S&P/ASX 200 gains 0.4% as higher commodity prices lift materials and energy sectors

S&P/ASX 200 (INDEXASX:XJO) is up 23 points or 0.4% to 6,024 around lunch with the materials and energy sectors making the biggest moves. The materials sector has received a boost from the larger miners in particular with BHP Group (ASX:BHP) rising 4.1% and Rio Tinto (ASX:RIO) up 1% even as it trades ex-dividend today. Oil and gas stocks are also rallying as global oil prices trade near its five-month high. However, the gains for local gold stocks have been muted even as the price of the precious metal continues to lift to all-time highs. COVID-19 update Victoria recorded 471 new COVID-19 cases and eight deaths, as Prime Minister Scott Morrison said updated Treasury modelling forecasts an additional hit to Australia’s GDP of up to $9 billion in the September quarter as a result of the harsher lockdown, with a up to 400,000 more people expected to be out of work. More than 18.66 million people have been reported to be infected by COVID-19 globally, while death toll surpassed 700,000 on Wednesday, with the US, Brazil, India and Mexico leading the rise in fatalities. The rapid rise in cases has dented hopes of a swift economic rebound, driving investors to safe-haven assets such as gold, which has risen more than 34% so far this year. Top gainers Today’s top gainers on the ASX include Calima Energy Ltd (ASX:CE1) (+25.00%), Twenty Seven Co Ltd (ASX:TSC) (+20.00%), Brookside Energy Ltd (ASX:BRK) (+25.00%), Archtis Ltd (ASX:AR9) (20.34%), Ansila Energy NL (ASX:ANA) (+22.22%) and Rimfire Pacific Mining N L (ASX:RIM) (+20.00%). Proactive news headlines: Zelira Therapeutics accelerates transition to revenue-generation with Zenivol™ and HOPE™ launch in Australia by quarter-end Zelira Therapeutics Ltd (ASX:ZLD) (OTCQB:ZLDAF) is on track to launch its Zenivol™ and HOPE™ range of products into the Australian market by the end of the current quarter. Imugene guidance from US FDA progresses development pathway for VAXinia product Imugene Limited (ASX:IMU) (OTCMKTS:IUGNF) has received guidance from the US Food and Drug Administration (FDA) in relation to the development pathway for VAXinia (CF33-hNIS), the company’s lead oncolytic virotherapy for the treatment of solid tumours. Graphex Mining hits high-grade gold and extends strike length at Tabakorole in southern Mali Graphex Mining Ltd (ASX:GPX) has received high-grade gold results of up to 6 metres at 6.2 g/t gold from 14 metres including 3 metres at 11 g/t and extended the strike length by around 600 metres during drilling at the recently acquired Tabakorole Gold Project in southern Mali. Cobalt Blue’s Broken Hill project a game-changer in cobalt industry Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) is turning heads in the global cobalt industry with its strategy targeting the ethical production of high-grade, battery-ready cobalt sulphate from the Broken Hill Cobalt Project (BHCP). Element 25 is well-funded as it drives development of Butcherbird Manganese Project Element 25 Ltd (ASX:E25) made strong progress during the June quarter with the publication of the pre-feasibility study (PFS) for its Butcherbird Manganese Project in Western Australia. Lithium Australia gains international patent support for lithium phosphate recovery technology Lithium Australia NL (ASX:LIT), has received a clear international preliminary report on the patentability of processes described in its patent application for the recovery of lithium phosphate (LP) from lithium-bearing solutions. Great Western Exploration raises $2.5 million to advance exploration at Golden Corridor Project Great Western Exploration Ltd (ASX:GTE) has received commitments from professional and sophisticated investors to raise around $2.5 million in a placement cornerstoned by regarded mining executives Simon Lee AO and Morgan Hart. Corazon Mining resumes drilling priority nickel sulphide target at Lynn Lake in Canada Corazon Mining Ltd (ASX:CZN) has recommenced drilling at Fraser Lake Complex (FLC) within the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba province, Canada, testing a new priority nickel sulphide target.