S&P/ASX 200 near flat line as NSW reports highest ever daily COVID-19 cases

S&P/ASX 200 (INDEXASX:XJO) gained 0.061% to 7,515.7 points by about 12.50 pm as NSW reported 291 new COVID-19 cases on Friday, the highest number of cases ever recorded in the state within a 24-hour period. NSW Premier Gladys Berejiklian said the worst was yet to come, warning cases were likely to keep jumping in the days ahead. She said: “I do want to foreshadow that given this high number of cases, we are likely to see this trend continue for the next few days so just based on the trend in the last few days and where things are going, I am expecting higher case numbers in the few days and they just wanted to be prepared for that.” S&P 500 hits another record Overnight on Wall Street, stocks finished in the green with the S&P 500 rising 0.6% to close at a new record and the Nasdaq Composite also advanced 0.78% for its fourth straight positive session. Locally, BHP Group Ltd, Rio Tinto Ltd and Fortescue Metals fell heavily after iron ore dropped 6.6% overnight to $US171.55 a tonne as China stepped up efforts to reduce the impact of the steel industry on the environment. Afterpay Ltd (ASX:APT) surged more than 5% to rise to its highest in six weeks, hitting a peak of $132.25. Israel-Iran escalation In an escalation of cross-border hostilities amid heightened tensions with Iran, Israeli jets struck what its military said were rocket launch sites in Lebanon early on Thursday in response to two rockets fired towards Israel from Lebanese territory. The exchange came after an attack on a tanker off the coast of Oman last week, which Israel blamed on Iran. Oil prices reacted to the escalation by rising towards US$71 a barrel on Thursday. Top gainers Today’s top gainers on the ASX include Carnavale Resources Limited (ASX:CAV) (+14.29%), Core Lithium Ltd (ASX:CXO) (+9.52%), Euro Manganese Inc (ASX:EMN, TSX-V:EMN, OTCQX:EUMNF) CDI (NYSE:CDI) (+8.00%), K2FLY Ltd (+9.62%), Lake Resources N.L. (+8.70%) and Roots Sustainable Agricultural Techn Ltd (+10.00%). Proactive news headlines: Proactive to host Lifesciences Webinar on Tuesday, August 10, featuring three ASX-listed companies Proactive will host a Lifesciences Webinar on Tuesday, August 10, with three ASX-listed companies – Noxopharm Ltd (ASX:NOX), Global Health Ltd (ASX:GLH) and Compumedics Ltd (ASX:CMP) — set to present on upcoming plans and strategies for the remainder of 2021. Marvel Gold prepares to raise capital amid trading halt Marvel Gold Ltd (ASX:MVL) is gearing up for a capital raise after entering a trading halt just before the weekend. Brookside Energy executes $9 million placement to fund Rangers Well development Brookside Energy Ltd (ASX:BRK) has secured $9 million in new proceeds following a capital raise to fund development activities at its Rangers Well, an oil and gas asset within the company’s “core of the core” position in Oklahoma’s Anadarko Basin. YPB Group completes share sale under small shareholding sale facility YPB Group Ltd (ASX:YPB) has completed a share sale under its small shareholding sale facility at $0.002 per share. IODM (ASX:IOD) enhances revenue opportunity by signing a deal with Western Union IODM Ltd has expanded its services to a second university in the United Kingdom through a contract with Western Union Business Solutions (WUBS). Arrow Minerals identifies highly conductive anomalous target following copper-gold drilling at Strickland Project Arrow Minerals Ltd (ASX:AMD) has identified a highly conductive anomalous target in copper-gold drilling at the Strickland Project in Western Australia.