Text-only (non-video) report.
The ASX picked up pace after a lackluster start, buoyed by advances in materials.
Mining stocks are riding high on momentum from record-breaking iron prices, as the steel-making ingredient surpassed the 200-dollar mark. Mining giants BHP, Rio Tinto, Fortescue Metals were all in bullish territory by midday.
Rising gold prices were also a stimulant for mining heavyweights, as Northern Star Resources (ASX:NST)
and Newcrest Mining (ASX:NCM)
were tracking 3 per cent higher before lunchtime.
At noon, the S&P/ASX 200 is 0.40 per cent or 28.20 points higher at 7089.90. The SPI futures are pointing to a rise of 40 points.Best and worst performers
The best-performing sector is Materials, up 1.13 per cent. The worst-performing sector is Information Technology, down 2.99 per cent.
The best-performing stock in the S&P/ASX 200 is HUB24 (ASX:HUB)
, trading 5.68 per cent higher at $24.02. It is followed by shares in Appen (ASX:APX)
and Silver Lake Resources (ASX:SLR)
The worst-performing stock in the S&P/ASX 200 is Pro Medicus (ASX:PME)
, trading 7.44 per cent lower at $42.53. It is followed by shares in Afterpay (ASX:APT)
and Nuix (ASX:NXL)
.Commodities and the dollar
Gold is trading at US$1814.64 an ounce.
Iron ore is 4.90 per cent higher at US$201.88 a ton.
Iron ore futures are pointing to a rise of 3.72 per cent.
One Australian dollar is buying 77.81 US cents.