S&P/ASX 200 keeps head above water as mining and health stocks trade higher – Proactive Investors Australia

Gold rose on Friday to hit a new all-time high of US$1,970.81 per ounce as a sliding dollar and dire economic numbers sparked a rush to safety.

S&P/ASX 200 (INDEXASX:XJO) is marginally up 0.08% to 5933 points at 12.30 pm as financial and consumer discretionary sectors suffered losses but mining and health stocks helped the index keep its head above water.

Limited () (+1.84%), BHP Group Ltd (ASX:BHP) (+1.44%) and Rio Tinto Limited (ASX:RIO) (+1.13%) all gained more than 1% while National Australia Bank Ltd () was down 3.28% and Australia and New Zealand Banking GrpLtd () dipped 3.56%.

Victorians are preparing for extreme new restrictions affecting businesses to be announced today, as another 429 COVID-19 cases were recorded in the last 24 hours.

Premier Daniel Andrews has declared a state of disaster and imposed stage four restrictions, which include a daily curfew from 8pm to 5am for Melbourne residents until at least September 13.

White House coronavirus task force leader Dr Deborah Birx said widespread COVID-19 infections in urban and rural America mark a new phase for the pandemic as she doubled down on calls to wear face masks and observe social distancing measures.

Birx said on CNN: What we are seeing today is different from March and April. It is extraordinarily widespread.

The US has the worlds biggest number of COVID-19 cases at 4.6 million, or one-quarter of the total, and 154,361 deaths.

Todays top gainers on the ASX include () (+15.15%), Engage:BDR Ltd () (+14.29%), () (+7.50%), () (+4.88%) and (ASX:CPT) (+7.69%).

() is advancing its Republic of Korea patent application for 12CQ quantum computing chip technology IP with the bid now undergoing substantive examination procedures.

FYI Resources Ltd () has been as much as 28% higher after completing stage two production of high purity alumina (HPA) from its pilot plant facility in Welshpool, Western Australia.

() has embarked on a capital raising exercise and intends to raise up to approximately $1,255,625 in a non-renounceable pro-rata entitlement offer and up to $300,000 in an options offer.

Element 25 Ltd () has completed pump testing of a water production bore within a shallow (6-16 metre depth) aquifer at the Butcherbird Manganese Project in WA, confirming sufficient process water supply for planned production.

() continued to make progress against its IPO goals, finishing its June 2020 quarter with record appointment volumes and the expansion of its Real World Evidence technology platform beyond cannabinoids.

() is focused on expanding the resource base and life-of-mine at its Cape Ray Gold Project in Newfoundland, Canada as the June quarter comes to a close.

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S&P/ASX 200 keeps head above water as mining and health stocks trade higher - Proactive Investors Australia