The Australian All Ordinaries gained 1.7% to 5,388 points today on positive trading across the index’s driving economic sectors.
Information technology stocks helped lead the way, with the sector gaining 2.2% on the session. Miners also had a good day, with the materials sector enjoying a 1.9% higher close and one junior marking a standout show with news from New South Wales’ Silver City.
MARKET ACTION
Impact Minerals (ASX:IPT) shares gained as much as 77.4% in exceptionally high trading volumes today before finishing 32.3% up at A$0.041 on excellent multi-metal drilling results at the Red Hill area of the company's Broken Hill project.
This close represents a 241.7% improvement for the stock since March.
Drill Hole RHD012 highlights from a true width of 1.2 metres include: 10.4g/t platinum, 10.9g/t gold, 294g/t (9.5 ounces) palladium, 7.4% nickel, 1.8% copper and 19 g/t silver within a thicker zone of:
- 3.5 metres at 5g/t platinum, 6g/t gold, 144g/t (4.6 ounces) palladium, 2.9% nickel, 2.3% copper and 14.5g/t silver, including 0.5 metres at 5g/t platinum, 6.6 g/t gold, 141g/t (4.6 ounces) palladium 1.3% nickel, 10.4% copper and 82g/t silver.
Exceptional platinum group metals, gold, copper, nickel and silver results from Red Hill have delivered a near five-fold rerating for Impact since April this year – but this could be just the beginning.
A well-funded Impact will be re-starting drilling as soon as possible, and will therefore deliver strong near-term news flow.
BLUE CHIPS
Major miners
BHP Billiton (ASX:BHP) up 2.0% to $24.59
Fortescue Metals Group (ASX:FMG) up 3.2% to $2.58
Newcrest (ASX:NCM) down 0.1% to $13.85
Rio Tinto (ASX:RIO) up 1.4% to $53.39
Energy or Oil and Gas
Oil Search (ASX:OSH) up 0.1% to $7.45
Santos (ASX:STO) up 2.2% to $6.46
Woodside Petroleum (ASX:WPL) 0.5% to $31.10
Big 4 banks
ANZ Bank (ASX:ANZ) up 1.0% to $28.90
Commonwealth Bank (ASX:CBA) up 1.2% to $77.35
National Australia Bank (ASX:NAB) up 1.9% to $32.44
Westpac (ASX:WBC) up 1.7% to $31.56
Other banks, financials and industrials
AMP (ASX:AMP) up 2.2% to $5.95
Bank of Queensland (ASX:BOQ) up 2.1% to $13.55
Bendigo and Adelaide Bank (ASX:BEN) up 3.4% to $10.70
Macquarie Group (ASX:MQG) up 1.4% to $83.24
Suncorp (ASX:SUN) up 1.6% to $13.30
Telstra (ASX:TLS) up 1.6% to $5.58
Retailers
JB Hi-FI (ASX:JBH) up 1.5% to $18.44
Wesfarmers (ASX:WES) up 1.8% to $41.68
Woolworths (ASX:WOW) up 3.8% to $27.81
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