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S&P/ASX 200 vaults over 7,400 points for the first time ever

Iron ore prices rose another 0.5% to US$221.87 a tonne while gold fell 0.4% to US$1859.23 per ounce.

Carnavale Resources Ltd - S&P/ASX 200
Japan’s exports in May rose 49.6% from a year earlier, lower than a 51.3% increase expected by economists.

S&P/ASX 200 (INDEXASX:XJO) has passed through the 7400 points barrier this morning for the first time ever and touched a record high of 7406.2 points by around 12.05 pm.

Banks, oil stocks and healthcare companies were leading the gains while major miners were dragging.

Brent crude price rose 1.55% to US$72.12 per barrel as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on.

US Fed meeting

The two-day US Fed meeting started on Tuesday, with a final statement to be published after the meeting closes on Wednesday.

Investors are awaiting hints about whether and when the Fed plans to taper its bond buying program as the U.S. economy bounces back from the pandemic fallout.

The Fed is not expected to make any policy moves, but it is likely to signal to the market that it is thinking about changing its bond-buying policy.

Victoria insurance claims

Insurance Australia Group (ASX:IAG) received about 4300 claims so far from last week's severe storms and flooding in Victoria and has raised estimates for FY21 net natural perils claims costs to between $720-$743 million as it expects claims to rise.

Regenerative medicine company Avita Medical (ASX:AVH) gained 9.5% on the release of preliminary Q4 results which exceeded its previous guidance range of US$8.2-US$8.6 million.

Top gainers

Today’s top gainers on the ASX include Carnavale Resources Limited (ASX:CAV) (+14.29%), Caspin Resources Ltd (ASX:CPN) (+9.52%), Firefinch Ltd (ASX:FFX) (+13.19%), King River Resources Ltd (ASX:KRR) (+6.25%), OAR Resources Ltd (ASX:OAR) (+7.14%) and PVW Resources NL (ASX:PVW) (+7.14%).

Proactive news headlines:

Cervantes Corporation kicks off RC drilling at Primrose Gold Project’s Blue Heaven target

Cervantes Corporation Limited (ASX:CVS) has started drilling its flagship Primrose Gold Project in the Yalgoo district of WA following a successful recapitalisation and re-quotation on the ASX.

Oar Resources raises $2.3 million to drive multi-project exploration program

Oar Resources Ltd (ASX:OAR) (FRA:F1S) has received firm commitments for a share placement to raise up to $2.3 million at a price of 1.3 cents per share.

FYI Resources ranks in top sixth percentile of peer group in inaugural ESG ratings report

FYI Resources Ltd (ASX:FYI) (OTCMKTS:FYIRF) (FSE:SDL) has received its first Environmental, Social and Governance (ESG) rating, ranking in the top sixth percentile of its peer group.

Caspin Resources finds new PGE-nickel-copper soil anomalies at Yarawindah Brook Project

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Poseidon Nickel adds to high-grade continuity at Golden Swan with more strong nickel results

Poseidon Nickel Ltd (ASX:POS) (OTCMKTS:PSDNF) (FRA:NYG) has returned more strong assay results from resource definition drilling underway at the Golden Swan discovery of its Black Swan Nickel Project in Western Australia.

AuKing Mining has stellar ASX relisting after raising $7 million

AuKing Mining Ltd (ASX:AKN) has had a stellar reinstatement to official quotation on the Australian Securities Exchange after completing a public share offer to raise around $7 million through the issue of 35 million shares as well as 17.5 million options exercisable at 25 cents expiring June 2023.

Castillo Copper powers into comprehensive drilling program at flagship Mt Oxide Project

Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:70R) has begun a comprehensive drilling campaign comprising reverse circulation and diamond drilling across three key prospects at its flagship Mt Oxide Project in Queensland’s Mt Isa Copper-belt.

Element 25 transports first Butcherbird manganese concentrate for shipping

Element 25 Ltd (ASX:E25) has started ore haulage under the terms of a Letter of Intent executed with AK Evans Group Australia for transportation of manganese concentrate from the company’s Butcherbird Manganese Project to Utah Point in Port Hedland.

K2fly tables record sales invoicing in May, inks reseller agreement with Descartes Labs

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Firefinch awards US$360 million contract for expanded Morila gold operations to Mota-Engil and Inter-Mining Services JV

Firefinch Ltd (ASX:FFX) has awarded a key US$360 million open pit mining contract covering expansion work at its Morila Gold Project in Mali to a joint venture (JV) vehicle.

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