase confidence in sulphide resources from inferred to the indicated category.

Altech Chemicals buoyed by tests showing 4N HPA is critical for lithium-ion battery safety

Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) is buoyed by the results of high purity alumina (HPA) research activities that confirm 4N high purity alumina (HPA) is critical for lithium-ion battery safety and performance. In fact, the internationally-renowned FraunhoferGesellschaft research organisation shows that the use of lower quality alumina (sub-4N) and boehmite as a coating material for battery separators present potentially serious battery safety risks.

Bardoc Gold hits broad high-grade gold outside ore reserves at Zorastrian

Bardoc Gold Ltd (ADX:BDC) has received broad gold results from three recent diamond holes which confirm the continuity of high-grade mineralisation outside probable ore reserves at Zorastrian deposit within the Bardoc Gold Project in WA. Notable results include 15.2 metres at 3.75 g/t from 228.3 metres, including 5.1 metres at 10 g/t from 237.1 metres; 11.2 metres at 7.29 g/t from 235.5 metres; 8.8 metres at 4.3 g/t from 317 metres; and 24 metres at 2.05 g/t from 285 metres.

Matador Mining now largest continuous landholder along highly prospective Cape Ray Shear

Matador Mining Ltd (ASX:MZZ) has become the largest continuous landholder along the gold prolific Cape Ray Shear in Newfoundland, Canada, by increasing its landholding to more than 120 kilometres of continuous strike. This consolidation of five additional mineral licences has provided a 50% increase in ground along the shear and brings Matador’s total holding in Newfoundland to 425 square kilometres.

Twenty Seven Co results confirm strongly anomalous gold and base metal zones at Rover

Twenty Seven Co Ltd (ASX:TSC) has verified the discovery of strongly anomalous gold and base metal zones at Rover Project in WA following recent drill testing of four bedrock conductors. Results from the inaugural drill hole at the 600-metre-long Red Bush target intersected 12 metres at 0.15 g/t gold, associated with strongly anomalous arsenic and confirming a zone of gold 7 kilometres southeast of Creasy-1.

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Australian Vanadium confirms ‘exceptional’ vanadium extraction in test work

Australian Vanadium Ltd (ASX:AVL) (OTCMKTS:ATVVF) managing director Vincent Algar speaks to Proactive about recent pilot test-work conducted at the Australian Vanadium Project, which delivered leach extraction of up to 94.7%. The pilot-scale roast and leach testing has confirmed the...

1 day, 22 hours ago

4 min read