War in Israel sparked spikes in gold and oil stocks. Picture Getty
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The ASX rose +0.2% on Monday, driven mainly by a 3% surge in the Energy sector.
Oil and coal stocks rose broadly following the breakout of Israel’s war with Hamas over the weekend. At the time of writing, the benchmark Brent is trading at US$87.57 a barrel, which is up almost 4% vs Friday’s close.
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman told CNBC that OPEC+ will “remain cautious” on any moves to expand or cut its oil outputs as the fighting continues.
Gold stocks also climbed as the clash raised the potential for a wider regional conflict, which boosted demand for safe haven bullions. This came as President Biden pledged “rock solid” US support for Israel.
The US dollar has also climbed amid the latest turmoil, with the AUD now skidding to 63.54c.
But with the US markets closed tonight for Columbus Day, Wall Street will have to wait until Tuesday to gauge the reaction of US traders.
Elsewhere, Chinese stocks also fell as traders returned from a week’s long national holiday. Property woes remain a top concern, but Chinese retail sales data from the holiday period have disappointed.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DEG | De Grey Mining | 1.23 | 10.09 | 10,730,870 | 2,005,991,341 |
| EVN | Evolution Mining Ltd | 3.58 | 7.04 | 5,480,563 | 6,136,194,119 |
| CEN | Contact Energy Ltd | 7.73 | 5.89 | 3,363 | 1,852,841,463 |
| CMM | Capricorn Metals | 4.34 | 5.47 | 643,636 | 1,545,188,099 |
| PRU | Perseus Mining Ltd | 1.61 | 5.39 | 3,194,954 | 2,100,729,598 |
| KAR | Karoon Energy Ltd | 2.57 | 5.33 | 2,744,796 | 1,382,308,822 |
| NCM | Newcrest Mining | 25.50 | 5.07 | 2,210,720 | 21,702,979,866 |
| RRL | Regis Resources | 1.59 | 4.95 | 2,236,913 | 1,144,338,294 |
| GMD | Genesis Minerals | 1.40 | 4.87 | 3,180,540 | 1,385,474,345 |
| BGL | Bellevue Gold Ltd | 1.44 | 4.36 | 1,770,902 | 1,573,889,560 |
| RED | Red 5 Limited | 0.31 | 4.24 | 18,743,761 | 1,021,345,829 |
| NST | Northern Star | 11.22 | 3.84 | 3,853,940 | 12,398,540,173 |
| STO | Santos Ltd | 7.62 | 3.61 | 5,582,723 | 23,871,131,263 |
| GOR | Gold Road Res Ltd | 1.74 | 3.58 | 1,312,891 | 1,808,368,053 |
| RMS | Ramelius Resources | 1.64 | 3.31 | 8,826,321 | 1,774,898,172 |
| NAN | Nanosonics Limited | 4.15 | 2.72 | 255,879 | 1,222,534,769 |
| PXA | Pexagroup | 10.36 | 2.68 | 433,667 | 1,789,467,282 |
Gold miners De Grey (ASX:DEG), Evolution Mining (ASX:EVN) and Newcrest (ASX:NCM) were the major winners today as war rages.
Energy stocks Contact Energy (ASX:CEN) and Karoon Energy (ASX:KAR) also surged on rising oil prices.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AZS | Azure Minerals | 2.06 | -14.17 | 13,930,008 | 1,047,102,091 |
| MFG | Magellan Fin Grp Ltd | 6.73 | -6.27 | 3,174,433 | 1,302,681,035 |
| PLS | Pilbara Min Ltd | 3.77 | -3.71 | 21,866,493 | 11,766,999,001 |
| QAN | Qantas Airways | 4.87 | -3.18 | 7,292,162 | 8,674,007,040 |
| EBO | Ebos Group Ltd | 32.21 | -2.54 | 9,835 | 6,339,093,612 |
| CCP | Credit Corp Group | 17.60 | -2.49 | 113,815 | 1,228,606,751 |
| 360 | Life360 Inc. | 8.22 | -2.32 | 107,775 | 1,686,934,113 |
| RDX | Redox Limited | 2.20 | -2.22 | 118,409 | 1,181,433,213 |
| MIN | Mineral Resources. | 59.65 | -2.13 | 585,385 | 11,896,612,787 |
| GNE | Genesis Energy Ltd | 2.32 | -2.11 | 13,890 | 2,524,694,552 |
| DXS | Dexus | 7.20 | -2.11 | 1,123,150 | 7,905,404,558 |
| MCY | Mercury NZ Limited | 5.58 | -2.11 | 6,606 | 7,929,995,262 |
| JDO | Judo Cap Holdings | 0.94 | -2.08 | 1,189,014 | 1,064,928,800 |
Azure Minerals (ASX:AZS) announced that maiden test work at its giant Andover hard rock lithium project is off to a great start, returning grades of 5.59% Li2O spodumene concentrate with a recovery of 82.37%. Mineralisation is well-suited to industry standard floatation processing, and further test work is expected to improve recoveries.
Now read: Test work returns outstanding 5.59pc lithium concentrate, recovery of 82.37pc at Azure’s Andover
At Stockhead we tell it like it is. While Azure Minerals is a Stockhead advertiser, it did not sponsor this article.
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