S&P/ASX 200 gains 0.32% as technology, healthcare stocks rise

Brent crude oil futures dipped 2.4% to US$72.56 per barrel from a multi-year high, as a stronger US dollar made oil more expensive in other currencies, potentially weighing on demand.

Alice Queen Ltd - S&P/ASX 200
Spot gold fell 2% to US$1,776.10 per ounce after the U.S. Federal Reserve struck a hawkish tone on monetary strategy.

S&P/ASX 200 (INDEXASX:XJO) has bounced back from Thursday’s decline with the index rising 0.32% to 7,382 points by 12.55 pm.

This follows mixed movements in Wall Street overnight as investors digested the Federal Reserve’s hawkish tone on monetary strategy.

Locally, technology, healthcare, consumer discretionary and telecom sectors added to the gains while materials, energy and financial stocks were in the red.

ZipCo surges

Buy-now pay-later stocks regained their mojo with Afterpay (ASX:APT) jumping 6.7% while ZipCo (ASX:Z1P) surged 9.7%.

Commodity stocks were weaker as most metals and oil prices softened on a stronger US dollar but iron ore managed to rise 3.3%.

Bubs Australia (ASX:BUB) shares surged 30% after announcing it will launch several of its infant formula products in the US through Walmart’s online platform.

Top gainers

Today’s top gainers on the ASX include Alice Queen Ltd (ASX:AQX) (+7.14%), Avz Minerals Ltd (ASX:AVZ) (+6.67%), Corazon Mining Ltd (ASX:CZN) (+12.12%), Imugene Limited (ASX:IMU)(+7.94%), Latitude Consolidated Ltd (ASX:LCD) (+6.67%), Oklo Resources Ltd (ASX:OKU) (+9.09%) and Rumble Resources Ltd (ASX:RTR) (+7.95%).

Proactive news headlines:

SUDA Pharmaceuticals licenses novel iNKT cell therapy platform from Imperial College London

SUDA Pharmaceuticals Ltd (ASX:SUD) (FRA:E4N) has signed a global, exclusive licence agreement with Imperial College London for a novel invariant Natural Killer T (iNKT) cell therapy platform.

Zelira Therapeutics research demonstrates significant uptake of CBD into the brain

Zelira Therapeutics Ltd (ASX:ZLD) (OTCMKTS:ZLDAF) (FRA:G1G) is buoyed that Curtin University researchers have developed a new technology that improves delivery of cannabidiol (CBD) based drugs into the brains of mice by up to 40-times.

Arafura Resources welcomes NAIF support for potential Nolans senior debt facility

Arafura Resources Limited (ASX:ARU) (OTCMKTS:ARAFF) (FRA:REB) has welcomed support from the Northern Australia Infrastructure Facility (NAIF) in relation to a potential senior debt facility as part of the funding package for its Nolans Rare Earth Project.

Danakali’s test-work confirms SOP production rates at Colluli, optimisation leads to lower opex and capex

Danakali Ltd (ASX:DNK) (LSE:DNK) (OTCMRKTS:DNKLY) says test-work conducted at its low-cost Colluli Potash Project in East Africa has confirmed production rates and outlines a path to lower operating and capital costs.

Archer Materials completes sale of Eyre Peninsula tenements to focus on quantum computing technology

Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has completed the sale of the Wadikkee and Carappee Hill tenements on South Australia's Eyre Peninsula to NextGen Materials Pty Ltd.

Paradigm Biopharmaceuticals secures approvals for Phase 2 clinical trial treating MPS-VI subjects in Brazil with PPS

Paradigm Biopharmaceuticals Ltd (ASX:PAR) (OTCMKTS:PBIGF) has received a key regulatory approval from Brazilian National Health Surveillance Agency ANVISA for its Phase 2 clinical trial evaluating the safety and tolerability of injectable (SC) pentosan polysulfate sodium (iPPS) versus placebo in subjects with Mucopolysaccharidosis type VI (MPS VI).

Kin Mining turning to regional gold, nickel sulphide targets after fourth phase Cardinia Gold Project campaign

Kin Mining NL (ASX:KIN) is turning its focus to regional exploration targets after a major fourth phase drilling campaign at its wholly-owned Cardinia Gold Project.

Musgrave Minerals RC drilling reveals thick Big Sky gold intersections up to 84 metres at Cue Project

Musgrave Minerals Ltd (ASX:MGV) (OTCMKTS:MGVMF) (FRA:6MU) has returned thick intersections in reverse circulation (RC) drilling at Big Sky prospect along a new gold corridor southwest of Lena deposit at the Cue Project in Western Australia.

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