S&P/ASX 200 slips as oil hits US$60 for the first time since late January 2020

S&P/ASX 200 (INDEXASX:XJO) has eased back from the 11-month highs hit yesterday and was trading  0.49% lower at 6847 points by 1.50 pm. The index has failed to follow Wall Street where major US indices hit record highs overnight. On Monday, Brent crude traded at US$60.10, hitting US$60 for the first time since the pandemic started. Locally, gains for energy stocks are being offset most by losses for gold stocks, major banks and utilities. ANZ Bank (ASX:ANZ) fell 1.65% and National Bank (ASX:NAB) slipped 1.45%. Top gainers Today’s top gainers on the ASX include Firefinch Ltd (ASX:FFX) (+11.90%), Lotus Resources Ltd (ASX:LOT) (+7.41%), Lithium Australia NL (ASX:LIT) (+8.00%), RPM Automotive Group Ltd (ASX:RPM) (+5.17%) and Matador Mining Ltd (ASX:MZZ) (+5.97%). Proactive news headlines: Australian Strategic Materials has titanium powder approved for 3D printing Australian Strategic Materials Ltd’s (ASX:ASM) (OTCMKTS:ASMMF) titanium powder has been confirmed by Korean 3D printing group HANA AMT as being of high purity, paving the way for its use in 3D printing. TNT Mines extends gold mineralisation at Eureka following maiden RC drilling program TNT Mines Ltd (ASX:TIN) has extended mineralisation to the north and south of the existing pit area following a maiden reverse circulation (RC) program testing four separate target areas at the Eureka Gold Project near Kalgoorlie in Western Australia. Montem Resources’ Chinook Project scoping study indicates an economically and technically viable project worth progressing to PFS Montem Resources Corp’s (ASX:MR1) scoping study on the Chinook Coking Coal Project in the Crowsnest Pass area of Alberta, Canada, indicate an economically and technically viable project with upside justifying progressing to a pre-feasibility study (PFS). Pharmaxis chalks up major milestone with export of first shipment to US of cystic fibrosis drug Bronchitol® following FDA approval Pharmaxis Ltd (ASX:PXS) (OTCMKTS:PXSLY) (FRA:UUD) has exported the first shipment of its locally developed and manufactured drug Bronchitol® (mannitol) to the US after the cystic fibrosis (CF) treatment was approved by the US Food and Drug Administration (FDA) in October 2020. Carnavale Resources encouraged by strong aircore drilling results from Kookynie Gold Project Carnavale Resources Limited (ASX:CAV) (FRA:YBB) is encouraged by results from a first pass 6,539-metre aircore drilling program at Kookynie Gold Project in the Western Australian Goldfields. Matador Mining discovers multiple new high-grade gold zones at Window Glass Hill deposit of Cape Ray Matador Mining Ltd’s (ASX:MZZ) exploration drilling has resulted in the discovery of four new high-grade gold zones at its 100%-owned Cape Ray Gold Project in Newfoundland, Canada. Astro Resources begins 2021 work programs across three key projects Astro Resources NL (ASX:ARO) is advancing its portfolio of diverse assets over 2021 with work underway at the Needles Gold Project in Nevada, the Governor Broome Heavy Mineral Sands Project and the Kimberley Diamonds Project in Western Australia.