Australia

S&P/ASX 200 tumbles 1.9% ending six straight weeks of gains

S&P/ASX 200 (INDEXASX:XJOASX) closed 113 points or 1.9% weaker at 5,848 after regaining a portion of its 3.4% loss from the first hour of trade.

It was a second successive day of losses after a seven-session winning streak and brought an end to the run of six consecutive weekly improvements.

The sell-off was sparked by growing investor concern for the potential of a second wave of COVID-19 infections as lockdown restrictions ease.

However, US futures which pointed to a rebound on Wall Street cushioned the fall.

Big decliners


The banking, energy, retail and travel stocks which benefitted most from the recent recovery rally were among the largest decliners today.

Defensive oriented sectors such as staples and health performed better with some gold miners improving.

Top gainers on the ASX today include Nelson Resources Ltd (ASX:NES) (+12.20%), Domacom Australia Ltd (ASX:DCL) (7.84%), Argonaut Resources NL (ASX:ARE) (+14.29%) and De Grey Mining Limited (ASX:DEG) (+6.35%).

Proactive news headlines:

Bellevue Gold remains Macquaries preferred exploration and development story in the ASX gold sector


Bellevue Gold Ltd (ASX:BGL) (OTCMKTS:BELGF) recently hit 17 metres at 4.2 g/t gold in its first regional hole drilled on the 20-kilometre Bellevue Trend in Western Australia. This hole at Government Well prospect is about 7 kilometres from the existing 2.2-million-ounce at 11.3 g/t inferred resource at Bellevue Gold Project. Macquarie Research has retained its Outperform recommendation for Bellevue and has increased its target price by 33% to $1.20 per share (current price: 96 cents).

Bryah Resources raising up to $1.55 million ahead of follow-up drilling


Bryah Resources Ltd's (ASX:BYH) placement, which will raise up to $1.55 million, has been strongly supported by new investors and existing shareholders. The company has received binding commitments for the placement of 31 million shares at an issue price of 5 cents per share. Proceeds will be used for exploration on the companys high-priority gold and copper prospects in the Bryah Basin in Western Australia.

archTIS completes $2.24 million capital raising to drive Kojensi Platform growth


archTIS Ltd (ASX:AR9) has raised $590,750 from a share purchase plan (SPP), which follows a $1.65 million placement completed in May with funds to continue driving pipeline growth and execution of sales of the Kojensi Platform. Around 10.7 million new shares are expected to be issued at a price of 5.5 cents per share by Monday, June 15, 2020.

Core Lithium closes share purchase plan early after attracting strong support


Core Lithium Ltd (ASX:CXO) has closed its $1.5 million share purchase plan (SPP) early after receiving strong support with applications in excess of $2.1 million. This follows a successful placement last month to institutional and sophisticated investors to raise a total of $5.5 million before costs and the recently secured first European offtake MoU for the Finniss Lithium Project in the Northern Territory.

Yandal Resources sets sights on raising $3.3 million to accelerate gold exploration


Yandal Resources Ltd (ASX:YRL) aims to raise to around $3.342 million in a pro-rata non-renounceable rights offer with funds to accelerate exploration of its highly prospective gold projects in Western Australia. The company will issue up to 13.369 million shares at 25 cents per share in the offer on the basis of one new share for every five shares.

Piedmont Lithium raises US$13 million after completing US public offering


Piedmont Lithium Ltd (ASX:PLL)( NASDAQ:PLL) has completed its US public offering of 2.065 million American Depositary Shares (ADS), each representing 100 of its ordinary sharRead More – Source