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S&P/ASX 200 remains flat as banks and miners weigh on the market

Gold is steady at US$1,860.19 per ounce after the US dollar rally took a pause as political uncertainty builds ahead of the US presidential election.

FYI Resources Ltd - S&P/ASX 200
Oil declined on Friday to post its third negative week in four on demand concerns

S&P/ASX 200 (INDEXASX:XJO) is flat at 5965 points by around 1.55 pm following a 1.5% surge on Friday and a strong lead from Wall Street.

The number of new COVID-19 cases in Australia continues to decline, with just five new cases identified in Victoria and no new cases for the second day in NSW.

Travel stocks including Webjet (ASX:WEB), Flight Centre (ASX:FLT) and Qantas (ASX:QAN) gained due to encouraging developments around COVID-19.

However, the major banks are down by as much as 1% following gains of between 3% to 7.4% on Friday after the Federal Government revealed plans to ease responsible lending rules which were introduced in 2009.

Top gainers

Today’s top gainers on the ASX include FYI Resources Ltd (ASX:FYI) (+26.32%), Pharmaxis Ltd. (ASX:PXS) (+9.52%), Cauldron Energy Ltd (ASX:CXU) (+26.32%), Golden State Mining Ltd (ASX:GSM) (+9.30%), Macarthur Minerals Ord Shs (ASX:MIO) (+18.10%), Andromeda Metals Ltd (ASX:AND) (+9.68%), Vrx Silica Ltd (ASX:VRX) (+10.71%) and Piedmont Lithium Ltd (ASX:PLL) (+53.33%).

Proactive news headlines:

MGC Pharmaceuticals expands ArtemiC™ phase II clinical trial on COVID-19 patients in Israel and India

MGC Pharmaceuticals Ltd (ASX:MXC) has expanded a phase II double-blind, placebo-controlled clinical trial to evaluate the safety and efficacy of the natural anti-inflammatory formulation ArtemiC™ on patients diagnosed with COVID-19.

Fe Limited appoints experienced iron ore executive to drive new projects into production

Fe Limited (ASX:FEL) (FRA:B4T) has appointed an experienced iron ore executive as projects director to help drive the company’s two new iron ore asset acquisitions into production.

Blue Star Helium acquires strategically significant acreage within highly prospective region of Colorado

Blue Star Helium Ltd (ASX:BNL) (OTCMKTS:AZZEF) has acquired an additional 22 new leases over 34,848 gross acres within the highly prospective Las Animas region in Colorado, USA.

Core Lithium returns visible gold and grades over 100 g/t in rock chips at Bynoe Gold Project

Core Lithium Ltd (ASX:CXO) has received gold grades of up to 106.5 g/t and observed visible gold in rock chips at the newly defined Covidicus West prospect of the Bynoe Gold Project in the Northern Territory.

Paradigm Biopharmaceuticals has clear path towards Zilosul® OA Phase 3 clinical trial and product registration in Europe

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has received positive feedback from a European Medicines Agency (EMA) scientific advice meeting which provides a clear path forward to registration for Zilosul® in Europe.

Musgrave Minerals extends White Light lode and identifies potential new parallel zone

Musgrave Minerals Ltd (ASX:MGV) has received further strong results for the remaining reverse circulation (RC) and diamond drill holes at the new Starlight and White Light gold discoveries at Break of Day, on the company’s flagship Cue Gold Project in Western Australia’s Murchison district.

Cipherpoint closes strongly supported pro-rata rights issue to raise more than $1.458 million

Ciphepoint Ltd (ASX:CPT) has closed a strongly supported non-renounceable pro-rata rights issue offer which raised in excess of $1.458 million.

Latin Resources steps-up with drilling planned at gold and halloysite projects in exploration hotspots

Latin Resources Ltd (ASX:LRS) (FRA:XL5) is making significant progress with ongoing exploration activities at gold and halloysite-kaolin projects in current Australian exploration hotspots.

Rimfire Pacific raises $2.1 million for exploration in Lachlan Fold Belt in NSW

Rimfire Pacific Mining NL (ASX:RIM) has received firm commitments for $2.1 million through a placement to fund ongoing exploration in the prolific Lachlan Fold Belt in central New South Wales.

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