S&P/ASX 200 dips as UK prepares for full lockdown amid rising COVID-19 cases

Brent crude oil futures fell 1% to US$51.30 a barrel from multi-month highs in volatile trade on Monday as U.S. stockpiles fell nearly 2%.

Strategic Elements Ltd - S&P/ASX 200
On Monday, spot gold price hit its highest since November 9 at US$1,945.26.

S&P/ASX 200 (INDEXASX:XJO) was trading lower on the second trading day of the year, down 0.16% at 6673.8 by 1.46 pm.

The major banks were weighing on the market with Commonwealth Bank of Australia (ASX:CBA) down 0.63% and National Australia Bank Ltd (ASX:NAB) falling 1.35%.

All sectors except telecommunications and materials were in the red, with materials rising by 1.71%.

The sector surged higher with support from BHP Group Ltd (ASX:BHP) which was up 3% and Rio Tinto (ASX:RIO) which gained 2.07%.

COVID-19 update

England will return to a full coronavirus lockdown, possibly until mid-February, to try to cut spiralling infection rates, Prime Minister Boris Johnson said on Monday.

The measures, which include the closure of primary and secondary schools, will come into effect tomorrow.

Victoria reported three locally acquired cases in the last 24 hours, all of which are directly linked to the Black Rock cluster.

There are currently 1000 primary and secondary contacts of cases in isolation in Victoria.

Top gainers

Today’s top gainers on the ASX include Strategic Elements Ltd (ASX:SOR) (+29.17%), Xtek Ltd (ASX:XTE) (+10.19%), Artemis Resources Ltd (ASX:ARV) (+16.67%), Southern Gold Limited (ASX:SAU) (+13.64%), Nanoveu Ltd (ASX:NVU) (+16.92%), Archtis Ltd (ASX:AR9) (+11.29%) and Cardiex Ltd (ASX:CDX) (+11.11%).

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