The share market was in the green at the time of writing today on the back of rebounding energy stocks which recovered from Thursday’s sell-off.
Energy was 1.29% higher. Over the five days, the sector gained 2.09%.
The sector had shrugged off a lower crude oil price, as markets await next week’s OPEC+ meeting.
Woodside Energy Ltd gained 1.4%, Santos Ltd (ASX:STO) was 1.3% higher and Ampol Ltd edged up 0.8%.
Just before 3 pm AEST, the S&P/ASX200 had gained 19.90 points or 0.28% to 7,049.10. This index is virtually unchanged over the last five days and the year to date.
The top performing stocks in this index are Whitehaven Coal (ASX:WHC) Ltd and Insignia Financial Ltd, up 2.98% and 2.66% respectively.
Looking at the sectors, Origin Energy Ltd (ASX:ORG)’s 2.5% gain led Utilities higher but remains the talk of the town after AustralianSuper blasted Brookfield’s move to ‘buy more time’ on its $18.7 billion bid.
Utilities was the second best-performed sector, up 1.77%.
Information technology was the hardest hit for the day, losing 1.13%. Over the week, it took a 2.39% loss to be the worst performed.
While Real Estate was up 0.46% for the day at the time of writing, it was the second worst performed sector for the week, losing 2.01%.
On the small-cap front, the S&P/ASX Small Ordinaries (XSO) gained 0.11% for the day, however, it was down 0.80% for the week at 3pm on Friday.
It was a generally quiet day on the news front for small caps, potentially influenced by Thanksgiving and Black Friday sales.
Five at five
Island Pharmaceuticals kicks off "critical" study in Dengue fight
Island Pharmaceuticals Ltd (ASX:ILA), a leader in antiviral drug development, has initiated the first cohort dosing in its single ascending dose (SAD) study for its lead asset ISLA-101, aimed at preventing and treating dengue and other mosquito-borne diseases.
Read more
Krakatoa Resources expands King Tamba drilling campaign; shares higher
Krakatoa Resources Ltd has significantly expanded its exploration campaign at the wholly-owned King Tamba Project in Western Australia by a further 6,000 metres of reverse circulation (RC) drilling.
Read more
Ionic Rare Earths gears up to meet EU's magnet recycling targets
Ionic Rare Earths Ltd (ASX:ASX:IXR, OTC:IXRRF) is poised to play a significant role in the European Union's (EU) efforts to boost magnet recycling following the alliance’s decision to upgrade the benchmark for recycling critical raw materials from 15% to at least 25% of annual consumption by 2030.
Read more
Iondrive progressing battery recycling technologies towards commercialisation
Iondrive Ltd (ASX:ION),formerly Southern Gold Ltd, reports that it is progressing towards the commercialisation of its exclusively licensed battery technologies.
Read more
Aurumin divests iron ore rights over four Mt Dimer exploration tenements to Polaris Metals
Aurumin Ltd (ASX:AUN) has executed a binding term sheet with Polaris Metals Pty Ltd, a subsidiary of Mineral Resources Ltd (ASX:MIN) for the sale of iron ore rights over four of Aurumin’s Mt Dimer exploration tenements.
Read more
On your six
Mines as carbon sinks; Australia's carbon capture advantage
Carbon sequestration and storage (CSS), or the storage of carbon in minerals, soils, or organic matter, is not a new technology.
Read more
The one to watch
Mayur Resources fully funded into expansion phase for Central Lime Project
Mayur Resources Ltd (ASX:MRL) managing director Paul Mulder speaks with Proactive soon after announcing the company has signed an exclusive non-binding term sheet with Appian (NASDAQ:APPN) Capital Advisory to fund its Central Lime Project.
Watch