by Peter Milios
All sectors except for Energy and Materials closed lower in today’s trading session. However, big gains in these sectors helped the S&P/ASX 200 close 0.05 per cent higher at 7,255.40.
South32 (ASX:S32) rose 5.2 per cent at $4.70 per share. Fortescue (ASX:FMG) was up 4.3 per cent at $23.06 per share. BHP Group (ASX:BHP) increased 4 per cent to $48.05 per share.
The financials sector had poor performance due to significant declines in the banks’ stock prices. Macquarie Group lost 2.1 per cent, ANZ lost 2.7 per cent, and Commonwealth Bank dropped 2 per cent.
Futures
The Dow Jones futures are pointing to a rise of 68 points.
The S&P 500 futures are pointing to a fall of 14.25 points.
The Nasdaq futures are pointing to a fall of 58 points.
The SPI futures are pointing to a fall of 3 points when the market next opens.
Best and worst performers
The best-performing sector was Materials, up 2.89 per cent. The worst-performing sector was Financials, down 1.91 per cent.
The best-performing large cap was South32 (ASX:S32), closing 5.15 per cent higher at $4.70. It was followed by shares in Mineral Resources (ASX:MIN) and Fortescue Metals Group (ASX:FMG).
The worst-performing large cap was Lynas Rare Earths (ASX:LYC), closing 6.81 per cent lower at $7.80. It was followed by shares in Xero (ASX:XRO) and ANZ Group Holdings (ASX:ANZ).
Asian markets
Japan’s Nikkei has lost 0.01 per cent.
Hong Kong’s Hang Seng has lost 0.51 per cent.
China’s Shanghai Composite has lost 0.66 per cent.
Company news
Rox Resources (ASX:RXL) has announced a bonanza intercept of gold at their Youanmi Gold Project in WA. Rox Resources Managing Director, Mr Robert Ryan, stated. “The exceptional grade and continuous high grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.” Shares last traded 72.4 per cent higher 25 cents.
Andromeda Metals (ASX:ADN) has locked-in regulatory approval for its Great White Project. Andromeda’s Managing Director, James Marsh, said, “With this important regulatory milestone now achieved, Andromeda is poised to progress towards construction, as we advance funding discussions which will enable a final investment decision.” Shares last traded 14.6 per cent 4.7 cents.
Helix Resources (ASX:HLX) has announced that shallow high-grade copper potential has been confirmed at their Canbelego Copper Project in NSW. In response, Helix Managing Director Mike Rosenstreich said: “Reviewing the drill cross-section and including the visual copper mineralisation in diamond hole 17 – this zone looks to extend from almost surface to over 150m down dip and remains open at depth.” Shares last traded 25 per cent higher at 0.8 cents.
Commodities and the dollar
Gold is trading at US$1,840.50 an ounce.
Iron ore is 2.2 per cent higher at US$126.80 a tonne.
Iron ore futures are pointing to a 1.16 per cent rise.
Light crude is trading $0.08 higher at US$77.77 a barrel.
One Australian dollar is buying 67.44 US cents.
