The ASX lifted 0.38% in early trading, buoyed by gains in the 'Big Four' banks which initially lifted between 0.1% and 1%, as well as a positive note by USB analysts boosting fast food chain Guzman y Gomez 4.90%.
Materials was also up 0.14%, as an injection of government funding lifted Pilbara Minerals 4.09% and International Graphite Ltd (ASX:IG6) 22.92% to $0.059 per share.
The momentum was not to last, however, and the ASX has now fallen 11.8 points below its starting point, a 0.14% loss to 8,219.20 points.
With 9 of 11 sectors in the red, Comm Services (-1.12%) and Info Tech (-1.04%) led the bourse lower. Big cap WiseTech Global Ltd lopped 3.17% off its share price, while Xero Ltd managed a 0.52% gain to its shares despite the market’s sentiment.
The standout sectors today were Consumer Discretionary, up 0.32% with strong movement from mid-cap stocks including Guzmans, and Real Estate, gaining 0.28%, as Stockland Corporation lifted 1.97% and Scentre Group 1.12%.
Overall, the ASX has lost 1.56% over the last five days but gained 9.64% over the last 52 weeks.
Financial tips to prepare for bushfires
With the Los Angeles bushfires demonstrating the stark reality of extreme climate change-driven weather events, many will be looking for the best ways to protect themselves and their assets against similar disasters.
Stuart Symons from People First Bank (NASDAQ:FRBA) says preparation is key.
“Double-checking your insurance details now can save you significant stress later. Ensure your coverage is adequate and up to date and note any recent changes to terms and conditions.
“Keep your insurer’s contact details in your phone or wallet so you can reach them quickly if needed.”
2. Secure important documents
“Organise your vital documents, such as medical records, bank details, wills, passports and IDs. Store physical copies in a waterproof and safe location, and back them up digitally by uploading scanned versions to your device or secure cloud storage. Easy access to these documents is critical during emergencies.”
3. Photograph your belongings
“Taking clear, recent photos of your belongings and property can streamline your insurance claims process. This step also helps if your property is damaged or looted after a disaster. Photographic evidence provides a clear record for insurers.”
4. Ensure access to funds
“In the aftermath of a disaster, you may need funds immediately for essentials like clothing or temporary accommodation.
“Carry your credit and debit cards, as they’re waterproof, and keep a small amount of cash for situations where electronic payments might not work due to power outages. Remember to keep all your receipts.”
5. Protect your income
“For those who are self-employed or work from home, a natural disaster can disrupt your ability to earn. Plan ahead by identifying key documents, backup locations for work and essential equipment. Having a recovery strategy will help you return to work on your terms.”
Small cap movers
A number of small caps benefitted from positive announcements with Yandal Resources Ltd (ASX:YRL) as much as 24.14% higher to $0.18 on demonstrating further gold discovery potential at the IWB Project, D3 Energy Ltd (ASX:D3E, OTCQB:DNRGF) hit $0.08, a rise of 23.08%, after positive production testing in South Africa, International Graphite Ltd (ASX:IG6) increased 22.92% to $0.059 on receiving a $4 million grant from the WA Government and St George Mining Ltd (ASX:SGQ) rose 21.74% to $0.028 after signing an offtake and development MoU.
Other increases in the sector were by Cyclone Metals Ltd (ASX:CLE), which lifted 13.47% to $0.059, Latrobe Magnesium Ltd (ASX:LMG, OTC:LTRBF) was 13.33% higher than the previous close at $0.017, QMines Ltd (ASX:QML) was as much as 6.78% higher at $0.063, Polymetals Resources Ltd (ASX:POL) rose 4.82% to $0.87, Altech Batteries Ltd (ASX:ATC, OTC:ALTHF) pushed up by 4.65% to $0.045 and Leeuwin Metals Ltd (ASX:LM1) was 4.35% higher than the previous close to $0.12.
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