leadf
logo-loader

S&P/ASX 200 gains 1.77% as tech, financial stocks surge

Victoria reported 11 deaths and 439 new COVID-19 cases, with Daniel Andrews announcing tough $5000 on-the-spot fines for isolation breachers.

Fortescue Metals Group - S&P/ASX 200 gains 1.77% as tech, financial stocks surge
The Reserve Bank of Australia’s interest rate decision will be announced today

S&P/ASX 200 (INDEXASX:XJO) gained 1.77% to 6031 points at 12.38 pm with the tech and financial sectors performing strongly, up 3.8% and 2.3% respectively.

Retail sales for June rose 2.7% month-on-month on a seasonally adjusted basis, according to data released today by the Australian Bureau of Statistics.

This was higher than expectations of a 2.4% increase in a Reuters poll.

All-time highs

Shares in iron ore giant Fortescue Metals (ASX:FMG) reached $18.64 - lifting the company's market cap to $57 billion and Twiggy Forrest's stake to $20.8 billion.

Online retailer Kogan (ASX:KGN) lifted its share price to a record high of $19.32 and is still 2.79% higher at $18.76.

Loan deferrals

Australia’s banks and credit unions have given temporary repayment deferrals to $274 billion worth loans.

As of the end of June, 10% of all loans held by authorised deposit-taking institutions (ADIs) were in temporary deferral.

Of housing loans, about 11% or $195 billion are in deferral. However, the rate is much higher among loans to small businesses, with $55 billion or 17% of those in deferral.

Top gainers

Today’s top gainers on the ASX include Twenty Seven Co Ltd (ASX:TSC) (+20.00%), Brookside Energy Ltd (ASX:BRK) (+25.00%), Greenland Minerals Ltd (ASX:GGG) (+10.26%), Rimfire Pacific Mining N L (ASX:RIM) (+20.00%), Latin Resources Ltd (ASX:LRS) (+22.22%) and Walkabout Resources Ltd (ASX:WKT) (+13.79%).

Proactive news headlines:

Great Western Exploration identifies five new gold targets at Golden Corridor Project

Great Western Exploration Limited (ASX:GTE) has identified five new high-priority bedrock gold targets at Golden Corridor Project within the Wiluna fault zone after undertaking initial aeromagnetic and geophysical analysis.

Galena Mining begins extensive drilling campaign at Abra Base Metals Project

Galena Mining Ltd (ASX:G1A) has started a substantial drilling program at Abra Base Metals Project in Western Australia aimed at enhancing the base metals inventory as well as testing new gold-copper targets.

Cirralto sees FY21 as pivotal during repositioning as digital payments service provider to serve relatively untapped market

Cirralto Ltd (ASX:CRO) sees the 2020/21 financial year as being pivotal for the company as it transitions from a SaaS company to a digital payments service provider and experiences a marked step-up in customers using its Spenda suite of payment products.

Aeris Resources Cracow Gold Project ownership "progressing to plan" after first month

Aeris Resources Ltd (ASX:AIS) has enjoyed a smooth transition since completing the acquisition of the Cracow Gold Operations in Queensland on July 1 2020.

Bellevue Gold $20 million share purchase plan set to close this Friday

Bellevue Gold Ltd (ASX:BGL) will close its share purchase plan (SPP) to raise up to $20 million this Friday, August, at 5pm Perth time.

Mako Gold continues to deliver broad high-grade gold in Tchaga drilling

Mako Gold Ltd (ASX:MKG) has enhanced the golden bounty of its Napié Gold Project in Côte d’Ivoire through broad high-grade results from ongoing drilling at the Tchaga prospect.

High Peak Royalties encouraged by oil & gas developments in Amadeus Basin of Northern Territory

High Peak Royalties Ltd (ASX:HPR) is highly encouraged by developments within the Amadeus Basin, Northern Territory, where the company holds royalties in several oil & gas exploration and production licences.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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

Megado Gold has a full treasury as it prepares to list on the ASX and start...

Megado Gold Managing Director Michael Gumbley joined Steve Darling from Proactive Vancouver with news the company is preparing to list on the ASX in October. Gumbley talks about the company and their very experienced management team with a track record in Ethiopia. Gumbley also told Proactive...

7 hours, 41 minutes ago

3 min read