The Last Trade || The spike in COVID-19 cases in India dent demand for transport fuel. How?

The market is trading near day’s high at the close, after the Reserve Bank of Australia’s (RBA) maintained status quo in its latest policy announcement and upgraded the country’s GDP growth estimates. The benchmark index ASX 200 was up 35.5 points or 0.51% to trade at 7,064. Eight of 11 sectors are trading in green, while Material is the best performing sector. Other sectors that lead on ASX include Energy, Industrials, Consumer Discretionary, Consumer Staples, Utilities, Telecommunications Services and A-REIT. While Information Technology, Healthcare and Financial sectors are among top losers. 

Heavyweight miners, especially gold explorers, are the top performers on ASX 200, while technology and financial stocks were major losers.  Among the individual stocks, Silver Lake Resources Limited (ASX:SLR) was top gainer, rising as high as 7.6% to AU$1.83, owing to weakness in bond yield and US dollar. The gold shares have performed on a strong note in the past few days following the US Federal Reserve’s decision to keep rates on hold. 

Mobecom Limited shares were spotted trading at A$0.034 after the company announced that it had signed a share purchase agreement to acquire 100% of Neat Tickets Pty Ltd, a business trading at Neat Ideas for A$2,040,000, plus up to 1,500,000 shares in MBM. 


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