S&P/ASX 200 gains as consumer confidence hits second highest level in seven years

S&P/ASX 200 (INDEXASX:XJO) has gained 0.67% to 6867 points by about 2.10 pm as the Westpac-Melbourne Institute Index of Consumer Confidence rose by 1.9% in February to 109.1 – the second highest reading in seven years. Notably, the index is 14.2% above its pre-pandemic level in February 2020 and up 44.3% compared to the 29-year lows hit in April 2020 of 75.6 points. A reading more than 100 points denotes optimism. Mortgager confidence hits decade-high levels Consumer views on ‘house price expectations’ rose by 6.5% to a 7-year high of 154.7 this month. But the run-up in home prices may be impacting consumer views on affordability with the ‘time to buy a dwelling’ index falling by 3.1% to 120.7. However, record low borrowing costs continue to boost the morale of those with a mortgage with the ‘mortgager’ confidence sub-index gaining 2.6% to a decade high of 113.4 in February. Top gainers Today’s top gainers on the ASX include Tyranna Resources Ltd (ASX:TYX) (+25.00%), Emyria Ltd (ASX:EMD) (+19.35%), Brookside Energy Ltd (ASX:BRK) (+25.00%), FYI Resources Ltd (ASX:FYI) (+15.79%) and Elixinol Global Ltd (ASX:EXL) (+14.89%). Proactive news headlines: BlackEarth Minerals skyrockets on securing graphite supply and marketing agreement with German-based Luxcarbon BlackEarth Minerals NL (ASX:BEM) has soared on signing a graphite supply and marketing agreement with Luxcarbon GmbH, Germany - a move that further positions the company as a supplier of graphite concentrate and downstream graphite products to EV and alternative energy markets. Kin Mining raising up to $15 million to progress next phase of exploration and resource growth at Cardinia Gold Project Kin Mining NL (ASX:KIN) is undertaking a capital raising of around $15 million to progress the next phase of exploration and resource growth at its Cardinia Gold Project near Leonora in Western Australia. Ansila Energy begins phase 1 operational workstreams following Hartshead acquisition Ansila Energy NL (ASX:ANA) (OTCMKTS:PGNYF) (FRA:P6V) has started implementing several workstreams following the completion of its acquisition of the remaining 78.4% interest in Hartshead Resources Limited (HRL) that it doesn’t already own – solidifying its position as a new UK North Sea gas developer. ioneer sees Biden Administration as a catalyst for its business and US vehicle electrification ioneer Ltd (ASX:INR) (OTCMKTS:GSCCF) (FRA:4G1) believes the new Biden Administration in the US will be a catalyst for its business and US vehicle electrification. Blackstone Minerals upgraded to highest tier of trading on US OTC markets due to strong interest Blackstone Minerals (ASX:BSX) (OTCQX:BLSTF) (FRA:B9S) has begun trading on the US-based OTCQX Best Market under the code of OTCQX:BLSTF following the rapid increase in value of its shares and strong interest from US investors. Pantoro awards key EPC contract to GR Engineering for processing facility at Norseman Gold Project Pantoro Ltd (ASX:PNR) (FRA:RKN) has issued a Letter of Intent for the award of engineering, procurement and construction (EPC) works for the processing facility at the Norseman Gold Project to GR Engineering Services (ASX:GNG). Castillo Copper further extends Big One Deposit following final results from 2020 program and historical assays Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) has further extended the large copper discovery at Big One Deposit within the Mt Oxide Project in Queensland’s Mt Isa copper-belt following the final results from its 2020 program and recently found historical assays. Ora Banda Mining infill drilling at Riverina South returns up to 3 metres at 32.4 g/t gold Ora Banda Mining Ltd’s (ASX:OBM) (FRA:M6N) infill drilling program at Riverina South deposit within the wider Davyhurst Gold Project in Western Australia has delivered strong assay results of up to 3 metres at 32.4 g/t from 34 metres.