S&P/ASX 200 hits 9-month high fuelled by gains for the big miners

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S&P/ASX 200 hits 9-month high fuelled by gains for the big miners

S&P/ASX 200 (INDEXASX:XJO) jumped to a new nine-month intraday high of 6594 by noon and was trading 0.50% higher at 6572 by about 1.37 pm.

Iron ore is on a 6-day winning streak, rising to nearly US$130 a tonne underpinned by robust demand from Chinese steel mills.

The price of iron ore has surged by about 10% this month and is near a 6-year high.

Local miners made solid gains with BHP Group (ASX:BHP) adding 3.32%, Rio Tinto (ASX:RIO) up 1.5% and Fortescue Metals (ASX:FMG) surging 4.48%.

Zip Co shares rise

Zip Co (ASX:Z1P) shares gained after achieving year-to-date revenue growth of 91% to $96.7 million, which included October monthly revenue of $27.6 million.

The company’s transaction volume in October more than doubled to $401.1 million and annualised transaction volume is now at $4.8 billion.

Top gainers

Today’s top gainers on the ASX include Alta Zinc Ltd (ASX:AZI) (+20.00%), Opyl Ltd (ASX:OPL) (+11.11%), Imugene Limited (ASX:IMU) (+20.00%), Corazon Mining Ltd (ASX:CZN) (+33.33%), PNX Metals Ltd (ASX:PNX) (+12.50%), Fenix Resources Ltd (ASX:FEX) (+14.29%) and BlackEarth Minerals NL (ASX:BEM) (+11.63%).

Proactive news headlines:

Pantoro’s Sailfish Prospect on the fly as results further enhance Norseman Gold Project

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Vango Mining’s initial four holes at Contessa Prospect of Ned’s Creek JV return up to 15 g/t gold and confirm open-pit resource potential

Vango Mining Ltd’s (ASX:VAN) initial four holes at the Contessa Prospect of the Ned’s Creek JV project with Lodestar Minerals Ltd (ASX:LSR) in Western Australia, show significant intersections and confirm open-pit resource potential.

Musgrave Minerals turns up the heat at Cue Gold Project with new discovery confirmed and encouraging regional results

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Artemis Resources makes deep gold-copper discovery beneath Carlow Castle resource

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Australian Potash secures fifth SOP offtake and reaches 100% of Lake Wells DFS output

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K2fly completes SATEVA integration and launches Model Manager solution to miners globally

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Imugene up 20% on unveiling positive interim data from ongoing Phase 2 study of HER-Vaxx in advanced gastric cancer

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BlackEarth Minerals encouraged by results from first field program at Donnelly River Nickel-Copper-PGM Project

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Element 25 continues to drive Butcherbird Manganese Project on fast-track to production with appointment of mining contractor

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Hot Chili’s central copper hub Costa Fuego set to be one of largest copper resources along Chilean coastal range

Hot Chili Ltd’s (ASX:HCH) (OTCMKTS:HHLKF) central copper hub, Costa Fuego, which combines all three of its projects – Cortadera, Productora and San Antonia – is set to become amongst the largest copper mineral resources along the Chilean coastal range.

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