As predicted, the ASX has had a strong morning, with the S&P/ASX200 is up 75.80 points or 1.04% to 7,372.70.
The top-performing stocks at time of writing were News Corp (NASDAQ:NWS)oration up 9.06% and Bapcor Ltd up 6.79%.
As reported earlier, News Corp has approved a $US1 billion (A$1.4 billion) stock buyback.
The index has lost 1.17% for the last five days but sits 3.41% below its 52-week high. It was up on light volume at midday after hitting a 3-day high of 7382.6.
The market has seemed to like Evergrande’s turnaround, with the China company’s shares surging 27% in Hong Kong.
- S&P 500 futures are up 0.3% and iron ore futures around $US100.20, about 10% above Wednesday's ASX close.
- Fortescue Metals is up 2.5% and BHP rose 0.2%. Rio Tinto rose 0.9%.
- IT was the strongest sector: Afterpay was up 4.5% after its acquirer, Square, rose 3.8%.
- Energy also outperformed after WTI jumped 2.5% to $US72.23 overnight. Woodside is up 2.1% and Santos up 3.3%.
- Banks rose as well with CBA up 1.3% and Macquarie up 2%.
On the small cap front
Of the big performers we saw Kingsgate Consolidated Limited (ASX:KCN) rise 46.95% and Orion Metals Ltd (ASX:ORM) rise 38.89%.
Miramar Resources Ltd (ASX:M2R) rose 27.78% on the back of multiple high grade gold results from Marylebone.
Twenty Seven Co Ltd (ASX:TSC) is up 20% having returned to the field for a geochemical sampling campaign over the Trident Lithium Project in Far West New South Wales.
Cervantes Corporation Limited is up 12.50% having fielded its first assays from reverse circulation (RC) drilling at the Blue Heaven Prospect of the Primrose Gold Project in WA.
Zelira Therapeutics Ltd (ASX:ZLD, OTCQB:ZLDAF) is up 10.53% after launching its new line of CBD-based acne and skin products, RAF FIVE™.
Predictive Discovery Ltd (ASX:PDI) is up 6.90% following the discovery of new shallow high-grade gold intersections within 1.5 kilometres of the NE Bankan prospect.
Kin Mining NL (ASX:KIN) is up 4.76% after boosting its mineral resource estimate (MRE) for the Cardinia Hill gold deposit by 45,000 ounces.
Pantoro Ltd (ASX:PNR) is up 2.33% after it executed a $30 million corporate finance facility that helps fully underwrite its construction and operational obligations at the Norseman Gold Project.
Other small cap movers
- 9SP +4.17%
- AVZ +3.64%
- AR9 +2.90%
- ARN +3.49%
- AQX +10%
- ARR +5.88%
- AND +3.57%
- AZY +2.08%
- AON +3.09%
- ARU +13.33%
- AUN +11.43%
- AGC +13.04%
- AVL +4.55%
- BEM +3.57%
- BSX +3.30%
- BNL +12.24%
- BOA +11.11%
- CE1 +5.13%
- CDX +3.33%
- CCZ +3.33%
- CHN +3.37%
- CHM +6.35%
- CMP +10.35%
- CZN +2.7%
- CXO +7.41%
- CPH +4.55%
- E25 +3.06%
- EMN +2.91%
- EUR +7.53%
- FAR +5.33%
- FYI +5.48%
- FEX +8.33%
- GGG4.17%
- HAV +2.63%
- HFR +4.08%
- INF +4.17%
- INR +4.40%
- KZA +5.44%
- KWR +8.7%
- LRS +2.33%
- LIT +2%
- MKG +2.17%
- NXM +11.29%
- OKR +6.09%
- OBM +2.5%
- PNX +7.14%
- PVW +7.69%
- PAM +3.19%
- PAR +8.82%
- PAB +5%
- PEC +4.55%
- PLL +5.07%
- POL +16%
- POS +5%
- QPM +4.17%
- SHP +2.05%
- SOR +3.17%
- TMT +6.25%
- TEM +4.35%
- TMR +5.13%
- VMS +16%
- VRC +6.45%
- WKT +5.13%
- WWI +8.51%
- WRM +3.51%