The ASX Today: Oz down to ~8,750 after yet another major dumping day; Brent bulls should be fairly happy

Hello, hello, and welcome to HotCopper‘s The ASX Today for Thursday, Week 17, I’m Isaac McIntyre. Another down trading day in Week 17, so far, with Australian shares losing around -1% intraday as traders wait on any resolution to the U.S.-Iran conflict and Lebanese and Israeli peace talks in Washington.

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At least four people were killed in Israeli strikes in Lebanon in the last 24 hours, and Iran attacked three cargo ships early this morning, too.

All that’s soured any chances of a rally basically everywhere except Wall Street – and especially Down Under – and adds to Wednesday’s -1.2% close. On Monday, I mentioned 9,000pts. Today, we’re closer to 8,750.

This is all pretty good for oil bulls, though, with black gold rising for a fourth straight day this week. Brent is ~$US104 a barrel after jumping 13% these last three sessions, helped on by Trump saying April 7’s truce is now indefinite.

But hey, at least Oz earnings started, so we can talk about that over all the bearish news headlines that keep rolling out week, after week, after week.

Santos (ASX:STO) was among those with results Thursday; it was in the green after spruiking higher revenue, project ramp-ups, and steady guidance. Perseus Mining (ASX:PRU) had a similar day after heralding higher gold production.

Sandfire Resources (ASX:SFR) did head the other way, though, after the miner told shareholders copper production had fallen somewhat this last quarter.

Elsewhere, WiseTech Global (ASX:WTC) shares fell to under $45. The drop came on Wednesday’s news that WiseTech’s lead independent director, Andrew Harrison, will retire from the logistics software company’s board in June; today was the first chance markets had to react to the surprise exit.

Deep Yellow (ASX:DYL) enjoyed a fairly good day in the green after confirming that drilling at Tumas had been successful. Deep Yellow confirmed the presence of uranium mineralisation in calcretised palaeochannel sediments, as well as in joints and fractures within schistose basement lithologies.

Finally, Resolute Mining (ASX:RSG) advanced after the gold miner reported that it had increased revenue to $337.6 million in the last quarter.

That’s the ASX Today, and I’m Isaac McIntyre. See you in the morning.

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