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S&P/ASX 200 gains 0.92% following a strong session in the US on Tuesday

In Japan, the Nikkei 225 led gains among Asia’s major markets as it rose 1.3% while the Topix index advanced 1.42%.

Lake Resources NL - S&P/ASX 200
Bitcoin fell again on Tuesday, breaking below the critical US$30,000 level.

S&P/ASX 200 (INDEXASX:XJO) gained 0.92% to 7,319 points by about 12.50 pm, reclaiming its losses from the past two days following a strong overnight session in the US.

The Dow Jones Industrial Average in the US jumped more than 500 points, mostly recovering from its Monday plunge.

NSW has recorded 110 new local COVID-19 cases in 24 hours off the back of a record 84,000 tests.

Of the new cases, 43 were infectious while in the community.

The update follows Victoria confirming 22 new cases Wednesday morning.

NSW Premier Gladys Berejiklian said: “That is a high number but a number which reflects the high amount of testing that we had.

“What is concerning, however, is that 43 people in those number of cases were infectious in the community.”

Results

Construction major CIMIC (ASX:CIM) released its half-year results, highlighting a 10.6% gain in group revenue to $7.1 billion and a $208 million net profit.

CIMIC has maintained its FY21 guidance range of $400-$430 million and declared a 42 cents per share interim dividend.

Kogan.com’s (ASX:KGN) trading performance in June 2021 saw an acceleration in gross sales, gross profit and adjusted earnings, ahead of a weaker performance in April and May 2021.

Compared to FY20, gross sales grew by more than 52% in FY21, revenue was up by more than 56% and profit surged by more than 60%.

Retail sales dip

Australian retail turnover fell 1.8% for June 2021, seasonally adjusted, according to preliminary retail trade figures released on Wednesday by the Australian Bureau of Statistics (ABS).

ABS Director of Quarterly Economy Wide Surveys Ben James said: "June’s fall in turnover was due to the impact of coronavirus restrictions across multiple states. Victoria saw restrictions from the start of the month, which were gradually eased from the 11th of June. 

“New South Wales, in particular Greater Sydney, saw stay-at-home orders issued towards the end of the month. 

“Other states and territories saw interrupted trade due to mini-lockdowns, as well as reduced mobility between states with the tightening of border restrictions.”

Top gainers

Today’s top gainers on the ASX include Lake Resources N.L. (ASX:LKE) (+10.26%), OAR Resources Ltd (ASX:OAR) (+15.38%), Okapi Resources Ltd (ASX:OKR) (+10.17%), Peninsula Energy Ltd (ASX:PEN) (+7.69%), Polymetals Resources Ltd (ASX:POL) (+14.81%), Rimfire Pacific Mining N L (ASX:RIM) (+12.50%) and Skyfii Ltd (ASX:SKF) (+8.70%).

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