S&P/ASX 200 gains 0.32% as new COVID-19 cases decline in Victoria

S&P/ASX 200 (INDEXASX:XJO) has gained 0.32% to 6,096 by 12.51 pm as Victoria confirmed another decline in the number of new COVID-19 cases, from 282 yesterday to 222 today. A number of firms are near all-time highs including Wesfarmers Ltd (ASX:WES) which touched a record peak of $48.05 and Mesoblast which surged to $5.37. Netwealth (ASX:NWL) was at an all-time high of $14.6 earlier today after the financial services firm grew its profit to $43.7 million for the year, up from $34.3 million in FY19. Treasury Wine Estates Ltd (ASX:TWE) shares dropped 14% after reports of an investigation into wine dumping in China. China’s Commerce Ministry announces a one year anti-dumping investigation into Australian wine. Chinese officials and state media have previously warned wine could be targeted due to sour bi-lateral relations. Follows barley tariffs and beef labelling export restrictions. pic.twitter.com/ByUE5U0c6Z — Bill Birtles (@billbirtles) August 18, 2020 Coles and BHP results Supermarket giant Coles Group Ltd (ASX:COL) revealed a net profit of $978 million over the past 12 months, down from $1.4 billion this time last year. While overall sales have increased, sales revenue decreased from $38.2 billion to $37.4 billion this time around. BHP Group Ltd’s (ASX:BHP) annual profit dipped 4.3%, as disruptions due to the COVID-19 pandemic overshadowed firm iron ore prices and signs of a rebound in demand from top consumer China. Underlying profit attributable from continuing operations for the year ended June 30 2020 fell to $9.06 billion from $9.47 billion a year earlier, missing estimates of $9.42 billion. BHP noted that "'There remains a range of risks to prices for our various commodities. The potential for re-emergence of COVID-19 outbreaks in key markets or supply jurisdictions is the main source of uncertainty in our year-ahead outlook." Top gainers Today’s top gainers on the ASX include Titanium Sands Ltd (ASX:TSL) (+9.09%), Oakdale Resources Ltd (ASX:OAR) (+20.00%), Tempus Resources Ltd (ASX:TMR) (+7.69%), Walkabout Resources Ltd (ASX:WKT) (+8.33%) and Latin Resources Ltd (ASX:LRS) (8.33%). Proactive news headlines: Alto Metals' strong results at new shallow gold lode highlight growing scale of Sandstone Gold Project Alto Metals Ltd (ASX:AME) has described results from a shallow gold lode south of the Lord Nelson Pit as "outstanding", saying that they strengthen the growing scale of the Sandstone Gold Project in Western Australia. Graphex Mining completes $2.3 million offer with name change to Marvel Gold imminent Graphex Mining Ltd (ASX:GPX) has completed its $2.3 million fully underwritten 1 for 1 non-renounceable pro-rata entitlement offer at 0.2 cents per share. Horizon Minerals kicks-off largest ever drilling program of at least 70,000 metres at Goldfields tenements Horizon Minerals Ltd (ASX:HRZ) has begun its largest-ever drilling program of at least 70,000 metres across its entire 850 square kilometre gold prospective tenement package in WA’s Goldfields. Bryah Resources high-grade gold results reveal similarities to Westgold’s nearby Yarlarweelor deposit Bryah Resources Ltd (ASX:BYH) has received encouraging gold results from drilling at Windalah within Bryah Basin Project in central Western Australia, which show similarities to Westgold Resources Ltd (ASX:WGX) nearby Yarlarweelor deposit. Emperor Energy advances pre-FEED work for flagship Judith Gas Field in Gippsland Basin Emperor Energy Ltd (ASX:EMP) made considerable progress in the June quarter towards developing its flagship Judith Gas field Project in the Gippsland Basin, offshore Victoria. Corazon Mining has second hole underway targeting Lynn Lake nickel sulphide discoveries Corazon Mining Ltd (ASX:CZN) has started a second deep hole in an ongoing drilling program at Fraser Lake Complex (FLC) within the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.