ASX climbs back but this explorer jumped 33.3%

Australian stocks have bounced back despite ongoing concerns about Greece with the All Ords rising 34.6 points or 0.6% to 5451.2.

This is due to buyers taking advantage of yesterday’s fall as well as a rebound in Chinese stocks.

Resource stocks were amongst the biggest gainers with the Energy Index rising 1.1% to 10945.7.

Woodside Petroleum (ASX:WPL) rose 0.7% to $34.22 however Oil Search (ASX:OSH) fell 0.4% to $7.13 while Santos (ASX:STO) is down 1.2% to $7.84.


Market Action here…

Latin Resources (ASX:LRS) jumped 33.3% to $0.012 with more than 4.4 million shares traded.

The company has negotiated new terms with the Guadalupito project vendors that mean that it no longer needs to continue with cash payments until completion of the Definitive Feasibility Study.

It has also reduced the price it has to pay the vendors by US$7.2 million.

The new terms facilitate the company’s goal of attracting direct investment in the project from a joint venture partner.

Guadalupito hosts a JORC Inferred Resource of 1.3 billion tonnes at 5.7% heavy minerals as well as a conceptual exploration target of between 3.9 billion and 5.1 billion tonnes grading 3.2% to 8.4% heavy minerals.

Cellmid (ASX:CDY) rose 11.1% to $0.03 with almost 3.8 million shares traded Aspire Mining (ASX:AKM) climbed 15.8% to $0.022 while Imugene (ASX:IMU) is up 10% to $0.011.


Blue Chip Stocks

Major miners
 
BHP Billiton (ASX:BHP) up 0.4% to $27.05
Fortescue Metals Group (ASX:FMG) down 1.4% to $1.9
Newcrest (ASX:NCM) down 0.7% to $13.03
Rio Tinto (ASX:RIO) up 1.1% to $53.86


Big 4 banks

ANZ Bank (ASX:ANZ) up 0.7% to $32.31
Commonwealth Bank (ASX:CBA) up 0.7% to $85.29
National Australia Bank (ASX:NAB) up 0.5% to $33.37
Westpac (ASX:WBC) up 0.7% to $32.24


Other banks financials and industrials

AMP (ASX:AMP) up 1.0% to $6.01
Bank of Queensland (ASX:BOQ) up 2.0% to $12.80
Bendigo and Adelaide Bank (ASX:BEN) up 0.6% to $12.29
Macquarie Group (ASX:MQG) up 1.2% to $81.48
Suncorp (ASX:SUN) up 0.9% to $13.45
Telstra (ASX:TLS) up 1.3% to $6.15


Retailers

JB Hi-FI (ASX:JBH) down 0.2% to $19.49
Wesfarmers (ASX:WES) up 1.0% to $39.10
Woolworths (ASX:WOW) down 0.1% to $26.95

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