Australia’s stock market shrugged off the smaller advance in U. S. markets overnight to new highs in early trading, before late-afternoon promotion pushed the index into the red.
The sectors that weighed the most on the day were communications services, real estate and healthcare.
Gold, metals, mining and textile stocks were the main positive drivers, helping the market as a whole.
The gold sector was strong on the day, with manufacturers Newmont (ASX:NEM) and Evolution (ASX:EVN) ending around five percent with a steady rise as the price of gold hit new highs, trading near $2,273. 10 per ounce. .
The price of iron ore also recovered above $100 a tonne overnight, after plunging about five percent in regional trading on Easter Monday. At the close, BHP (ASX:BHP) was up 1. 94 percent, while Rio (ASX:RIO) closed 0. 68 consistent with one cent higher.
The RBA minutes were released at 11:30 a. m. local time and surprised some. Clearly, the RBA’s board of directors had not discussed any rate hikes. Most will interpret this as a positive for rates going forward.
Elsewhere, Austal (ASX:ASB) closed 10. 45, up a few cents, after confirming it had won a takeover bid from South Korean shipbuilder Hanwha Ocean at $2. 825 in cash consistent with Austal’s share. Uranium miner Paladin Energy (ASX:PDN) closed the day up 4. 74% after announcing that it had produced its first shipment of uranium from its Langer Heinrich mine in Namibia. Mesoblast shares closed the day up 71. 17% as excitement continues to build around its pending shipment of food and medicine in the U. S. The FDA’s announcement last week that knowledge of a Phase III trial of the company’s Ryoncil product is sufficient to resubmit the biologics license application.
At the ringing of the final bell, the S
Futures Contracts
Dow Jones futures forecast a drop of 138 points. S Futures
Best and Worst Performers
The most productive in the materials sector, up 1. 08 percent. The worst in the communications sector, down 0. 98 percent.
The most productive operating giant, Evolution Mining (ASX:EVN), eventually rose 5. 87% to $3. 79. It was followed by shares of Newmont Corporation (ASX:NEM) and Meridian Energy (ASX:MEZ).
Worse-performing large-cap Netwealth Group (ASX:NWL) was ultimately down 4. 45% at $20. 18. It was followed by shares of Premier Investments (ASX:PMV) and Ramsay Health Care (ASX:RHC).
Asian Markets
Japan’s Nikkei 0. 01 percent. Hong Kong’s Hang Seng rose 2. 30 percent. China’s Shanghai Composite rose 0. 11 percent.
Commodities and the Dollar
Gold is trading at $2,274. 30 per ounce. Iron ore was down 0. 3% at $102. 50 a tonne. Iron ore futures are pointing to a 2. 21% increase. Light crude traded $0. 40 higher at $84. 11 a barrel. He bought 64. 91 cents.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.