The ASX200 has hit a new record high, gaining 0.7% to close at 8,461.5 points with eight of the 11 GICS sectors ending higher.
Healthcare stocks led the rally (+1.8%) as Pro Medicus gained more than 9% to reach $249.07 per share after signing a 10-year $330 million contract with Trinity Health. CSL and ResMed each rose by more than 1%.
Financials rose 1.1% as IAG (LON:ICAG) lifted 3.9% on news it has acquired 90% of the insurance business of RACV. All major banks ended the session higher.
Activist group, The Environmental Defenders Office, must pay $9 million to Santos failing in its bid to block the $5.8 billion Barossa LNG development. STO successfully defended a claim that a 262-kilometre pipeline for the project would cause irreparable cultural damage.
However, that’s not the end to Santos’ legal issues with the ACCR claiming that the energy giant’s plan to reach net zero by 2040 is “little more than a series of speculations” that were “cobbled together in a matter of weeks”.
Read more: Regulators crack down on greenwashing as climate disclosures become law
Greens support Labor to pass 27 bills
The Australian Greens have reached an agreement with the Labor Government to pass 27 bills through parliament in this final parliamentary sitting week of the year, securing significant amendments in return.
This move allows for key legislation to be passed, including the Future Made in Australia Bill, Reserve Bank reforms, the Build-to-Rent Bill and superannuation changes.
The Greens negotiated to exclude coal, oil, and gas projects from government support, and for Export Finance Australia to be barred from financing any fossil fuel projects, both domestically and internationally.
Greens leader Adam Bandt emphasised the impact of this measure, stating, "In negotiations on Future Made in Australia, the Greens have stopped billions of dollars of public money going into coal, oil and gas projects, here or overseas."
Small cap moves
Positive moves in the small-cap sector were made by the following: Artemis Resources jumped 25% to a daily high of $0.01, Cyclone Metals Ltd (ASX:CLE) was as much as 13.04% higher to $0.026, European Lithium Ltd (ASX:ASX:EUR, OTCQB:EULIF) increased 10% to $0.033, Spenda was 10% higher at $0.011, Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) climbed 9.09% to $0.24, Arovella Therapeutics Ltd (ASX:ALA) reached $0.19, a 5.56% increase, Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) was 5.2% higher to $0.81 and Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) hit $9.90, a 4.21% increase on the previous close.
Five at Five
Cyprium Metals robust Nifty pre-feasibility study points to $1,129 million pre-tax NPV and 797,000-tonne ore reserve
Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) has released a robust pre-feasibility study (PFS) for the Nifty Copper Complex in Western Australia, which confirms the economic value of redeveloping the project to produce copper concentrate on a large scale
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Artemis Resources unearths rock chips up to 45.8 g/t gold and 10.3% copper at Thorpe prospect, Karratha Project
Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) has delivered promising gold and copper grades in rock chip sampling at Karratha Gold Project’s Thorpe prospect in the Pilbara region of Western Australia, with results up to 45.8 g/t gold and 10.3% copper.
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Synertec Corporation lifts Powerhouse revenue 68% year-on-year with 99.9% reliability
Synertec Corporation Ltd (ASX:SOP) made great strides in commercialising its Powerhouse energy storage units, increasing revenue for the product 68% year-on-year (YoY) and 187% between the third quarter of FY2024 and the first quarter of FY2025.
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Green Technology Metals continues to field thick, high-grade results from Root Lithium Project in Canada
Canada-focused multi-asset lithium business Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has been hard at work at the Root Lithium Project in Ontario, where it continues to find thick, high-grade lithium grades in ongoing drilling.
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West Wits Mining appoints experienced African mining executive Rudi Deysel as CEO
The board of West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) has tapped seasoned mining executive Rudi Deysel to lead the company as CEO, effective December 1, spearheading its push to gold production in his native South Africa.
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On your six
Major corporations install record levels of solar and storage infrastructure
A report from the Solar Energy Industries Association (SEIA) has revealed major corporations are funding swathes of renewable energy production and storage infrastructure in the US, consisting almost entirely of solar and battery technology.
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One to watch
QMines maiden Develin Creek drilling confirms shallow, high-grade copper and zinc deposit
QMines Ltd (ASX:QML) executive chair Andrew Sparke joins Tylah Tully to discuss results from a maiden drilling program at the Develin Creek project approximately 90 kilometres northwest of Rockhampton in Queensland.
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