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The ASX200 has been up 0.28% at 8,144 points.
The Index touched a new all-time high in intra day trade, hitting 8,148 points before paring back gains. The new record was set only a tenth of a point higher than the prior record in early August.
Odds of a super-sized 50 bps cut by the US Fed have increased with analysts including JP Morgan expecting a cut of this quantum. The Fed have done nothing to dampen speculation and this has only served to amplify it.
Back home, most sectors are in the green, lead by Real Estate up two thirds of a percent and IT, just under point six of a percent. Telecommunication is the worst performing sector, down around a quarter of a percent.
Company News
Winsome Resources (ASX:WR1) has been up around 1% on delivery of a capital efficient solution for North American lithium production. The scoping study conducted at Quebec’s Adina Lithium Project has confirmed its viability as one of the best quality projects in North America.
Winsome Resources has been traded at 53 cents.
Summit Minerals (ASX:SUM) has spiked more than 7.5% after its new mining lease in Ecuador returned record high grade niobium assays. Test work on 14 bulk samples has kicked off and the company is fast tracking a pathway to production.
Summit Minerals has been swapping hands at 28 cents.
Adairs (ASX:ADH) has jumped up more than 4% on the appointment of Elle Roseby as Chief Executive Officer. This is Ms Roseby’s first ASX CEO role and she previously was the Managing Director of Country Road.
Adairs has been trading at $1.82.
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