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.
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.
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.
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
Bellevue Gold $20 million share purchase plan set to close this Friday
Mako Gold continues to deliver broad high-grade gold in Tchaga drilling
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.