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S&P/ASX 200 dives 0.71% to near three-month low as tech-led selloff continues in the US

Gold prices rose on Friday to a second straight weekly gain, as the dollar weakened and concerns about a delayed economic recovery due to the COVID-19 crisis lingered on.

Creso Pharma Ltd - S&P/ASX 200
Oil jumped more than 10% last week following a decline in US inventory

S&P/ASX 200 (INDEXASX:XJO) dived 0.71% to 5823 after remaining relatively flat till about 11.30 am with the major banks and big miners weighing down the index towards lunch.

This followed a weak lead from the US as Wall Street fell at the end of the week due to a tech-led selloff.

Australia and New Zealand Banking GrpLtd (ASX:ANZ) led the declines for the major banks, down 1.7% to $16.78.

Miners BHP Group Ltd (ASX:BHP) fell 1.06%, Rio Tinto (ASX:RIO) shed 1.28% and Fortescue Metals (ASX:FMG) dropped 2%, extending its monthly loss to 7.6%.

COVID-19 update

The news just keeps getting better for Victoria as the state recorded just 11 new COVID-19 cases – marking the 11th consecutive day the state has recorded a daily infections number of below 50.

Victoria’s 14-day average is expected to dip below five cases a day within a fortnight – opening a window of opportunity for Melbourne to be reopened.

New South Wales recorded four new COVID-19 cases, three of which are in hotel quarantine and one linked to the Concord Hospital cluster.

Top gainers

Today’s top gainers on the ASX include Creso Pharma Ltd (ASX:CPH) (+15.15%), Carnavale Resources Limited (ASX:CAV) (+9.09%), Macarthur Minerals (ASX:MIO) (+9.89%), Highfield Resources Ltd (ASX:HFR) (+9.62%), MGC Pharmaceuticals Ltd (ASX:MXC) (+8.70%), Oakdale Resources Ltd (ASX:OAR) (+13.04%), Artemis Resources Ltd (ASX:ARV) (+15.00%), PNX Metals Ltd (ASX:PNX) (+11.11%), Ironbark Zinc Limited (ASX:IBG) (+9.09%), Fe Limited (ASX:FEL) (+16.67%), FYI Resources Ltd (ASX:FYI) (+19.35%) and Brookside Energy Ltd (ASX:BRK) (+20.00%).

Proactive news headlines:

AVZ Minerals lifting equity stake in Manono Lithium and Tin Project to 75%

AVZ Minerals Ltd (ASX:AVZ) has executed a share purchase agreement (SPP) to secure an additional 10% of Dathcom Mining SA from its JV partner, Dathomir Mining Resources SARLU, the 100% holder of the Manono Lithium and Tin Project in the DRC.

Anson Resources targets high-grade base metals at Ajana project in WA

Anson Resources Ltd’s (ASX:ASN) recent review of historical and recent exploration data at the Ajana project in Western Australia has identified multiple high-grade zinc, copper, lead and silver exploration targets.

Twenty Seven Co to drill new gold targets at Rover in WA Goldfields

Twenty Seven Co Ltd (ASX:TSC) has a drill contractor mobilising to site at the Rover Project in Western Australia to undertake a 1,800-metre reverse circulation (RC) drilling program.

Nelson Resources survey identifies gold drill targets at Woodline project

Nelson Resources Ltd (ASX:NES) has used an ultra-high-resolution ground magnetics survey to identify new gold drilling targets at Redmill and Grindall prospects within the flagship Woodline Gold Project in WA.

Great Southern Mining intersects new gold up to 1-kilometre along strike at Cox’s Find

Great Southern Mining Ltd (ASX:GSN) has intersected gold mineralisation in phase-two reverse circulation (RC) drilling up to 1-kilometre along strike at the Cox’s Find project in WA’s Laverton Gold District.

Kingwest Resources completes $4.3 million capital raising to boost gold exploration

Kingwest Resources Ltd (ASX:KWR) has completed a fully underwritten non-renounceable 1-for-5 entitlement offer at an issue price of 13.5 cents per share to raise $3.3 million as part of a $4.3 million capital raising.

Lithium Australia divests Emu Lake to Metal Hawk as renewed quest for lithium begins

Lithium Australia NL (ASX:LIT) has partially divested its Emu Lake Project north of Kalgoorlie, Western Australia, to unlisted public company Metal Hawk Ltd as part of its exploration management strategy.

MGC Pharmaceuticals sets sights on being one of first cannabis-related companies listed on London Stock Exchange

MGC Pharmaceuticals Ltd (ASX:MXC) (OTCMKTS:MGCLF) (FRA:H5O) welcomes new guidance from the Financial Conduct Authority (FCA) on its approach to assessing applications from cannabis-related companies for listing on the London Stock Exchange (LSE).

Creso Pharma secures first retail order from Nova Scotia provincial government’s distributor NLSC

Creso Pharma Ltd’s (ASX:CPH) (FRA:1X8) wholly-owned subsidiary Mernova Medicinal Inc has received an initial purchase order (PO) worth C$180,000 from the Nova Scotia Liquor Corporation in Canada for two of its premium strains, HPG13 and Lemon Haze.

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