The Australian stock market extended its morning gains into the lunch hour, up 0.4% at the time of writing.
The S&P/ASX 200 index rose as much as 0.4% to a four-day high of 7,532.
Tech and Health Care led the gains: Afterpay Ltd (ASX:APT) was up 2%, Appen Ltd was up 6.8%, CSL Limited (ASX:CSL) was up 1.3% and ResMed Inc up 3.2%.
However, Energy, Materials and Financials fell behind: Woodside Petroleum Limited (ASX:WPL) was down 2%, BHP Group Ltd was down 0.4% and Australia and New Zealand Banking Group Ltd was down 0.5%.
On a positive note, Australia’s current account surplus delivered a record high in the June quarter, lifting $1.5 billion over the three months to $20.5 billion.
The result comes on the back of booming commodities exports driving the trade surplus wider.
This is the ninth consecutive time Australia has recorded consecutive quarters of current account surpluses.
"Australia's June quarter record current account surplus came off the back of strong bulk commodity prices. In particular, the iron ore price drove a record metal ores and minerals export value of $53.3 billion,” ABS head of international statistics Andrew Tomadini said.
“Imports continued to rise, driven by increases in fuel imports coinciding with the opening of the Trans-Tasman travel bubble.”
Despite this, we will see a 1% drag on tomorrow’s GDP growth figures, which is in line with economists’ forecasts.
On the small cap front
Alchemy Resources Limited (ASX:ALY) is up 7.14% after unveiling its maiden mineral resource estimate for its cornerstone Karonie Gold Project in Western Australia’s Eastern Goldfields.
Valor Resources Ltd (ASX:VAL) is up 31.25% on the back of high-grade Hook Lake uranium-rare-earth-silver-lead results.
Other small caps in the green:
- AVZ Minerals Ltd (ASX:AVZ) is up 4.55%
- Apollo Minerals Limited is up 2.4%
- Blackearth Minerals NL is up 4%^
- Brookside Energy Ltd (ASX:BRK) is up 3.23%
- Compumedics Limited is up 2.44%
- Emyria Limited is up 6.82%
- Havilah Resources Ltd (ASX:HAV) is up 8.11%
- Horizon Minerals Ltd (ASX:HRZ) is up 5%
- Latin Resources Ltd (ASX:LRS) is up 6.98%
- Latitude Consolidated Ltd (ASX:LCD) is up 4.44%
- Oar Resources Ltd is up 7.69%
- Pan Asia Metals Ltd (ASX:PAM) is up 20%
- Surefire Resources NL (ASX:SRN) is up 6.25%
- Tamboran Resources Ltd (ASX:TBN) is up 6.52%
- Technology Metals Australia Ltd (ASX:TMT) is up 11.54%
- XTEK Ltd (ASX:XTE) is up 5.80%.