by Peter Milios
At the closing bell, the S&P/ASX 200 was 0.07 per cent higher at 7,365.50, with Materials and Utilities the only sector in the black.
The materials sector was driven by a rally in gold stocks, including a 3.9 per cent increase in Gold Road Resources (ASX:GOR) shares and a 3.5 per cent jump in De Gray Mining (ASX:DEG) shares. BHP Group (ASX:BHP) shares also rose by 1.5 per cent.
On the other hand, The Star Entertainment Group (ASX:SGR) shares fell by 7.4 per cent after announcing that its Sydney casino would undergo a strategic review, leading to 500 job losses.
Futures
The Dow Jones futures are pointing to a fall of 66 points.
The S&P 500 futures are pointing to a fall of 8.5 points.
The Nasdaq futures are pointing to a fall of 44.25 points.
The SPI futures are pointing to a rise of 13 points when the market next opens.
Best and worst performers
The best-performing sector was Materials, up 1.1 per cent. The worst-performing sector was Consumer Discretionary, down 1.14 per cent.
The best-performing large cap was Mercury NZ (ASX:MCY), closing 4.1 per cent higher at $5.84. It was followed by shares in IGO (ASX:IGO) and Pilbara Minerals (ASX:PLS).
The worst-performing large cap was NEXTDC (ASX:NXT), closing 3.23 per cent lower at $11.69. It was followed by shares in James Hardie Industries plc (ASX:JHX) and Aristocrat Leisure (ASX:ALL).
Asian markets
Japan’s Nikkei has lost 0.18 per cent.
Hong Kong’s Hang Seng has lost 0.81 per cent.
China’s Shanghai Composite has lost 0.04 per cent.
Company news
Buxton Resources (ASX:BUX) has announced that their RC drill program has returned numerous zones of thick and high-grade graphite mineralisation at its Graphite Bull Project in WA. Baseline biological surveys to support environmental assessments and approvals have now commenced. Shares closed 17.7 per cent higher at 20 cents.
Rumble Resources (ASX:RTR) has reported their Mineral Resource Estimate for their zinc, gold and lead Earaheedy Project in WA, confirming the project as potential for world class. In response, Managing Director Shane Sikora commented: “This exceptional resource estimate is a major milestone for Rumble, confirming the Earaheedy Project as one of the largest zinc sulphide discoveries globally over the last decade.” Shares closed 15.8 per cent higher at 22 cents.
Blue Star Helium (ASX:BNL) has announced that the final approval was received to drill the first two helium development wells at the highgrade Voyager helium development in Colorado. Drilling of the first well is expected to commence in late Q2 or Q3. Shares closed flat at 3.1 cents.
Commodities and the dollar
Gold is trading at US$2,007.40 an ounce.
Light crude is trading $0.39 lower at US$80.47 a barrel.
One Australian dollar is buying 67.17 US cents.
