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The ASX200 has closed up 0.24% at 8,141 points, after the market hit a new all time record in intra-day trade, and spent the rest of the session loitering just below this level.
The Aussie bourse has climbed more than 7.3% this year and is now flirting with the prospect of a double digit year.
Chances of a 50bps cut by the US Fed on Thursday Sydney time are now 2 in 3, and the central bank has not countered the speculation. Some analysts say an American soft landing is in sight and its now all down to the execution.
Back home, it’s been a green ocean and IT lead the way, up 1.1%, followed by Real Estate, up around point seven of a percent and Industrials more than a third of a percent.
In the Green
Siren Gold (ASX:SNG) jumped more than 9.6% as the company flagged its antimony resource had spiked 66% to 14,500 tonnes at the company’s Auld Creek prospect of interest.
Siren Gold closed at 6.8 cents.
Meanwhile, former market darling Chalice Mining (ASX:CHN) jumped more than 2.8% after the WA State Government started formally considering its Gonneville project north of Perth.
Chalice last traded $1.27.
Finally, niobium darling WA1 Resources (ASX:WA1) closed up more than 6.2% after signing a Native Title agreement over the construction of an access road.
WA1 finished at $14.66.
In the Red
Battery minerals producer Liontown Resources (ASX:LTR) closed down around 3% no news being released.
However, most lithium-related stocks are down today, suggesting confidence in the metal’s price forecast is less than positive.
Liontown Resources closed at 65 cents.
Retailer Harvey Norman (ASX:HVN) closed down more than 2.4%.
The drop in share price echoed a previous slide at the end of last month, after a decline in net profit of 30% year-on-year for FY24 to $541.7 million.
Harvey Norman closed at $4.81.
Brazilian Rare Earths (ASX:BRE) closed down 1.8% after appointing Renato Gonzago as Group CFO. Mr Gonzago has advanced within the company and brings 15 years of international experience to the role.
Brazilian Rare Earths closed at $2.70.
