ASX hits highest point in seven weeks: Aus shares close 0.56% higher

Market Reports

by Peter Milios

The ASX experienced a notable surge, reaching its highest point in a span of seven weeks, propelled by substantial growth in nine sectors among the eleven.

At the closing bell, the S&P/ASX 200 was 0.56 per cent or 40.8999 points higher at 7,292.10.


The Dow Jones futures are pointing to a fall of 40 points.
The S&P 500 futures are pointing to a fall of 1 point.
The Nasdaq futures are pointing to a rise of 14.5 points.
The SPI futures are up 27 points.

Best and worst performers

The best-performing sector was Health Care, up 1.88 per cent. The worst-performing sector was Energy, down 0.37 per cent.

The best-performing large cap was Aurizon Holdings (ASX:AZJ), closing 2.66 per cent higher at $3.86. It was followed by shares in Woolworths Group (ASX:WOW) and CSL (ASX:CSL).

The worst-performing large cap was Liontown Resources (ASX:LTR), closing 6.03 per cent lower at $2.96. It was followed by shares in New Hope Corporation (ASX:NHC) and Mercury NZ (ASX:MCY).

Asian markets

Japan's Nikkei has lost 0.96 per cent.
Hong Kong's Hang Seng has lost 1.18 per cent.
China's Shanghai Composite has lost 0.68 per cent.

Company news

Lake Resources (ASX:LKE; OTC: LLKKF) announces two phase development to targeted production of 50 kilo tonnes per annum battery grade lithium carbonate. CEO David Dickson said. “Our new, phased approach de-risks project execution while ensuring battery grade lithium carbonate comes to market in a cleaner, efficient way.” Shares closed 20 per cent lower at 38 cents.

Bastion Minerals (ASX:BMO) secures a high grade REE project in Sweden. The opportunity is exemplified by Executive Chairman’s, Mr Ross Landles comment: “there are currently no rare earth elements currently being mined in Europe, with China providing nearly 98 per cent of the EU’s supply.” Shares closed 19.2 per cent higher at 3.1 cents.

Dateline Resources (ASX:DTR) announced that high grades of gold have been intercepted at their Colosseum Mine in California, USA. MD Stephen Baghdadi, commented: “This is a bonanza result. The current drilling program is designed to increase the overall gold resource size, both in terms of tonnage and grade.” Shares closed 6.3 per cent higher at 3.4 cents.

Commodities and the dollar

Gold is trading at US$1,966.70 an ounce.
Iron ore is 0.1 per cent higher at US$115.50 a tonne.
Iron ore futures are pointing to a 0.1 per cent fall.
Light crude is trading $0.81 lower at US$70.97 a barrel.
One Australian dollar is buying 68.64 US cents.

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