S&P/ASX 200 slips as new COVID-19 cases in New South Wales continue to rise

S&P/ASX 200 (INDEXASX:XJO) fell 0.34% to 7,317 by about 1.05 pm as New South Wales recorded another increase in COVID-19 cases, with 16 new infections recorded overnight. NSW Health confirmed 10 new locally acquired cases in the 24 hours to 8 pm last night, seven of which were announced yesterday. There were also 13 new locally acquired cases confirmed after the official reporting period, which will be included in tomorrow’s numbers. Energy stocks slip The energy sector slipped the most, falling 1.26% while financials has also weighed on markets, down 1%. IT is the best performing sector, gaining 1.15%, and the materials sector (+0.79%) was also in the green. Novonix (ASX:NVX) shares gained 3.3% as it looks to purchase a factory in Tennessee and expand its production of lithium-ion batteries for electric vehicles and energy storage systems. Rate hike expected in 2022 CBA Group economists expect the RBA to deliver the first hike in the cash rate in November 2022. They are also forecasting headline inflation to be 1.8% by the end of 2021 and 2.3% by the end of 2022. CBA sees wage growth to accelerate to 2.4% by the end of 2021 and 2.9% by the end of 2022. Top gainers Today’s top gainers on the ASX include Auroch Minerals Ltd (ASX:AOU) (+10.34%), Blue Star Helium Ltd (ASX:BNL) (+9.09%), Jindalee Resources Limited (ASX:JRL) (+9.17%), Kneomedia Ltd (ASX:KNM) (+20.00%), Roots Sustainable Agricultural Techn Ltd (ASX:ROO) (+20.00%) and West Wits Mining Limited (ASX:WWI) (+7.59%). Proactive news headlines: Peninsula Energy swamped by response to SPP, raising A$2 million to fund physical uranium purchase Peninsula Energy Ltd (ASX:PEN) (OTCMKTS:PENMF) (FRA:P1M) has completed a Share Purchase Plan (SPP) to eligible shareholders raising a total of A$2 million. Kingston Resources advances development studies and approvals for Misima Gold Project with resource estimates underway Kingston Resources Ltd (ASX:KSN) continues to advance development studies and approvals for the flagship 3.6-million-ounce Misima Gold Project in PNG, with work programs and resource and reserve estimates underway. Magnis Energy Technologies impressed by Fast Charging battery results in optimised commercial cell Magnis Energy Technologies Ltd (ASX:MNS) (OTCMKTS:URNXF) is impressed by the strong Fast Charging (FC) battery results achieved using commercial optimised cells. Latitude Consolidated delivers more strong gold results in Murchison drilling that confirm continuity at Margaret target Latitude Consolidated Ltd (ASX:LCD) (FRA:1KX) has received further strong gold assay results from the Phase 1 drill program underway at the Murchison Gold Project in Western Australia. Bellevue Gold’s strong results support proposed production capacity boost at namesake gold project Bellevue Gold Ltd (ASX:BGL) believes the latest results from infill and extensional drilling could improve the forecast production rate and project economics at its namesake gold play in Western Australia. Triangle Energy launches pro-rata non-renounceable entitlement offer to eligible shareholders Triangle Energy (Global) Limited (ASX:TEG) (FRA:WMOA) has launched a pro-rata non-renounceable entitlement offer to eligible shareholders of quoted options in the company. Adavale Resources begins fully funded maiden drilling at Tanzanian nickel project Adavale Resources Limited (ASX:ADD) has started a fully-funded maiden diamond drilling program at its 100%-owned Kabanga Jirani Nickel Project in Tanzania. Calima Energy adds financial experience to board with appointment of Mark Freeman Calima Energy Ltd (ASX:CE1) (OTCMKTS:RLTOF) (FRA:R1Y) has added debt and equity market, mergers and acquisitions, joint venture management and operational experience to its executive team with the appointment of Mark Freeman as finance director. White Rock Minerals and AuStar Gold step closer to executing merger after first Federal Court hearing White Rock Minerals Ltd (ASX:WRM) (OTMKTS:WRMCF) and AuStar Gold Ltd (ASX:AUL) are one step closer to merging after the Federal Court of Australia approved the despatch of AuStar’s scheme booklet.