S&P/ASX 200 snaps five-day winning streak; Challenger falls 14%

S&P/ASX 200 (INDEXASX:XJO) snapped its five-day winning streak by falling 0.33% to 7,042.5 points by 1.06 pm following a muted performance from Wall Street overnight, as investors awaited key earnings results. Rio iron ore shipments rise Rio Tinto (ASX:RIO) shares were 0.29% lower after releasing its 1Q21 update this morning. The company’s iron ore shipments were up 7% to 77.8 million tonnes but iron ore production fell 2% to 76.4 million tonnes, impacted by above average wet weather in the mines through Feb. Rio’s financial year guidance is unchanged with iron ore and bauxite shipments/production subject to weather and market conditions. Challenger shares slip Challenger (ASX:CGF) shares fell more than 14% after the retirement income and investment manager guided towards the lower end of its full-year outlook. The company told investors that normalised profit for 2021 would be nearer to the bottom of its $390 million to $440 million guidance range. Top gainers Today’s top gainers on the ASX include Argonaut Resources NL (ASX:ARE) (+11.11%), Buru Energy Limited (ASX:BRU) (+16.22%), Kinetiko Energy Ltd (ASX:KKO) (+27.27%), Montem Resources Corp (ASX:MR1) (+12.50%), Rumble Resources Ltd (ASX:RTR) (+21.43%), Theta Gold Mines Ltd (ASX:TGM) (+12.50%) and SenSen Networks Ltd (ASX:SNS) (+9.68%). Proactive news headlines: Queensland Pacific Metals upscales SPP to $5 million due to overwhelming demand Queensland Pacific Metals Ltd (ASX:QPM) has upscaled its share purchase plan (SPP), which closed early on April 14, to $ 5 million following an overwhelming response from its shareholders. European Lithium stepping up resource extension drilling at Wolfsberg Lithium Project European Lithium Ltd (ASX:EUR) (FRA:PF8) (VIE:ELI) is stepping up resource extension drilling at the Wolfsberg Lithium Project in Austria with a second rig to begin operations early next month. Moho Resources confirms extensive gold mineralisation at Crossroads Prospect Moho Resources Ltd's (ASX:MOH) is encouraged by results from maiden RC drilling at Crossroads gold prospect of the Burracoppin Project in the WA wheatbelt that show extensive gold mineralisation. Mako Gold completes soil geochemical program at Korhogo in Côte d’Ivoire with airborne magnetic survey to precede drilling Mako Gold Ltd (ASX:MKG) has completed a soil geochemical program on the Ouangolodougou and Korhogo Nord permits, comprising the Korhogo Project and collectively covering 296 square kilometres over a 17-kilometre strike of faulted greenstone granite contact in Côte d’Ivoire. Lotus Resources sells non-core Australian asset for $2.5 million to strengthen focus on uranium project Lotus Resources Ltd (ASX:LOT) has reached an agreement to divest its Hylea Cobalt Project in central New South Wales, to Sunrise Energy Metals Limited (ASX.SRL) for total consideration of $2.5 million. Kazia Therapeutics licenses global rights to novel, first-in class, clinic-ready oncology drug candidate EVT801 Kazia Therapeutics Ltd (ASX:KZA) (FRA:NV9) (NASDAQ:KZIA) has entered into a worldwide exclusive licensing agreement as well as a master services agreement with Evotec SE (FRA:EVT) – a leading European drug discovery and development company. Perseus Mining annual golden goal of 500,000 ounces tracking “exceptionally well” Perseus Mining Ltd (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) (FRA:P4Q) is on track to meet its target of producing 500,000 ounces of gold per annum, following a strong March quarter in which its second Cote d’Ivoire mine began commercial production. Carnavale Resources completes purchase of Barracuda Platinum-Palladium-Nickel-Copper Project Carnavale Resources Ltd (ASX:CAV) (FRA:YBB) has been granted ministerial consent for the transfer of 100% of the Barracuda Platinum-Palladium-Nickel-Copper Project near Mt Magnet in Western Australia to the company. Kingwest Resources sets sights on advancing Menzies and Goongarrie gold projects in 2021 Kingwest Resources Ltd (ASX:KWR) is progressing towards a pre-feasibility study and near-term production at the Menzies Gold Project (MGP) in Western Australia. SenSen Networks sets targets to increase customer base and associated revenues after busy first half SenSen Networks Ltd (ASX:SNS) (OCTMKTS:SNNSF) has set itself near, medium and long-term targets following its recent capital raising as it kicks off recruitment for senior international, marketing and sales, and project management executives to join its team to execute its expansion plan. Renascor welcomes $1.08 billion energy and emissions reduction deal Renascor Resources Ltd (ASX:RNU) has applauded the commitment of the Commonwealth and South Australian governments to the $1.08 billion State Energy and Emissions Reduction Deal announced on April 18, 2021.