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S&P/ASX 200 still ~5% higher this week despite today’s fall in early trade

At its lows in March the ASX 200 was down 34% year-to-date but has since recovered to be down 12% for the year.

Alto Metals Ltd - S&P/ASX 200 still ~5% higher this week despite today’s fall in early trade
ASX is on track to mark its fifth consecutive weekly improvement

S&P/ASX 200 (INDEXASX:XJO) is down 1.2% or 69 points to 5,783 at lunch following overnight losses on Wall Street as US President Trump said he would hold a news conference ‘on China’ today.

Even without any details, this announcement on Thursday was enough to send markets tumbling.

Despite today’s declines the ASX 200 is still ~5% higher for the week, making it a fifth consecutive weekly improvement, while also advancing for a second month in a row.

At its lows in March the ASX 200 was down 34% year-to-date but has since recovered to be down 12% for the year.

Banks led the declines today with Westpac (ASX:WBC) and National Bank (ASX:NAB) falling around 4.5%.  However, both are still up about 17% this week.

Top gainers

Top performers on the ASX today with gains of more than 10% include Kazia Therapeutics Ltd (ASX:KZA) (+10.98%), Engage:BDR Ltd (ASX:EN1) (+10.00%), Mako Gold Ltd (ASX:MKG) (+10.77%), Euro Manganese Inc (ASX:EMN) (+20.48%), Ansila Energy NL (ASX:ANA) (+13.33%), Alto Metals Ltd (ASX:AME) (+19.35%), Corazon Mining Ltd (ASX:CZN) (+50.00%), Broken Hill Prospecting Ltd (ASX:BPL) (+10.00%) and Peel Mining Ltd (ASX:PEX) (+13.79%).

Proactive news headlines:

THC Global establishes presence in growing cannabidol medicine market

THC Global Group Ltd's (ASX:THC) first Australian-produced medicinal cannabis product has been prescribed to an Australian patient, marking a new milestone for the wholly Australian sourced and produced medicine. The product is a full-spectrum cannabidiol (CBD) medicine and these are highly sought after by patients and prescribers as they include minor cannabinoids, terpenes and flavonoids that may provide different therapeutic outcomes for patients than CBD medicine formulated from isolate.

Trigg Mining to receive infrastructure boost for Lake Throssell SOP Project from road sealing

Trigg Mining Ltd (ASX:TMG) welcomes a WA State Government and Federal Government announcement of the sealing of a 41-kilometre section of the Great Central Road which will benefit the Lake Throssell Sulphate of Potash (SOP) project. This road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will provide an infrastructure boost to the company.

Euro Manganese surges as it sets out on search for global partner

Euro Manganese Inc (ASX:EMN) (CVE:EMN) (FRA:E06) has launched a process with financial adviser Bacchus Capital Advisers (BCA) to secure a strategic partner to assist with development of Chvaletice Manganese Project in the Czech Republic. ASX shares have surged up to 50% to an intra-day high of A$0.125 cents and are up from 7.2 cents at close on May 8. The global search follows the company receiving expressions of interest from various parties to partner in the development of the important European waste recycling project.

Great Boulder Resources extends mineralisation at Winchester Nickel-Copper Sulphide Project

Great Boulder Resources Ltd (ASX:GBR) has extended sulphide mineralisation 80 metres down plunge at Winchester Copper-Nickel Sulphide Project with results of up to 4.4 metres at 0.8% copper, 4.7 g/t silver, 0.08% nickel and 0.01% cobalt from 201.86 metres. Four holes were drilled at the project, near Laverton in WA, as part of an Exploration Incentive Scheme (EIS) co-funded drilling program by the WA Government.

Anteris Technologies changes name from Admedus Ltd following shareholder approval

Anteris Technologies Ltd (ASX:AVR) has changed its name from Admedus Ltd (ASX:AHZ) following shareholder approval at the company's annual general meeting this month. Anteris is a structural heart company delivering clinically superior solutions that help healthcare professionals create life-changing outcomes for patients.

Alto Metals fields improved Goldsea takeover offer with price lifted to 7.5 cents

Alto Metals Ltd (ASX:AME) has received an improved takeover offer from Goldsea Australia Mining Pty Ltd that lifts the offer price per share by more than 15% to 7.5 cents from 6.5 cents. The new offer made in a second supplementary bidder's statement also exceeds the 6.6 cents made in in a proposal from Habrok (Alto) Pty Limited, although a formal offer for this has yet to be received.

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