S&P/ASX 200 holds on to gains as energy sector rises 1.53%

WTI crude oil price rose 1.5% to US$41.46 on Tuesday on hopes that the United States was nearing a stimulus deal.

Cirralto - S&P/ASX 200
Gold rose 0.4% to US$1,912.71 per ounce as the US dollar weakened

S&P/ASX 200 (INDEXASX:XJO) managed to hold onto its earlier gains by rising 0.18% to 6196 by 1.27 pm as energy stocks surged following a gain in oil prices overnight.

Local gains follow an improved session on Wall Street with major US indices rising on fiscal stimulus hopes from US lawmakers.

Banks and energy stocks rise

Global oil prices rose overnight by as much as 1.5% on hopes that a US stimulus package would push economic activity and revive oil demand.

Energy majors Oil Search (ASX:OSH) surged 3.68% and Santos (ASX:STO) is up 2.76%.

Financials are also contributing to broader advances on the ASX with the big four banks all in positive territory.

ANZ Bank (ASX:ANZ) is outperforming with a 1.86% rise while National Bank (ASX:NAB) is 1.67% higher.

Top gainers

Today’s top gainers on the ASX include Cirralto Ltd (ASX:CRO) (+13.89%), Engage:BDR Ltd (ASX:EN1) (+16.67%), Kin Mining NL (ASX:KIN) (+14.63%), West Wits Mining Limited (ASX:WWI) (+60.47%),  Latin Resources Ltd (ASX:LRS) (+10.53%), Cellmid Limited (ASX:CDY) (+15.00%) and St George Mining Ltd (ASX:SGQ) (+16.67%).

Proactive news headlines:

Perseus Mining’s gold production rises to 68,772 ounces as Yaouré development remains on schedule

Perseus Mining Limited’s (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) Edikan and Sissingué operations in West Africa continued to perform strongly in the September 2020 quarter relative to the prior quarter, with gold production up 6% to 68,772 ounces.

PolarX anticipates further Zackly East gold-copper assay results in near-term

PolarX Ltd (ASX:PXX) expects to receive assay results in the near-term from recently completed drilling at the Zackly East gold-copper discovery within its Alaska Range Project.

Brookside Energy rapid payout for STACK Play wells creates long-term value

Brookside Energy Ltd's (ASX:BRK) STACK Play non-operated Working Interest wells in the Anadarko Basin of Oklahoma are performing well, with the payout profile validating the company’s acreage selection and acquisition process

Legend Mining fields further encouraging Mawson results and identifies new DHTEM conductors

Legend Mining Ltd (ASX:LEG) has identified two new DHTEM conductors on top of further positive diamond drilling results from the Mawson discovery within the wider Rockford Nickel-Copper Project in Western Australia's Fraser Range.

Ironbark Zinc works on shipping solution for Citronen Zinc-Lead Project in Greenland

Ironbark Zinc Limited (ASX:IBG) has commissioned a report by Canadian ice shipping specialist Fednav Ice Services to inspect shipping conditions at its 100%-owned Citronen Zinc-Lead Project in Greenland.

St George Mining higher on delivering Mt Alexander “breakthrough” with very strong EM conductors

St George Mining Ltd (ASX:SGQ) (FRA:S0G) is moving quickly to drill-test two very strong off-hole electromagnetic (EM) conductors identified in an unexplored area of the Mt Alexander Nickel-Copper Sulphide Project in WA.

Talisman Mining well-funded to explore growth opportunities in gold and copper

Talisman Mining Ltd (ASX:TLM) has come out of FY20 in a strong financial position as a cash-backed exploration company with a strong potential royalty portfolio after divesting its Sinclair Nickel Project in Western Australia to Saracen Nickel Pty Ltd, a subsidiary of Saracen Mineral Holdings Limited (ASX:SAR).

Kin Mining high-grade diamond drill results at Cardinia Hill expand gold potential at depth

Kin Mining NL (ASX:KIN) has received new high-grade assay results from recent diamond (DD) and reverse circulation (RC) drilling at Cardinia Hill prospect as part of an ongoing Phase 3 drill program at the Cardinia Gold Project (CGP) in Western Australia.

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