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PEAK ASSET: AFTERNOON WRAP 12 MARCH: | Tech stocks keep ASX positive in late trade | Auris Minerals intersects visible copper at Forrest project | China stocks rise on infra boost, Sino-U.S. tensions cap gains |

Contributor by Contributor
Friday, March 12, 2021
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    12 March, 2021

Happy Friday!

Who's in the mood for a drink?

Booze stocks are expected to rally as restrictions ease globally.

AFR believes these five stocks are worth a 'shot'…

Across Markets…

The local market has finished the day up 0.79 per cent after a fairly buoyant session, helping the ASX200 to a weekly gain of 0.83 per cent.
Popular tech stocks Afterpay, Xero, and Nearmap were the main drivers of the sector, with all of the so-called ‘WAAAX’ stocks reporting gains on Friday, clawing back some ground after significant falls on Thursday.
Energy stocks also performed well thanks to gains in Woodside and Origin, as did materials, with a 2.6 per cent gain at major miner BHP single-handedly adding 12 points to the index.
After a boom in travel stocks on Thursday, some reported losses on Friday as analysts tempered investor expectations of the government’s $1.2 billion stimulus package. Flight Centre fell 4 per cent.
PointsBet was the day’s single biggest gainer, up 8.5 per cent, and minerals companies Oz Minerals and Mineral Resources also gained, jumping 6 and 5.4 per cent respectively.
And despite hitting a new all-time high earlier today, Bitcoin’s momentum has not been sustained, with the cryptocurrency dropping 1.8 per cent to $72,900 around 4pm.

Source: SMH


Pic of the day

Local Equity News

Gold and base metals explorer Auris Minerals (ASX: AUR) has identified visible copper in two zones during drilling of the first hole of a new program at its Forrest project in Western Australia’s Bryah Basin.

The company is drilling six diamond holes for 2,540m at the associated Forrest and Wodger projects to infill and test for dip and plunge extensions.

Auris has an existing resource of 2.4 million tonnes at 1.7% copper for 41,500 tonnes of contained metal. Forrest is located 130km north of Meekatharra.

Auris has consolidated a tenement portfolio in the Bryah Basin of 1,369sq km, which is divided into eight project areas: Forrest, Cashman, Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well.

This is the latest drill program at Forrest, with previous drilling returning up to 8.28% copper and 34.1g/t gold in February 2019.

CLICK HERE FOR FULL ARTICLE

Source: Small Caps

Asian Market News

China stocks eked out gains on Friday, underpinned by strength in infrastructure firms, although Sino-U.S. tensions capped the rise.

The CSI300 index rose 0.2%, to 5,139.87 at the end of the morning session, while the Shanghai Composite Index gained 0.4%, to 3,449.86.

The CSI300 infrastructure jumped 3.9% and was set for its best day since July 6, 2020, thanks in part to its low valuations after underperforming the market for a long time.

The Hang Seng index dropped 0.3% to 29,311.88, while the Hong Kong China Enterprises Index gained 0.7%, to 11,416.60.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.62% while Japan’s Nikkei index was up 1.37%.

Source: Reuters

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Company: Digital Wine Ventures (ASX:DW8)
Sector: Consumer Discretionary
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Deal Type: Placement
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Sector: Gaming & Digital Advertising
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Company: MRG Metals (ASX:MRQ)
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Deal Type: Placements & Rights Offer
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Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs.  Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances.  If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au  or by telephoning Peak on 1300 304 460

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