ASX powers up but this explorer jumped 26.7%

(MENAFN- ProactiveInvestors)

Australian stocks have picked up the pace rising with the All Ords rising 82.5 points or 1.6% to 5133.5.

Energy stocks led the way spurred on by Woodside Petroleum (ASX:WPL) making a non-binding $11.7 billion takeover bid for fellow liquefied natural gas producer Oil Search (ASX:OSH).

WPL was down 3% to $29.66 while OSH jumped 17.4% to $7.90.

Santos (ASX:STO) rose 5.25% to $4.41


Market Action here…

Chinalco Yunnan Copper (ASX:CYU) gained 26.7% to $0.019 after teaming with major shareholder Yunnan Copper Industry (Group) Co Ltd to acquire copper mining projects in the Democratic Republic of Congo.

A transaction could be announced within the next 4-6 weeks.

Given China's Yunnan Copper Industry's (YCI) presence in the DRC is significant CYU could be presented with a smaller scale processing and smelting operation that could generate cash flow generating returns for CYU.

BBX Minerals (ASX:BBX) climbed 27.8% to $0.023 with more than 1.8 million shares traded and Avalon Minerals (ASX:AVI) rose 15% to $0.023.


Blue Chip Stocks

Major Miners
 
BHP Billiton (ASX:BHP) up 2.1% to $24.70
Fortescue Metals Group (ASX:FMG) up 1.8% to $1.96
Newcrest (ASX:NCM) up 1.7% to $11.57
Rio Tinto (ASX:RIO) up 2.2% to $50.22


Big 4 banks

ANZ Bank (ASX:ANZ) up 3.1% to $27.53
Commonwealth Bank (ASX:CBA) up 2.6% to $74.17
National Australia Bank (ASX:NAB) up 2% to $30.20
Westpac (ASX:WBC) up 2.4% to $30.52


Other banks financials and industrials

AMP (ASX:AMP) up 2% to $5.72
Bank of Queensland (ASX:BOQ) up 1.8% to $12.12
Bendigo and Adelaide Bank (ASX:BEN) up 1.8% to $10.37
Macquarie Group (ASX:MQG) up 1.7% to $74.53
Suncorp (ASX:SUN) up 1.0% to $12.42
Telstra (ASX:TLS) up 1.4% to $5.68


Retailers

JB Hi-FI (ASX:JBH) up 2.1% to $18.50
Wesfarmers (ASX:WES) up 1% to $39.79
Woolworths (ASX:WOW) up 0.04% to $25.33

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