S&P/ASX 200 back in positive zone after tumbling at opening bell

S&P/ASX 200 (INDEXASX:XJO) was higher by 18 points or 0.29% at 6163 points by 1:06 pm following losses in the first two hours of trading, although big sectors such as energy and financials remained lower. But tech stocks, consumer discretionary, gold miners and consumer staples are showing healthy gains with Saracen Mineral Holdings Limited (ASX:SAR) up 8.61% and Evolution Mining Ltd (ASX:EVN) rising 1.2%. Overnight in the US, the S&P 500 Index (INDEXSP:.INX) and Dow Jones Industrial Average (INDEXDJX:.DJI) fell as the Federal Reserve began a two-day meeting yesterday to publish its updated economic forecasts today. Home loan numbers The value of new home loans in Australia dropped in April, but by far less than expected. The Australian Bureau of Statistics said total mortgage lending fell 4.8% for the month to a seasonally adjusted $18.57 billion - beating consensus predictions of a 10% drop. Top gainers Today’s top gainers on the ASX Include Opyl Ltd (ASX:OPL) (+12.00%), Great Southern Mining Ltd (ASX:GSN) (+10.59%), Polarx Ltd (ASX:PXX) (+11.76%), Musgrave Minerals Ltd (ASX:MGV) (+14.52%), Whitebark Energy Ltd (ASX:WBE) (+20.00%), Rimfire Pacific Mining N L (ASX:RIM) (+16.67%), Red River Resources Limited (ASX:RVR) (+14.93%), Castillo Copper Ltd (ASX:CCZ) (+15.38%), Argonaut Resources NL (ASX:ARE) (+16.67%) and Brookside Energy Ltd (ASX:BRK) (+14.29%). Proactive news headlines: Bellevue Gold up after hitting high-grade gold in first regional hole at Bellevue Gold Project Bellevue Gold Ltd (ASX:BGL) (OTCMKTS:BELGF) shares are higher after hitting 17 metres at 4.2 g/t gold from 19 metres in its first regional hole drilled on the 20-kilometre Bellevue Trend in Western Australia. This hole at Government Well prospect is about 7 kilometres from the existing 2.2-million-ounce at 11.3 g/t inferred resource at Bellevue Gold Project. Yandal Resources serves up more shallow high-grade gold results at Flushing Meadows Yandal Resources Ltd’s (ASX:YRL) shallow high-grade gold results continue to enhance the potential of Flushing Meadows deposit within the Ironstone Well Gold Project in WA’s highly prospective Yandal Greenstone Belt. Best results are 8 metres at 3.76 g/t from 27 metres including 1-metre at 13.40 g/t; and 11 metres at 3.35 g/t from 50 metres including 1-metre at 16.99 g/t. Further 1-metre sample assay results from reverse circulation (RC) drilling will support an updated mineral resource estimate (MRE) planned for the September quarter. Peel Mining collects $7 million from selling 19% of stake in Saturn Metals Peel Mining Ltd (ASX:PEX) has sold down its' holding in Saturn Metals Ltd (ASX:STN) by 16 million shares, which represents around 19% of its stake in the spin-off company. The sale was completed at 45 cents per share with Peel retaining a significant holding of 4,000,001 shares or 4.8% in Saturn. The sale proceeds will be utilised to continue advancing the company’s Cobar assets including its 100%-owned Wagga Tank-Southern Nights deposit and 50%-owned Mallee Bull deposit. Creso Pharma to begin cannabis sales in Canada with licence granted to Mernova Medical Creso Pharma Ltd (ASX:CPH) (OTCMKTS:COPHF) (FRA:1X8) will begin cannabis sales in Canada after the grant of a sales licence from Health Canada to Creso’s related body corporate Mernova Medical Inc. The first available recreational product will be Mernova’s high-quality dried flower in its natural form with additional high-quality products to be added to the product suite as they become available. Lithium Australia subsidiary Envirostream begins micronutrient field trial for recycled battery minerals Lithium Australia NL’s (ASX:LIT) 90%-owned subsidiary Envirostream Australia Pty Ltd has started a field trial as it assesses the use of zinc and manganese derived from recycled alkaline batteries as micronutrients in blended fertilisers. The fertiliser/wheat-seeding trial is underway near Kojonup, about 260 kilometres southeast of Perth, WA. Envirostream hopes the use of nutrients in slow-release form – believed to be a first for the Antipodes – in the sandy soils, low in zinc and manganese that characterise WA’s wheatbelt region will provide growers with significant benefits. Brookside Energy forms joint venture to expand Oklahoma oil & gas portfolio Brookside Energy Ltd (ASX:BRK) has formed a new joint venture with Stonehorse Energy Ltd (ASX:SHE) called the Orion Project, which aims to take advantage of opportunities to acquire producing oil and gas properties in the world-class Anadarko Basin of Oklahoma, USA. Orion Project is a 50/50 joint venture between the companies, with Brookside’s subsidiary Black Mesa Energy LLC responsible for identifying, acquiring and operating the properties.