Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 has peaked at a record 7838 points around midday (AEDT).
Meanwhile at 2pm, the All Ordinaries index (largest 500 companies) hit 8098 points which is another all time high.
Financials is leading the sea of green as far as sectors are concerned, up about 1.75 per cent.
The Australian Bureau of Statistics (ABS) released jobs data today – reflecting a 1 per cent drop in the hours worked in the December quarter.
It’s the first time the ABS has recorded two consecutive quarters of falling growth in hours worked since March 2014.
Having said that, hours worked remain well above pre-pandemic levels.
Industrial services provider SRG Global (ASX:SRG) is up about a per cent on securing a $35 million contract to upgrade the wharf at Port Kembla in New South Wales.
The contract – through to 2026 – will include the reconstruction of the front service duct, and maintenance.
SRG has been trading at 77.3 cents.
Explorer Magmatic Resources’ (ASX:MAG) is up nearly 50 per cent after signing a joint venture farm-in agreement with Fortescue (ASX:FMG) for its Myall copper and gold project in New South Wales.
The deal will see FMG acquire a 19.9 per cent cornerstone stake in the company, while Magmatic remains the operator for up to four years.
The Myall Project will be explored for copper and gold, and FMG will spend $14 million between now and 2030 to earn up to a 75 per cent JV interest.
MAG has been trading at 6.7 cents, while FMG is down about half a per cent today.
Biotech Imricor Medical Systems (ASX:IMR) climbed more than 7.5 per cent after receiving approval for a trial for its real-time MRI-compatible cardiac ablation medical device VISABL-AFL at Lausanne University Hospital in Switzerland.
This is the first of two approvals required for the trial to proceed. The second required is from Swissmedic.
IMR has been trading at 49.5 cents.
And Magnum Mining and Exploration (ASX:MGU) has traded up as much as 30 per cent this morning after taking up 50 per cent ownership in Saudi-based metals company Midmetal.
It’s planned that Midmetal will construct and operate a Green Pig Iron making facility in Saudi Arabia. Magnum would supply iron ore and biochar to the plant from its Buena Vista project in Nevada.
Costs for the facility will be shared equally between both parties.
MGU has been trading around 2 cents.
