Proactive’s Tylah Tully provides a market wrap for December 3.
The ASX closed 0.63% higher at 8,500.9 points, marking a 1.69% gain over the past five days and nearing its 52-week high.
The top-performing stock was Star Entertainment Group Limited, which surged 9.52% following its announcement of a new $200 million debt facility split into two $100 million tranches.
In contrast, Northern Star Resources Ltd (ASX:NST) dropped 3.13% to $16.07 per share after revealing its acquisition plans for De Grey Mining Limited (ASX:DEG), which will expand the company’s mineral resources to more than 74 million ounces and ore reserves to 26 million ounces.
Sector performance was largely positive, with healthcare leading at 1.33% growth, followed by consumer discretionary at 1.21%. Utilities underperformed, declining by 0.51%.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) was up to 36.96% higher today to $0.063 and received a 'speeding ticket' from the ASX, which asked the company to explain the recent price movements and increased volume.
Other strong small cap sector moves came for Kali Metals Ltd (ASX:KM1), which was as much as 17.39% higher to $0.135, AuMega Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF) increased by 16.22% to a daily high of $0.043 and Yandal Resources Ltd (ASX:YRL) hit $0.24, a rise of 14.29% on the previous close.
Also moving higher were Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF), rising 7.69% to $0.042, Magnetite Mines Ltd (ASX:MGT) up 7.41% to $0.145, Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF), which was up to 6.98% higher to $0.46, Empire Energy Group Ltd (ASX:EEG, OTC:EEGUF) hit $0.23, a rise of 4.55%, Tamboran Resources Corp was as much as 3.85% higher to $0.135 and Latin Resources reached $0.175, an increase of 2.95%.