The ASX is struggling to find traction today as news breaks that the Sydney outbreak has spread to Queensland, with the benchmark ASX200 up just 0.1% at mid-day.

It also comes as the Australian Bureau of Statistics noted that the nation’s unemployment rate fell to 4.9% in June, an improvement of 0.4 percentage points over May and the eighth consecutive monthly fall.

“The declining unemployment rate continues to coincide with employers reporting high levels of job vacancies and difficulties in finding suitable people for them,” ABS head of labour statistics Bjorn Jarvis said.

Employment numbers also increased with an additional 29,000 people finding jobs in June with the ABS noting that employment was 1.2% higher than it was at the start of the COVID-19 pandemic.

However, the number of hours worked fell by 8.4% in Victoria compared to a 0.5% increase in the rest of Australia, which Jarvis attributed to the impact of the state’s lockdown in June.
 

WINNERS

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Dateline Resources (ASX:DTR) led the pack today after a review of data discovered the potential for its Colosseum gold project to host rare earth elements at an anomaly similar to that at the nearby Mountain Pass mine.

With ongoing concerns about rare earths security, the company says it will include REE exploration in its upcoming field program.

Meanwhile, Castillo Copper’s (ASX:CCZ) drilling at the seemingly well-named Big One deposit in Queensland has intersected visible copper in two zones of 11m and 34m thickness in the same hole. The company said the intersection of massive copper sulphide mineralisation clearly verifies material extensions to known mineralisation and potentially a larger underlying system then initially envisaged.
 

LOSERS

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