S&P/ASX 200 in the green as consumer confidence hits 13-week high

Gold rose 1% to US$1,878.33 per ounce yesterday, erasing early losses as the US dollar retreated from a two-month peak ahead of the US presidential debates this week.

Galileo Mining Ltd -
Brent crude settled 1.22%, higher at US$42.43 per barrel as global equities rallied on hopes for another US stimulus package

S&P/ASX 200 (INDEXASX:XJO) is trading just above the flatline at around 1.50 pm as the weekly ANZ-Roy Morgan consumer confidence rating rose by 1.2% to a 13-week high of 93.5.

Confidence has increased in five of the past six weeks. It is up by 43.2% since hitting record lows of 65.3 on March 29 (long-run average since 1990 is 112.6).

Banks and miners fall

The S&P/ASX 200 rose by as much as 0.7% per cent at open but has handed back most of its early gains as the big banks joined the miners in the red.

Financial stocks fell with all the big four banks in the red. BHP Group Ltd (ASX:BHP) was 0.7% down and Rio Tinto (ASX:RIO) was 1.2% lower.

Retail sales data

The Kepler index of retail sales reported that aggregate sales in Australia rose by 8.8% last week (September 20), but was still down 27.3% on the year.

Average transaction value fell by 1.9% last week but was still up 28.6% on a year ago.

Top gainers

Today’s top gainers on the ASX include Altech Chemicals Ltd (ASX:ATC) (+12.28%), Paradigm Biopharmaceuticals Ltd (ASX:PAR) (+15.77%), Blue Star Helium Ltd (ASX:BNL) (+12.12%), Ioneer Ltd (ASX:INR) (+25.00%), Corazon Mining Ltd (ASX:CZN) (+50.00%), Piedmont Lithium Ltd (ASX:PLL) (+38.18%) and Pure Minerals Ltd (ASX:PM1) (+16.67%).

Proactive news headlines:

Musgrave Minerals encouraged by 33% lift in copper resource at Hollandaire JV project to 51,500 tonnes

Musgrave Minerals Ltd (ASX:MGV) is encouraged by a 33% increase in copper resources at the Hollandaire copper-gold joint venture project with Cyprium Metals Ltd (ASX:CYM) to 51,500 tonnes.

Galileo Mining’s broad intersections expand Lantern South nickel-copper footprint

Galileo Mining Ltd (ASX:GAL) has received broad intersections in drilling at the Lantern prospect within Western Australia’s Fraser Range Nickel Belt that expand the Lantern South nickel-copper footprint.

Red River Resources boosts gold resource at Hillgrove to 692,000 ounces

Red River Resources Limited (ASX:RVR) has increased the mineral resource for Hillgrove Gold Project in northern NSW to 692,000 ounces of gold and 75,000 tonnes of antimony after updating the Syndicate Lode resource estimate.

Alto Metals new Orion Lode at Sandstone delivers more high-grade gold results of up 29 metres at 3.5 g/t

Alto Metals Ltd (ASX:AME) has delivered more high-grade gold results in final assays from a recently completed 5,562-metre reverse circulation (RC) drill program at the new Orion Lode discovery of Sandstone Gold Project in WA, including up to 29 metres at 3.5 g/t from 49 metres.

Mako Gold to hit the ground running at newly granted Korhogo Nord permit in Côte d’lvoire

Mako Gold Ltd (ASX:MKG) will begin exploration in around a month after the Ministry of Mines in Côte d’lvoire granted a permit for the Korhogo Nord project, which is within 30 kilometres of Barrick Gold Corp’s (NYSE:GOLD) 4.9-million-ounce Tongon Gold Mine.

Paradigm Biopharmaceuticals extends exclusive supply agreement with bene pharmaChem

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has extended its exclusive licence and supply agreement with bene pharmaChem, which remains the only FDA approved manufacturer and supplier of Pentosan Polysulphate Sodium (PPS).

FYI Resources to begin detailed development trials as HPA strategy progresses

FYI Resources Ltd (ASX:FYI) (FRA:SDL) has started a detailed high purity alumina (HPA) development trial using its pilot plant targeting flowsheet and process improvements.

Meteoric Resources well-positioned to benefit from strong gold market

Meteoric Resources Ltd (ASX:MEI) is well-positioned to benefit from a strong gold market while actively exploring its highly prospective Brazilian and Western Australian projects.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


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...


Ora Banda Mining anticipating its first gold bar by the end of January

Ora Banda Mining Ltd's (ASX:OBM) David Quinlivan talks Proactive's Andrew Scott through its December quarterly update. He says they've now begun wet commissioning of the plant and will be progressively commissioning over the coming weeks with a view of getting the first gold bar out by the end...

12 hours, 49 minutes ago

4 min read