Good afternoon. The ASX200 hit a new record high once again and has been up 0.8% at 8,280 points.
The iron ore price has spiked around 10% and this has boosted miners with the big players notching up big gains. BHP (ASX:BHP) up around 2%, Rio Tinto (ASX:RIO) up 2.5%, Fortescue (ASX:FMG) up 3.1%, and Mineral Resources (ASX:MIN) up around 4%.
Ten out of the 11 sectors are in the green and Energy Stocks have powered up around 2.3%, followed by Materials up 1.7% and Real Estate 1.1%.
Company News
Liontown Resources (ASX:LTR) has been up more than 3% after its first shipping of spodumene concentrate from its Kathleen Valley Lithium Project in WA. The company has launched spot sales for shipments from the port of Geraldton in WA.
Liontown Resources has been 81 cents.
Karoon Energy (ASX:KAR) has been up 5.5% after finalizing its share buy-back program. The company purchased more than $37.1 million of its own stock.
Karoon Energy has been trading at $1.55.
Percheron has been swapping hands for 11 cents.
Percheron Therapeutics (ASX:PER) has been up 10% after completing a nine-month toxicology study for its lead program avicursen. If approved, the drug will treat the rare disease Duchenne Muscular Dystrophy (DMD). The company expects to discuss results with the US Food and Drug Administration in early 2025.