leadf
logo-loader

S&P/ASX 200 gives up early gains but miners and tech stocks rebound

Spot gold climbed 0.4% to US$1,951.13 per ounce as weak U.S. jobs data and stimulus hopes increased its appeal.

Arafura Resources Ltd - S&P/ASX 200 gives up early gains but miners and tech stocks rebound
Stocks in other Asia-Pacific markets mostly traded higher in Friday morning trade

S&P/ASX 200 (INDEXASX:XJO) surged on the open to an intraday high of +0.65% but has since dropped 5 points or 0.085% to 5878 by 12.40 pm.

This follows a weaker session on Wall Street overnight where tech stocks were again among the major decliners dragging the NASDAQ lower by 1.3%.

However, Australia’s tech sector has rebounded from yesterday’s heavy falls with Afterpay (ASX:APT) up 1.5% while Xero (ASX:XRO) gained 1.4%.

The major miners are also rising despite another drop in iron ore prices overnight with BHP Group (ASX:BHP) gaining 1.39% and Rio Tinto (ASX:RIO) rising 1.79%.

COVID-19 update

The global count of known COVID-19 cases surpassed 30 million on Thursday and global fatalities crept closer to one million, both signs of the virus' continuing global impact.

The WHO said cases are surging again in Europe, with more than half of European countries seeing a 10% or greater increase in cases in the past two weeks.

In Australia, New South Wales recorded six new COVID-19 cases and Victoria recorded 45 cases and five deaths in the past 24 hours.

Top gainers

Today’s top gainers on the ASX include Altech Chemicals Ltd (ASX:ATC) (+17.95%), Netlinkz Ltd (ASX:NET) (+10.14%), Euro Manganese Inc CDI (ASX:EMN) (+8.00%), Cirralto Ltd (ASX:CRO) (+10.34%), Carnavale Resources Limited (ASX:CAV) (+9.09%), Artemis Resources Ltd (ASX:ARV) (+9.52%), PNX Metals Ltd (ASX:PNX) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+16.67%), Piedmont Lithium Ltd (ASX:PLL) (+15.38%), FYI Resources Ltd (ASX:FYI) (+43.48%), Brookside Energy Ltd (ASX:BRK) (+20.00%) and Lake Resources N.L. (ASX:LKE) (+10.71%).

Proactive news headlines:

Artemis Resources begins Carlow Castle diamond drilling as it targets 1 million gold ounces

Artemis Resources Ltd (ASX:ARV) (OTCMKTS:ARTTF) has started diamond drilling at Carlow Castle Gold Project in the West Pilbara region of WA as part of Project One Million targeting resources of 1 million ounces.

Greenland Minerals confident Kvanefjeld project can help meet long-term demand for rare earths

Greenland Minerals Ltd (ASX:GGG) is confident its Kvanefjeld project in Greenland is well-placed to take advantage of the long-term robust outlook for rare earth elements (REEs).

Arafura Resources' high-quality Nolans rare earth products validated by supply chain partners

Arafura Resources Ltd’s (ASX:ARU) final rare earth oxide (REO) products from the Nolans project flowsheet piloting program have been validated by supply chain partners across the globe, including Europe, China and Japan.

Netlinkz approaching key milestone of turning cashflow positive

Netlinkz Limited (ASX:NET) is approaching a key milestone of turning cashflow positive as business development initiatives begin to take hold in various markets and other markets show encouraging signs.

MMJ Group well-placed to capitalise on continuing cannabis opportunities

MMJ Group Holdings Ltd (ASX:MMJ) (OTCMKTS:MMJJF) believes that the current market and industry sentiment surrounding cannabis companies create investment opportunities in Canada and other countries at attractive valuations and prices.

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...

In exchange for publishing services rendered by the Company on behalf of Arafura Resources Ltd named herein, including the promotion by the Company of Arafura Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Trump Vs Biden debate: Market reaction, corporate support and future predictions

Neil Wilson from Markets.com joins Proactive London's Katie Pilbeam following the U.S. President Donald Trump and Democratic rival Joe Biden debate on Thursday night. With 47 million Americans already voted - do the markets even care? Wilson says there was 'no killer blow' which would explain...

2 days, 11 hours ago

3 min read