Healthcare stocks have been the light of the day, pushing the ASX higher.
CSL Ltd gained 1.4% before coming back to 0.9%, Cochlear Limited added 1.7% before also coming back to 0.9% and Resmed CDI went 1.09% higher.
The S&P/ASX200 gained 37.10 points or 0.50% to 7,513.70. Over the last five days, the index has gained 1.33% but is virtually unchanged over the last 52 weeks.
Top-performing stocks in this index are Polynovo Ltd and Arcadium Lithium PLC up 6.32% and 5.33% respectively.
Looking at the sectors, most were higher. Healthcare was the best performed at 0.93% higher, with Consumer Staples following closely behind gaining 0.80%. On the flipside, Consumer Discretionary dipped 0.33% to be the worst performed, while Real Estate lost 0.18%.
As for small caps, the S&P/ASX Small Ordinaries (XSO) gained 0.21% and over the last five days is 0.24% higher.
Good news for uranium price?
The uranium price has been skyrocketing lately and could go higher, according to Shaw and Partners.
The financial services company has said investors should gain exposure to uranium before panic buying sets in as it upgraded its price forecast.
Uranium's spot price is currently around $US106 a pound on the back of supply constraints and renewed global interest in nuclear energy. Shaw and Partners expects uranium to hit $150 per pound in the next calendar year.
“Panic buying could drive the uranium price materially higher,” head of research at Shaw and Partners Andrew Hines said.
“There is a great saying in markets that ‘he who panics first, panics best’ and we recommend investors get ahead of potential panic buying.”
The broker recommended investors look at Paladin, Silex, Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF), Lotus and Bannerman.
Investors should always do their due diligence before investing.
Five at five
Element 25 on track with manganese production expansion after study outlines strong case
Element 25 Ltd (ASX:E25, OTCQX:ELMTF) has completed a comprehensive feasibility study to expand manganese production at its Butcherbird Project in Western Australia with positive outcomes providing a strong case to proceed.
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Strickland Metals sets drill spinning in maiden RC campaign at Yandal and Earaheedy
Strickland Metals Ltd (ASX:STK) has embarked on initial reverse circulation (RC) drilling campaigns at Yandal and Earaheedy, with its sights trained on the Rabbit Well prospect and pending assay results.
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Auric Mining confident stage two will build on initial Jeffreys Find gold output
Auric Mining Ltd (ASX:AWJ) is preparing to resume mining at the Jeffreys Find Gold Mine near Norseman in Western Australia and is confident that 2024 gold production will exceed the 9,741 ounces produced in 2023.
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Orion Minerals acquires 12,158 hectares of key surface rights at Okiep Projects in South Africa
Orion Minerals Ltd (ASX:ORN, JSE:ORN) has reached an agreement with Mora Plase Proprietary Limited to access and acquire the surface ownership rights of 12,156 hectares at its Okiep Copper Project in Northern Cape, South Africa.
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Cobre selected to take part in BHP’s Xplor Program with US$500,000 in exploration funding
Cobre Ltd (ASX:CBE) has been selected to participate in the 2024 BHP (ASX:BHP) Xplor cohort, an accelerator program designed to identify new critical mineral deposits by providing BHP’s expertise and funding to mineral explorers, offering an opportunity to develop a long-term partnership with the mining giant.
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On your six
Federal and NSW governments put $200 million toward energy upgrades for low income and social housing
The Federal and NSW governments have committed more than $200 million toward energy upgrades for those in social housing, as well as access to solar for low-income renters and apartment residents.
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The ones to watch
Botala Energy achieves major environmental milestone
Botala Energy Ltd (ASX:BTE) CEO Kris Martinick joins Jonathan Jackson in the Proactive studio to discuss a critical milestone in the development of the Naledi coal bed methane (CBM) gas project at Serowe, Botswana.
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Galileo Mining starts its 2024 exploration program
Galileo Mining Ltd (ASX:GAL, OTC:GLMGF) managing director Brad Underwood joins Jonathan Jackson in the Proactive Studio to discuss the launch of the company’s 2024 exploration program at its 100%-owned Norseman project in Western Australia.
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