S&P/ASX 200 dips 0.40% as new COVID-19 cases in the US top 150,000 for the first time

Brent crude is down 0.8% at US$43.17 a barrel in early trade on Friday as a spike in the number of COVID-19 infections raised fears for the global economy.

FYI Resources Ltd - S&P/ASX 200
Gold prices were little changed today at US$1,876.92 per ounce

S&P/ASX 200 (INDEXASX:XJO) fell 26 points or 0.4% to 6,393 by around 1.40 pm as COVID-19 cases in the northern hemisphere continue to surge, leading to further lockdowns.

Despite today’s losses, the index is still on track for a weekly gain of about 3.2% after rising 4.4% last week.

Financials, energy and industrials were leading the declines today while materials and communications advanced.

Energy stocks were also underperforming but they are still up by 13% this week.

COVID-19 update

The number of new COVID-19 cases in the US topped 150,000 on Thursday, eight days after 100,000 cases were found in a day for the first time, according to a New York Times report.

Deaths are rising too with more than 1,000 on average each day and COVID-19 hospitalisations set a record on Thursday, climbing to 67,096.

The pandemic has risen to crisis levels in much of the nation, especially the Midwest, as hospitals warn of dwindling bed space and as coroners deploy mobile morgues.

Top gainers

Today’s top gainers on the ASX include FYI Resources Ltd (ASX:FYI) (+13.89%), Euro Manganese Inc CDI (ASX:EMN) (+17.31%), Rimfire Pacific Mining N L (ASX:RIM) (+20.00%), Technology Metals Australia Ltd (ASX:TMT) (+10.00%), Andromeda Metals Ltd (ASX:AND) (+15.38%), Auteco Minerals Ltd (ASX:AUT) (+10.00%), Macarthur Minerals Ord Shs (ASX:MIO) (+10.64%) and Nanoveu Ltd (ASX:NVU) (+15.00%).

Proactive news headlines:

Comet Resources makes strong progress at Santa Teresa Gold Project in Mexico

Comet Resources Limited (ASX:CRL) has made significant progress on the development pathway at Santa Teresa High-Grade Gold Project in Baja California, Mexico, including the release of an initial JORC-compliant mineral resource estimate.

Calima Energy encouraged by Canadian midstream gas sector progress

Calima Energy Ltd (ASX:CE1) (FRA:R1Y) is encouraged by Canadian midstream sector progress in advancing gas projects despite the impacts of the COVID-19 pandemic.

Great Southern sets development pathway for Mon Ami gold operation

Great Southern Mining Ltd (ASX:GSN) has set a development pathway for gold operations at Mon Ami in Western Australia after completing an in-house preliminary economic evaluation of the potential for an open-pit development.

Alice Queen's strong drill results reveal potential to extend Horn Island gold resource

Alice Queen Ltd (ASX:AQX) has received consistent gold results in resource extension drilling at the 100%-owned component of Horn Island Gold Project in Torres Strait, Queensland, with potential to increase the current inferred resource.

Galena Mining receives further investment from partner Toho Zinc to continue Abra development

Galena Mining Ltd's (ASX:G1A) joint-venture company for the Abra Base Metals Project, Abra Mining Pty Limited (AMPL), has received a further cash investment from Toho Zinc Co Ltd to continue developing the project.

Great Boulder Resources extends Blue Poles strike to more than 1-kilometre with unexpected base metal discovery

Great Boulder Resources Ltd’s (ASX:GBR) results from the second phase of aircore drilling at Blue Poles discovery within the Whiteheads project north of Kalgoorlie, has extended the total strike length to more than of 1-kilometre.

Cauldron progresses non-site activities preparing to get on the ground at Blackwood Gold Project

Cauldron Energy Ltd (ASX:CXU) (OTCMKTS:CAULF) (FRA:UFX) has not been sitting on its hands during Victoria’s strict COVID-19 lockdown with non-site activities progressed for the Blackwood Gold Project in the Victorian Goldfields.

Firefinch's acquisition of Morila transforms company to gold producer with plans to be mid-tier miner

Firefinch Ltd (ASX:FFX), formerly named Mali Lithium (ASX:MLL), has moved quickly to implement plans to transform the newly acquired Morila Gold Mine in Mali, Africa into a major near-term gold producing project.

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...


Comet Resources says Barraba may host 'multiple VMS deposits'

Comet Resources Limited’s (ASX:CRL) Matt O'Kane tells Proactive's Andrew Scott an initial site investigation of the historical Murchison Copper Mine and Gulf Creek North prospects at the Barraba Copper project has identified extensive surface copper mineralisation. He says widespread evidence of...

16 minutes ago

4 min read