S&P/ASX 200 (INDEXASX:XJO) has dropped 0.60% to 6,089 by 12.38 pm with the big four banks the biggest drag on the index.
Japan in recession
The Japanese economy shrank 27.8% on an annualized basis in April-June, according to government data released today.
This is Japan’s sharpest contraction on record, according to Reuters.
The 27.8% drop in the second-quarter gross domestic product was worse than economists’ median estimate of a 27.2% decline.
Victoria has recorded its worst daily death toll since the pandemic began, losing another 25 people to COVID-19.
282 new cases were detected in the state in the last 24 hours. NSW recorded five new cases and another death, while South Australia confirmed one new case.
There has been an average of 52,388 new COVID-19 cases per day in the US over the past week, a decrease of 16% from the average two weeks earlier.
Today’s top gainers on the ASX include Archer Materials Ltd (ASX:AXE) (+14.13%), Rimfire Pacific Mining NL (ASX:RIM) (+16.67%), Eclipse Metals Ltd (ASX:EPM) (+33.33%), Southern Gold Limited (ASX:SAU) (+10.71%), Linius Technologies Ltd (ASX:LNU) (+16.67%) and Kingwest Resources Ltd (ASX:KWR) (+14.29%).
Proactive news headlines:
Lithium Australia subsidiary converts waste into high performance lithium-ion battery cathodes
Jindalee Resources at 9-year high on further encouraging lithium test results from McDermitt project
Graphex Mining delivers more high-grade gold results and confirms resource continuity at Tabakorole
Pantoro launches $5 million share purchase plan to advance Norseman Gold Project
Eclipse Metals prepares to begin Mary Valley Manganese Project diamond drilling next month
Eclipse Metals Ltd (ASX:EPM) plans to begin a stage-2 diamond drilling program next month at Mary Valley Manganese Project in Queensland designed to extend high-grade mineralisation intersected during initial exploration drilling in 2018.
DomaCom has Senior Equity Release downsizer contributions confirmed by ATO
DomaCom Australia Ltd (ASX:DCL) is higher after the Australian Tax Office (ATO) confirmed that a part disposal of a person’s home can be made to make a ‘downsizer’ contribution.