The Australian sharemarket has jumped this morning in a broad-rally led by property, then communication services, healthcare and utilities.
At noon, the S&P/ASX 200 is 1.1 per cent or 74 points higher at 6,613. The SPI futures are pointing to a rise of 67 points.
The best performing stock in the ASX 200 is New Hope Corporation (ASX:NHC)
, trading almost 6 per cent higher at $3.54. This is followed by Ingenia Group (ASX:INA)
up 5.7 per cent to $4.18 and Reliance Worldwide (ASX:RWC)
up 4.8 per cent to $4.26.
The worst performing stock in the ASX 200 is PointsBet (ASX:PBH)
, trading 6.3 per cent lower at $2.70. This is followed by Magellan Financial (ASX:MFG)
down 5.2 per cent to $12.32 and St Barbara (ASX:SBM)
down 1.3 per cent to 78 cents.
There have been news of several companies being awarded agreements. NRW Holdings (ASX:NWH)
has been awarded two deals worth $78 million. One is with Lynas Rare Earths and the other is with Rio Tinto, both under NRW’s subsidiary, DIAB Engineering. Lynas is set to use NRW’s services to build a Kalgoorlie facility to process and further concentrate the rare earth. While with Rio, NRW’s services will be used to control dust for those working in their iron ore operations. Shares are trading 2.6 per cent higher at $1.75.
has inked a 4-year deal with Dubai-based Tandeem group which operates several Middle Eastern shopping malls. In that time, Tandeem has reported success in detecting security events, including smoke, allowing early intervention. The deal worth $190,000 (US$132,000) will be paid in two instalments, 40 per cent of the value will be paid this month, and the balance is set to be paid in March next year. Shares are flat at 2 cents.
Meanwhile, Bubs Australia (ASX:BUB)
has entered into new supply agreements with two retail banner groups in the US, in anticipation of the arrival of plane number four under "operation fly formula". Shares are trading 4 per cent higher at 64 cents.
Energy players are advancing, including Santos (ASX:STO)
up 2.8 per cent to $7.41 and Woodside Energy (ASX:WDS)
up 1.3 per cent to $30.84.
Major banks are advancing, led by ANZ Banking (ASX:ANZ)
up 1.9 per cent to $22.42. The rest are adding between 1.2 per cent and 1.6 per cent.
The fall in the price of iron ore is weighing on BHP Group (ASX:BHP)
, down 1.2 per cent to $39.58 with Fortescue Metals (ASX:FMG)
down 0.1 per cent to $16.98, while Rio Tinto (ASX:RIO)
is trading 0.4 per cent higher at $100.73.
Gold stocks are advancing, led by Evolution Mining (ASX:EVN)
up 2.7 per cent to $2.44. Northern Star (ASX:NST)
has added 1.9 per cent to $6.94 and Newcrest Mining (ASX:NCM)
is trading 1.7 per cent higher at $20.61.Local economic news
The total number of dwellings approved rose 9.9 per cent in seasonally adjusted terms in May, following a 3.9 per cent fall in April, according to the Australian Bureau of Statistics.
The value of new housing loan commitments rose 1.7 per cent to $32.4 billion in May, seasonally adjusted), according to the Australian Bureau of Statistics.Company news
Ora Banda Mining (ASX:OBM)
has appointed Luke Creagh as chief executive officer, to start immediately. Shares are trading 16.7 per cent higher at 3.5 cents.
has signed a $1.5 billion binding offtake agreement with DaelimCo, a subsidiary of Daelim, for the supply of urea fertiliser. Shares are trading 13.9 per cent higher at 20 cents.
has provided an update on the weather impacting NSW and parts of South-East Queensland, as well confirming natural hazard costs in the 2022 financial year and the placement of its FY23 reinsurance program. Shares are trading 0.3 per cent higher at $10.98.
Breast cancer detector Volpara Health Technologies (ASX:VHT)
has signed a contract with Radnet Management for 42 months, with the mutual option to extend. Shares are trading 11.7 per cent higher at 52 cents.
COG Financial Services (ASX:COG)
has announced the acquisition of a 70 per cent interest in Club Transport Finance via its subsidiary QPF Holdings, for a cash consideration of $7 million paid by QPF. Shares are trading flat at $1.59.
Coda Minerals (ASX:COD)
has agreed to divest its Mt Piper Gold Project in central Victoria to Kalamazoo Resources for a consideration package comprising a combination of upfront cash, shares in Kalamazoo and a future production royalty. Shares are trading 11.1 per cent higher at 30 cents.
Silex Systems (ASX:SLX)
has executed a non-binding letter of intent between Global Laser Enrichment and Duke Energy for the purpose of developing areas of mutual interest and cooperation in the nuclear fuel supply chain. Shares are trading 8.7 per cent higher at $2.38.
Anson Resources (ASX:ASN)
has completed the latest phase of its ongoing resource expansion drilling program, at the Long Canyon No. 2 well, recording 3,785 pressures. Shares are trading 8.5 per cent higher at 10 cents.
Bowen Coking Coal (ASX:BCB)
has shipped its first coal from its Bluff Mine in central Queensland. The delivery was sent to Taiwan-based conglomerate Formosa Plastics Group after the first delivery was sent via train earlier in June. Shares are trading 4.4 per cent higher at 24 cents.
Home Consortium (ASX:HMC)
has announced the launch of its HMC Capital Partners Fund 1. Shares are trading 5 per cent higher at $4.87. Commodities and the dollar
Gold is trading at US$1,805.84 an ounce.
Iron ore is 3 per cent lower at US$116.45 a ton.
Iron ore futures are pointing to a fall of 5.3 per cent.
One Australian dollar is buying 68.07 US cents.