The S&P/ASX 200 was up 1% at midday, a five-day high after a rugged week.
The top-performing stocks at time of writing were Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF) up 8.13% and Incitec Pivot Ltd (ASX:IPL) up 4.73%.
Over the last five days, the index has gained 1.34% and is currently 2.16% off its 52-week high.
Telstra Corporation Ltd (ASX:TLS) was up a modest 1.91% after announcing it was finished with cost-cutting measures and was now focusing on a new four-year growth strategy.
Much to Solomon Lew’s chagrin, Myer Holdings Ltd bounced back strongly to profitability after a horror 2020. Myer was up 10.20%.
The department store retailer unveiled a $46.4 million net profit for 2021 as sales also rebounded despite the disruptions caused by COVID-19.
Other strong performers include CBA up 1%, Macquarie up 1.6%, CSL up 0.7% and Woodside up 3% after WTI crude rose 3.1% on a US inventory draw. South32 Ltd jumped 3.3% as base metals rose about 2%.
On the small cap front
One of the biggest gainers was Jupiter Energy Limited (ASX:JPR) up 122.86%.
Twenty Seven Co Ltd (ASX:TSC) was up 50% after pinpointing a series of new lithium and tin targets within its wholly-owned Trident Project in New South Wales.
Strickland Metals Ltd (ASX:STK) was up 15.88% as it is poised to expedite mineral resource expansion at the historic Millrose Gold Project.
Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) was up 2.99% having further de-risked the Broken Hill Cobalt Project (BHCP) in Far West New South Wales with an updated mineral resource estimate that incorporates nickel.
Alkane Resources Limited (ASX:ALK) was up 2.48% on the back of its latest drill results which have the potential to expand its resource.
Other small caps of note (all percentages correct at time of writing)
- 9SP is up 3.70%
- AVZ is up 3.70%
- AQI is up 4.17%
- AQX is up 5%
- ARR is up 10%
- AON is up 6.06%
- ASM is up 3.85%
- AVL is up 4.55%
- BNL is up 6.98%
- CE1 is up 11.11%
- CCZ is up 3.12%
- CPT is up 6.9%
- CLE is up 8.33%
- EPM is up 5.66%
- ELT is up 4.55%
- EXL is up 4.76%
- EMD is up 6.38%
- EUR is up 5.26%
- FYI is up 5.33%
- FFX is up 5.88%
- FG1 is up 6.90%
- GTR is up 13.24%
- HHR is up 4.55%
- IMU is up 5.49%
- KRR is up 3.70%
- MKG is up 4.30%
- MR1 is up 12.5%
- NOX is up 3%
- OAR is up 3.85%
- PNX is up 16.67%
- PNR is up 4.76%
- PEN is up 6.67%
- PXS is up 3.70%
- POS is up 4.55%
- PDI is up 12.96%
- QPM is up 4.08%
- SNS is up 4%
- TMT is up 9.64%
- VAL is up 15%