leadf
logo-loader

S&P/ASX 200 charges ahead as energy stocks, miners and financials gain

Bank of America said Brent crude prices are likely to average US$68 a barrel this year but could hit US$100 next year on pent-up demand and more private car usage.

Alicanto Minerals - S&P/ASX 200
Brent crude futures for August gained 1.89% to settle at US$74.90 per barrel.

S&P/ASX 200 (INDEXASX:XJO) has surged 1.45% to 7,340 points by about 12.50 pm as global markets recouped some of the losses made in previous sessions.

The Australian market was pushed higher by energy stocks (+1.9%), miners (1.47%) and financials (1.92%).

Mergers and acquisitions

Washington H. Soul Pattinson (ASX:SOL) (WHSP) will acquire fellow investment house Milton Corporation (ASX:MLT) via a scheme of merger that would create a $10 billion group on the ASX.

WHSP said the merger would create a more diversified investment company focused on long-term market outperformance and dividend growth.

The second oldest company on the ASX, WHSP has paid a dividend every year for 118 years.

Buy now, pay later operator Openpay (ASX:OPY) will buy UK-based Payment Assist, which helps motorists pay for car maintenance and repairs in instalments.

The acquisition will cost Openpay $15.1 million in cash plus $6.1 million in scrip.

Worrying COVID-19 trend

New South Wales (NSW) has recorded a worrying trend in COVID-19 cases, with officials confirming 10 new infections since Monday.

NSW Health confirmed five locally acquired cases had been recorded in the 24 hours to 8pm last night, with two of those announced yesterday morning.

There were also seven other infections recorded after the official reporting period, which will be included in Wednesday’s numbers.

Top gainers

Today’s top gainers on the ASX include Alicanto Minerals Ltd (ASX:AQI) (+14.29%), Perpetual Resources Ltd (ASX:PEC) (+13.64%), Rumble Resources Ltd (ASX:RTR) (+12.77%), SUDA Pharmaceuticals Ltd (ASX:SUD) (+38.89%), TNT Mines Ltd (ASX:TIN) (+13.33%), Valor Resources Ltd (ASX:VAL) (+10.00%) and Lake Resources N.L. (ASX:LKE) (+8.57%).

Proactive news headlines:

Perpetual Resources granted mining lease for Beharra High-Grade Silica Sand Project, shares up

Perpetual Resources Ltd (ASX:PEC) has been granted a mining lease (M70/1406) for the Beharra High-Grade Silica Sand project, around 96 kilometres south of Geraldton, in Western Australia.

SUDA Pharmaceuticals soars as oversubscribed placement raises $3.65 million to support iNKT cell therapy platform

SUDA Pharmaceuticals Ltd (ASX:SUD) (FRA:E4N) shares have jumped 69.45% to A$0.061 on the back of a heavily oversubscribed placement that raised $3.65 million.

Arafura Resources in trading halt ahead of capital raising announcement

Arafura Resources Limited (ASX:ARU) (OTCMKTS:ARAFF) (FRA:REB) has been granted a trading halt by the ASX ahead of a proposed capital raising announcement that is material to the company.

Salt Lake Potash adds technical experience to board with appointment of Rebecca Morgan

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) has added senior technical and executive experience to its board of directors with the appointment of Rebecca Morgan as a non-executive director.

St George Mining confirms high-grade nickel-copper sulphide discovery at Mt Alexander Project

St George Mining Ltd’s (ASX:SGQ) new assays have confirmed the latest high-grade nickel-copper sulphide discovery at its flagship high-grade Mt Alexander Project in WA's north-eastern Goldfields.

PolarX to kickstart diamond drilling of new massive sulphide copper targets at Caribou Dome

PolarX Ltd (ASX:PXX) (FRA:PX0) is set to kickstart a diamond core drilling program at the high-grade Caribou Dome Copper Project in Alaska targeting new high-priority targets for massive sulphide copper mineralisation.

Auteco's Carey discovery has “potential for high-grade open pit” according to Canaccord Genuity

Auteco Minerals Ltd (ASX:AUT) (OTCMKTS:MNXMF) has secured a speculative buy rating and price target of A$0.22 from a recent report by Canaccord Genuity Ltd, off the back of the Carey discovery at the Pickle Crow Project in Canada.

Matador Mining strengthens Newfoundland presence with highly regarded geologist appointed technical advisor

Matador Mining Ltd (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:MA3) has appointed highly regarded Newfoundland-based geologist Kerry Sparkes as technical advisor to the board.

TNG Limited signs agreement with Malaysian green hydrogen company to develop vanadium batteries

TNG Limited (ASX:TNG) (OTCMKTS:TNGZF) has taken another key step to progress its green energy strategy after reaching agreement with an international technology company and specialist in the green hydrogen sector to develop commercial opportunities using vanadium redox flow batteries (VRFB).

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Base Resources highlights enhanced DFS for Toliara project in Madagascar

Base Resources Ltd's Kevin Balloch talks Proactive through an enhanced definitive feasibility study on its Toliara project in Madagascar. It's revealed a post-tax/pre-debt net present value of US$1bn and a 3.5 average revenue to cost of sales ratio over an initial 38-year mine life. Life-of-mine...

1 hour, 45 minutes ago

4 min read