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There was good news for those with property investments today… the median price of a house in Australia has gone up to $933,800 – that’s a rise of $13,400 in just one quarter.
Not such good news for those trying to invest in property, as the Australian Bureau of Statistics figures came despite 52,500 homes being added to the mix in the December quarter.
Meanwhile the ASX200 has been trading up about 0.13 per cent.
The IT sector is leading intraday trades gaining 0.92 per cent. Not surprisingly Real Estate is also up about half a per cent. The Energy sector has dipped the most, losing 0.62 per cent.
In small cap news:
Recce Pharmaceuticals (ASX: RCE) has been trading up nearly 2.5 per cent after announcing it’s dosed another cohort in its phase 1-2 trial of its new anti-infective RECCE327.
3000mg has been administered intravenously over just 20-minutes.
The company has already tested dosing at four infusion times: 15 mins, 30 mins, 45 minutes and 1 hour. Each has been deemed safe in participants.
At the same time, R327 has been demonstrating promising efficacy when topically applied to diabetic foot ulcer infections.
RCE has been trading at 44 cents.
Dreadnought Resources (ASX:DRE) has regained 100 per cent ownership of the Mangaroon nickel-copper project in WA as earn-in partner First Quantum Minerals (TSX:FM) will invest in other major projects.
Dreadnought reports there’s still much work to be done along the 45km Money intrusion with outcropping mineralisation along the length. Sparse drilling had only covered 2.5 kilometres of strike.
The company plans to release further drill targets next quarter.
DRE has been trading at 1.8 cents
Southern Cross Gold (ASX:SXG) intends to dual list on the Canadian Stock Exchange (CSE) in mid-May. The company was originally spun out of Toronto-listed Mawson Gold.
The company reports 70 per cent of its shareholder base was outside Australia.
The market is responding favourably, with SXG shares up more than 15.5 per cent to just $1.975.
And Strike Energy (ASX:STX) is up 7 per cent after securing a deal with APA Group Pty Ltd to integrate up to 10 terajoules of gas per day from its Walyering field into the WA Dampier to Bunbury Natural Gas pipeline.
A new connection will be constructed to link the pipeline with Strike’s Walyering assets by later this year.
The deal provides Strike with access to a larger and more liquid gas market. Some 95 per cent of WA’s gas is sold and consumed through the system.
STX has been trading at 22.5 cents.
