While multiple states continue grappling with COVID-19 outbreaks, the ASX stayed buoyant on Thursday to chalk up healthy gains for the third straight session.

Mining and materials stocks continued their rebound from earlier in the week, as both the ASX200 Resources index and the ASX200 Materials index rose by more than 2%.

Those gains comfortably outpaced the ASX200 Financials index, which finished around 0.9% higher.

The ASX200 Energy index led the way with a gain of 2.50%, as oil prices rallied although no one quite knows why.

25 BIG CAP WINNERS

(Stocks highlighted in yellow made market-moving announcements).

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Among stocks with announcements, gains were led by lithium chemicals company Orocobre (ASX:ORE), following its June quarter update where the company flagged a 31% increase in production along with improving cash flows.

Fellow lithium play Galaxy Resources (ASX:GXY) posted similar gains after releasing a quarterly report of its own, which showed record production volumes of 63,321 tonnes of lithium concentrate along with a 17% improvement in unit operating costs.

Elsewhere on the winner’s list, Contact Energy (ASX:CEN) finished 7.7% higher after flagging a registration of interest to build the world’s largest green hydrogen plant in New Zealand. Stockhead’s Josh Chiat has more here.

25 BIG CAP LOSERS

(Stocks highlighted in yellow made market-moving announcements).

Swipe or scroll to reveal the full table. Click headings to sort.

BNPL play Zip Co (ASX:Z1P) led the large cap laggards following its quarterly trading update, which saw investors send its shares more than 7% lower as transaction volumes fell ‘below expectations’, UBS said.