S&P/ASX 200 falls 0.92% as Australias population growth hits 13½-year low

S&P/ASX 200 (INDEXASX:XJO) halted its two-day run of gains with a 55 point or 0.92% fall to 5,936.5.

While most sectors ended in the red, mining, retailing and communication stocks fell most. Only the utilities sector gained.

Airliners struggled with Qantas (ASX:QAN) down 3.7% as Australias national carrier will cancel most international flight until October.

Major miners declined with Fortescue Metals Group Limited (ASX:FMG) falling 4.24% and Northern Star Resources Ltd (ASX:NST) losing 1.96%.

Population growth rate eases[hhmc]

Australias population increased by 349,833 people during calendar 2019 to 25,522,169 people.

Overall, Australias annual population growth rate eased from 1.43% to 1.39% – the slowest pace in 13½ years.

Western Australia was an exception with mining activity luring more Aussies and overseas migrants to the region, helping the state post its strongest annual population growth rate in 5½ years.

Top gainers[hhmc]

It was another great day for Afterpay (ASX:APT) hitting record highs for the third day in a row.

Other top gainers on the ASX include 9 Spokes International Ltd (ASX:9SP) (+27.27%), Volt Resources Ltd (ASX:VRC) (+5.26%), Ioneer Ltd (ASX:INR) (+5.00%) and Platina Resources Limited (ASX:PGM) (+4.35%).

Proactive news headlines:

PolarX prepares for Zackly East drilling following strongly supported $3.76 million placement[hhmc]

PolarX Ltd (ASX:PXX) is preparing for a 3,000-metre drilling program at the Zackly East gold-copper skarn within its Alaska Range Project following a strongly supported $3.76 million placement. The company aims to begin the drilling in four weeks using two drill rigs with the program of 15-20 holes expected to take around six to eight weeks.

Macarthur Minerals updating Lake Giles magnetite resource ahead of feasibility study[hhmc]

Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) enjoyed an active start to 2020 with the ongoing development of its flagship Lake Giles Iron Project in Western Australia. The impacts of COVID-19 travel restrictions on operations have been minimal and the goal going forwards is to complete a feasibility study for the project.

Emperor Energy engages AGR to plan and design exploration well in Judith Gas Field offshore Victoria[hhmc]

Emperor Energy Ltd (ASX:EMP) has engaged global well management company AGR to plan and design the Judith 2 Exploration Well in Judith Gas Field in the offshore Gippsland Basin, Victoria. Judith Gas Field, which is 100%-owned by EMP and hosts a P50 unrisked prospective resource of 1.2 Tcf and a 2C contingent resource of 150 Bcf, is strategically positioned to supply high-demand east-coast energy markets in Australia.

Salt Lake Potash CEO and chairman participate in $20 million placement following shareholder approval[hhmc]

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) chief executive officer Tony Swiericzuk and chairman Ian Middlemas have shown their confidence in the company's sulphate of potash (SOP) strategy through participation in a A$20 million placement. After receiving shareholder approval for their participation, on June 17 Swiericzuk acquired 505,833 ordinary shares valued at A$172,000 in a direct interest, increasing the total number held to more than 4.016 million. On the same day, Middlemas acquired 2.25 million shares worth A$765,000 in an indirect interest, increasing the number of securities held after the change to 14.25 million.

Infinity Lithium doubles on key European partnership and investment deal[hhmc]

Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) has further strengthened its European lithium supply strategy by executing binding agreements for a multi-staged funding and added services assistance package with European Union-based innovation initiative KIC InnoEnergy SE. Shares doubled to A$0.14 on the news which sees INFs San José project in Spain become the first lithium project to secure European funding from EIT InnoEnergy, a recently launched platform created by the European Battery Alliance (EBA).

archTIS secures first commercial Defence Industry contract with Northrop Grumman[hhmc]

archTIS Ltd (ASX:AR9) has secured its first Defence Industry commercial contract with Northrop Grumman Corporation (NYSE:NOC) to purchase an initial 50 licences of AR9s Kojensi cloud platform to securely share information for its business development teams. This contract with the global US$53 billion Military System Integrator (MSI) has initial annual recurring reRead More – Source




Related Articles

Back to top button