S&P/ASX 200 jumps 1.07% as RBA keeps cash rate at all-time low; home prices hit record high

The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.9% to a 9-month high of 107.5 (long-run average since 1990 is 112.6).

Creso Pharma Ltd - S&P/ASX 200
Oil prices slipped today amid concerns over mounting supply after OPEC+ delayed talks on 2021 output policy

S&P/ASX 200 (INDEXASX:XJO) has surged 1.07% to 6587.5 by about 3.45 pm after the Reserve Bank of Australia (RBA) decided to hold official interest rates at a record-low 0.1%.

The RBA started the year with a cash rate of 0.75% but has cut the rate to its current level through March and then November.

Home prices surge

Home prices have hit record highs in 32 of the 88 SA4 regions across Australia in November.

The CoreLogic Home Value Index of national home prices rose 0.8% in November – the most since February (pre-pandemic). Prices were up 3.1% over the year.

Capital city home prices lifted 0.7%, led by gains of 1.9% in both Canberra and Darwin. Regional home prices out-performed combined capitals, up 1.4% in November – the most in 16.5 years.

Top gainers

Today’s top gainers on the ASX include Creso Pharma Ltd (ASX:CPH) (+15.56%), FYI Resources Ltd (ASX:FYI) (+21.95%), YPB Group Ltd (ASX:YPB) (+50.00%), Strategic Elements Ltd (ASX:SOR) (+12.12%), Sensen Networks Ltd (ASX:SNS) (+13.64%), Carnavale Resources Limited (ASX:CAV) (+11.11%) and Miramar Resources Ltd (ASX:M2R) (+13.33%).

Proactive news headlines:

Australian Vanadium maintains focus on technical excellence ahead of banakable due diligence outcomes in 2021

Australian Vanadium Ltd (ASX:AVL) maintained its focus on technical excellence throughout the September quarter by continuing pilot work for its flagship namesake project in Western Australia, setting the building blocks for positive bankable due diligence outcomes in 2021.

Buru Energy sells a further ~68,000 barrels (gross) of Ungani oil under its marketing agreement with BP Singapore

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Carnavale Resources kicks-off aircore drilling at Kookynie Gold Project

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Strategic Elements scales-up Battery Ink capability to 2,000 self-charging battery cells

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Auroch Minerals receives first assays from maiden drilling at Horn as exploration continues

Auroch Minerals Ltd (ASX:AOU) has received the first assay results from the maiden diamond drilling program at the Horn prospect within the Leinster Nickel Project in Western Australia.

Miramar Resources higher on kicking off maiden drilling program at Gidji gold JV near Kalgoorlie

Miramar Resources Limited (ASX:M2R) is trading higher after beginning its first drilling campaign since listing on the ASX - a maiden aircore program at its Gidji Joint Venture Project, 15 kilometres north of Kalgoorlie.

Australian Strategic Materials produces 6 kilograms of key NdFeB alloy for permanent magnets

Australian Strategic Materials Ltd (ASX:ASM) has produced 6 kilograms of a key neodymium iron boron (NdFeB) alloy at the Korean Institute of Rare Metals (KIRAM) facility in Korea for use in permanent magnets.

Platina Resources soil sampling at Challa Gold Project shows potential to reduce exploration costs

Platina Resources Limited (ASX:PGM) has completed a major soil sampling program at its wholly-owned Challa Gold Project in Western Australia that shows future exploration could be less costly than first budgeted.

Brookside Energy’s Thelma 1-32 well acquisition by Orion Project JV to create new area of interest to complement SWISH

Brookside Energy Ltd’s (ASX:BRK) Orion Project Joint Venture with Stonehorse Energy Limited (ASX:SHE), which recently acquired the Thelma 1-32 well, is set to establish a new area of interest (AOI) to complement Brookside’s SWISH AOI in Oklahoma's Anadarko Basin.

Australian Vanadium signs vanadium offtake, electrolyte supply and battery sales MOU with VRFB manufacturer

Australian Vanadium signs vanadium offtake, electrolyte supply and battery sales MOU with VRFB manufacturer

Australian Vanadium Ltd (ASX:AVL) has signed a Memorandum of Understanding (MOU) with Singapore-based vanadium redox flow battery (VRFB) manufacturer, V-Flow Tech Pte Ltd (V-Flow).

Roots Sustainable Agricultural Technologies widens European footprint with Balkan deal

Roots Sustainable Agricultural Technologies Limited (ASX:ROO) has expanded its European presence through a letter of intent (LOI) with established agriculture and water treatment technologies supplier Avital COO, to deploy the company’s proprietary root zone temperature optimisation (RZTO) and heat exchange probe technology in Serbia and other countries in the Balkans.

Imugene doses first patient in Phase 1 clinical trial of checkpoint immunotherapy candidate PD1-Vaxx for lung cancer

Imugene Limited (ASX:IMU) (OTCMKTS:IUGNF), a clinical-stage immuno-oncology company, has dosed the first patient in a Phase I clinical trial of its checkpoint immunotherapy candidate, PD1-Vaxx, in Melbourne, Australia.

Marvel Gold begins drilling aimed at expanding Tabakorole 910,000-ounce resource

Marvel Gold Ltd (ASX:MVL) has begun a 44-hole, 6,300-metre reverse circulation (RC) resource expansion drilling program at its Tabakorole Gold Project in southern Mali.

Legend Mining ends Mawson field season spectacularly with best diamond drill hole to date

Legend Mining Ltd (ASX:LEG) has recorded the best diamond drill hole to date at its Mawson prospect within the Rockford Project, Fraser Range, Western Australia, with RKDD034 intersecting 43.1 metres of massive nickel-copper sulphide, including one zone of 31.1 metres.

Mithril Resources identifies a large hydrothermal gold-silver system in Mexico

Mithril Resources Ltd (ASX:MTH) has identified a large hydrothermal gold-silver system while drilling at the El Refugio target, Cometa Project in the Copalquin Gold Silver District, Mexico.

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