The Australian sharemarket has jumped to a fresh 13-month high at lunch, with the ASX 200 up 0.65 per cent to 7,022. Gold miners, technology stocks and healthcare are among the main contributors to the market’s improvements.
The market got off to a slow start this week, treading water ahead of key employment data tomorrow, a number of updates on China’s economy Friday and over a dozen major US financial institutions posting quarterly results in coming days.
With the exception of Telcos and Consumer Staples, all sectors are lifting.
Resolute Mining (RSG) is up 14 per cent after having its mining lease restored at its Bibiana gold mine in Ghana. Its shares slumped by 26 per cent when news broke of the Ghanaian government suspending its lease without explanation in late March. RSG has been in the process of finalising the sale of its Bibiani mine for US$105m.
Brainchip (BRN) is up 17 per cent after announcing the start of volume production of its Akida processors, intended for use in home automation technology, remote controls, robotics, security cameras and more.
Woodside (WPL) is edging higher following a lift in oil prices for a second day. Long-time CEO Peter Coleman plans to retire on 3 June 2021, four months after announcing his intentions to leave and following 10 years in the role. Meg O’Neill, Woodside Executive Vice President Development and Marketing will be appointed as acting CEO from 20 April.
Woolworths (WOW), TPG, Cash Converters (CCV), News Corp (NWS), Service Stream (SSM) and Gold Road (GOR) are all set to pay eligible investors dividends today.
Iceni Gold (ICL) – a Perth based junior gold miner – is set to make its ASX debut at 1pm AEST today. In recent days, newly listed Island Pharmaceuticals (ILA) and Delorean Corp (DEL) both rose by ~110 per cent on their market debuts.
CIMIC (CIM) is up 2.1 per cent after CEO Juan Santmaria reiterated previous profit guidance of between $400-$430m.
According to a monthly survey by Westpac and the Melbourne Institute, consumer confidence rose by 6.2 per cent in April (from March) to an 11-year high.
3.2bn shares have changed hands so far worth $3.3bn, with 747 stocks up, 491 down and 406 remaining unchanged.
Published by CommSec