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Australian stocks have fallen for a third straight session with energy stocks helping to drive the ASX200 down 31.5 points or 0.5% to 5769.1.
Oil and gas companies were amongst the biggest losers after the West Texas Intermediate for delivery in March fell 5.4% to settle at US$50.02 a barrel.
Oil Search () is down 2.6% to $8.01 while () fell 3.1% to $7.72. () is down 3.1% to $34.12.
Market action here…
(ASX:AVQ) is up 10% to $0.011 with more than 11.6 million shares traded today.
In January the company extended previously reported high grade nickel laterite intersections at the Isabel Project in the Solomon Islands after including previously quarantined near-surface sles.
Top results from Isabel are now:
- 20.7 metres at 1.74% nickel from surface including 12.45 metres at 2.28% nickel from 8.25 metres(ISD14-003); and
- 15.9 metres at 1.94% nickel from 1.5 metres including 8.4 metres at 2.59% nickel from 7.5 metres (ISD14-004).
This compares to previous results of 18.2 metres at 1.88% nickel including 12.45 metres at 2.28% nickel; and 13.4 metres at 2.01% nickel including 8.4 metres at 2.59% nickel.
In addition initial drilling at the West Guadalcanal Project has assisted in building the three dimensional geological model and interpreting the orientations of the mineralised structures.
A number of companies have also reported gains of 10% of more.
() rose 11.1% to $0.01 () is up 10% to $0.011 and () jumped 38.5% to $0.018.
() climbed 19.7% to $0.365 () gained 15.2% to $0.038 and Imugene () is up 11.1% to $0.01.
Blue Chip Stocks
Major miners
() down 1.5% to $30.92
() down 1.6% to $2.45
Newcrest () down 0.5% to $14.05
(ASX:RIO) down 1.5% to $59.77
Big 4 banks
ANZ Bank (ASX:ANZ) up 0.3% to $35.01
() down 0.7% to $91.95
() flat at $37.03
() flat at $36.81
Other banks financials and industrials
() up 2.3% to $6.15
() down 0.2% to $13.65
Bendigo and Adelaide Bank () up 0.5% to $14.04
() down 0.1% to $67.41
Suncorp () down 2.9% to $14.00
() down 0.3% to $6.49
Retailers
JB Hi-FI () down 4.2% to $17.21
() up 0.0% to $44.19
Woolworths () down 0.5% to $32.12
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