S&P/ASX 200 (INDEXASX:XJO) is off to a great start to October by rising 95 points or 1.62% to 5910 by about 12.45 pm.
This follows a positive lead from Wall Street which rallied yesterday on hopes of US Congress getting closer to another stimulus package to help boost the economy.
Iron ore rallies
Iron ore prices surged 5% overnight on hopes of increased demand following China's Golden Week holidays, which run from October 1 to October 8.
BHP Group Ltd (ASX:BHP) rallied 2.87% to $36.62, Rio Tinto (ASX:RIO) rose 2.47% to $96.65 and Fortescue Metals (ASX:FMG) surged 3.13% to $16.81.
Home prices data
The CoreLogic Home Value Index of national home prices fell by just 0.1% in September compared to last month. However, prices are up 4.8% over the year.
Interestingly, home prices are up almost 5% over the year in all capital cities except Perth.
While stock levels are around 25% below the five-year average, demand has eased in line with a weaker job market.
Both supply and demand are expected to rise over the coming months with modest single digit annual growth rates of national home prices seen as likely.
Today’s top gainers on the ASX include Oakdale Resources Ltd (ASX:OAR) (+28.57%), TNT Mines Ltd (ASX:TIN) (+12.20%), Tempus Resources Ltd (ASX:TMR) (+12.50%), Element 25 Ltd (ASX:E25) (+12.42%), Elementos Limited (ASX:ELT) (+25.00%), Cape Lambert Resources Limited (ASX:CFE) (+14.29%) and Red River Resources Limited (ASX:RVR) (+14.29%).
Proactive news headlines:
Castillo Copper enhances "treasure trove" of Broken Hill targets
Castillo Copper Ltd (ASX:CCZ) has entered into a binding agreement with private group Wyloo Metals Pty Ltd to acquire two tenements complementing existing tenure in the Broken Hill area of far western NSW.
Legend Mining enhances Rockford potential with new strong EM conductor at Hurley prospect
Legend Mining Ltd (ASX:LEG) has identified a new, strong electromagnetic (EM) conductor at Hurley prospect which enhances the potential of the Rockford Project on WA's Fraser Range.
CV Check launches live technology integration with New Zealand’s RealMe digital ID
Eclipse Metals confirms further manganese mineralisation in stage-1 drilling at Mary Valley in Queensland
Tietto Minerals takes big strides in marching Abujar Gold Project towards development
Tietto Minerals Ltd (ASX:TIE) is taking big strides towards developing the Abujar Gold Project in central-western Côte D’Ivoire with a resource upgrade expected and a pre-feasibility study (PFS) close to being finalised.
Auteco Minerals set to deliver new generation of growth as it unlocks vast potential at Pickle Crow Gold Project
Auteco Minerals Ltd (ASX:AUT) (OTCMKTS:MNXMF) is set to deliver a new generation of growth after a productive eight months since acquiring the Pickle Crow Gold Project in Ontario, Canada.
YPB Group signs key master services agreement for Indian market
YPB Group Ltd (ASX:YPB) has signed a non-exclusive Master Services Agreement (MSA) with India’s Optimum Interface Consulting (OIC) which provides investigative and risk mitigation services including the provision of anticounterfeit technology solutions.