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Strong results from Materials bellwethers boost ASX: Aus shares close 0.47% higher

At the closing bell, the S&P/ASX 200 was 0.47 per cent higher at 7,343.90, driven by a 1.4 per cent gain in the materials sector due to strong gains by BHP (ASX:BHP), Rio (ASX:RIO), and Fortescue (ASX:FMG).

However, there were falls in the lithium mining sector, with Mineral Resources (ASX:MIN) and Pilbara Minerals (ASX:PLS) posting losses.

Whitehaven Coal (ASX:WHC) lost 3.2 per cent on a production warning, while oil and gold producers also gave back ground after rising last week.

The tech sector added 1.4 per cent, led by NextDC (ASX:NXT) with an 8.1 per cent gain due to strong customer wins. Megaport (ASX:MP1) also rose 7.9 per cent on the back of NextDC’s updraft.


The Dow Jones futures are pointing to a rise of 17 points.
The S&P 500 futures are flat.
The Nasdaq futures are pointing to a fall of 11.5 points.
The SPI futures are pointing to a rise of 29 points when the market next opens.

Best and worst performers

The best-performing sector was Information Technology, up 1.44 per cent. The worst-performing sector was Utilities, down 0.41 per cent.

The best-performing large cap was NEXTDC (ASX:NXT), closing 8.09 per cent higher at $12.02. It was followed by shares in Infratil (ASX:IFT) and Liontown Resources (ASX:LTR).

The worst-performing large cap was Pilbara Minerals (ASX:PLS), closing 4.07 per cent lower at $3.54. It was followed by shares in Whitehaven Coal (ASX:WHC) and Qantas Airways (ASX:QAN).

Asian markets

Japan’s Nikkei has gained 0.57 per cent.
Hong Kong’s Hang Seng has lost 0.71 per cent.
China’s Shanghai Composite has lost 0.43 per cent.

Company news

RooLife Group (ASX:RLG) has been appointed by Fiji Kava (ASX:FIJ), a global beverage and natural medicine company, to market and sell Fiji Kava in China and Australia. In response, FijiKava CEO, Anthony Noble said “We can find product positioning and marketing synergies in both Australia and China to ensure a successful cross-border eCommerce venture.” Shares closed 100 per cent higher at 0.6 cents.

Toro Energy (ASX:TOE) announced that further massive nickel sulphides have been intersected at their Dimma project in WA. In response, Executive Chairman, Richard Homsany, said, “We believe Dimma has considerable potential with all four drill holes intersecting massive Ni-sulphide to date leaving the discovery open both at depth and along strike, north and south.” Shares closed flat at 1.1 cents.

Heavy Rare Earths (ASX:HRE) announced further outstanding high-grade rare earths have been intersected at their Cowalinya project in WA. the next process is to upgrade the current Inferred Resource to commence on receipt of assays from another 36 holes. Shares closed 20 per cent higher at 12 cents.

Commodities and the dollar

Gold is trading at US$2,032.80 an ounce.
Iron ore is 2 per cent higher at US$122.00 a tonne.
Iron ore futures are pointing to a 0.63 per cent rise.
Light crude is trading $0.13 higher at US$81.66 a barrel.
One Australian dollar is buying 66.64 US cents.