The ASX200 is up 0.9% to 7,991 points in lunchtime trade.
Inflation data this week has investors nervous the Reserve Bank could hike interest rates. The moves of other major central banks are also being watched – most importantly, the US Federal Reserve.
The Bank of England also announces a rate decision this month, the first under a new Labor government.
All sectors are up, and IT is leading up 1.43%, closely followed by Energy 1.22% and Telecommunication 1.18%.
Company News
Invictus Energy (ASX:IVZ) is up 9% after announcing a US$10 million capital raise at 10 cents per share, to support the Cabora Bassa Project in Zimbabwe.
The company will be dual listed, hitting the boards on the Victoria Falls Stock Exchange (VFEX), to facilitate liquidity of the stock. This is not the first time the company has turned to Zimbabwe for further capital.
Invictus Energy has been trading at 8.5 cents.
Energy Resources of Australia (ASX:ERA) is up more than 9% after Boss Energy (ASX:BOE) made a conditional offer to buy its Jabiluka project for $550 million.
But, the offer was immediately withdrawn after the NT Government indicated it will not renew the Jabiluka Mineral Lease.
Energy Resources of Australia has been trading at 3.5 cents, and Boss Energy has been trading at $3.50.
Arafura Rare Earths (ASX:ARU) is up 3% after announcing an update to its gas supply agreement with the Mereenie Joint Venture.
A group of 4 companies willprovide 16.44 petajoules of gas to Arafura’s Nolans project over the life of the project.
The company is set to receive 5.49 petajoules in 2028, when production begins.
Arafura Rare Earths has been trading at 17.5 cents.
Perth-based Catalano Seafood (ASX: CSF) has been delisted from the ASX today. The company listed in February last year with a $5 million IPO, and after a period of voluntary administration, is now owned by turnaround specialists Avior Capital.
And Caprice Resources Limited (ASX:CRS) has appointed Luke Cox as its new CEO. A geologist with over 25 years mining industry experience, his prior role was CEO at Green Technology Metals (ASX:GT1).
Caprice Resources has been trading at 2.9 cents.