The Stocks in Action || Why These ASX Stocks Are The Talk Of The Town Today?

This is The Stocks in Action show. Let’s have a look at ASX 200 and the ASX listed stocks that are trending today. 

• The S&P/ASX200 is up today, gaining 16.60 points or 0.23 per cent to 7276.70 and setting a new 100-day high. The top performing stocks in this index are ARB CORPORATION, up 5.43 per cent and RELIANCE WORLDWIDE, up 4.82 per cent respectively.

• China's steel market has reached an inflection point with a lot of uncertainty around the near-term direction, borne out by extreme volatility in the physical and futures prices. according to S&P Global Platts.

• Platts Analytics has upgraded its forecast for crude steel production in 2021 to an 8.6 per cent increase year on year from an earlier forecast of 2 per cent growth on the year.

• President Biden also has indicated that he may be willing to accept a US$1 trillion infrastructure bill during a meeting with Republican Senator Shelley Moore on Wednesday.

• Markets appeared to adopt a wait and watch approach amid mixed cues from the economy. While the pandemic situation has improved, consumer demand has returned, and production picked up, concerns over inflation, which can eat into investors' profits, dashed the enthusiasm.

• Aussie gold stocks set to post the worst day in over a month as bullion prices slip.

• Silver Lake Resources plummeted as much as 7.7 per cent and West African Resources plummeted as much as 7.8 per cent.

• Anax Metals Limited has entered into a binding royalty agreement with Anglo American Marketing Limited, a subsidiary of Anglo American Plc, for the development of the Whim Creek Project.

• Lithium and boron explorer pioneer has shared that the progress of Company’s proposed Rhyolite Ridge lithium mine in the U.S.

• Volt Resources executed a loan agreement for US$8.5 million with European investment company JES Green Investments.

• The Reject Shop Ltd announced that the coronavirus lockdowns have continued to negatively impact its sales, and the trading activity was ‘well below’ the pre-pandemic levels.

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