S&P/ASX 200 gains 0.84% as GDP growth beats forecasts

S&P/ASX 200 gains 0.84% as GDP growth beats forecasts

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S&P/ASX 200 (INDEXASX:XJO) has gained 0.84% to 7,202 by 12.55 pm as Australia’s economy grew by 1.8% in the first three months of 2021 compared to the final three months of 2020. This was ahead of a 1.5% growth that economists were expecting. Annual growth was expected to be 0.7%, but the Australian Bureau of Statistics reported that GDP has increased by 1.1% over the past 12 months. Australian economic recovery is fastest in 45 years with GDP now at fresh highs#ausbiz #ausecon #commsec @CommSec@ABSStats pic.twitter.com/e7aDRad9PP — CommSec (@CommSec) June 2, 2021 Acting Premier James Merlino has extended the lockdown in Melbourne with only five reasons to leave home for another week: shopping for food and supplies, authorised work and study, care and caregiving, exercise and getting vaccinated. Restrictions in regional Victoria will be eased from tomorrow night, with the five reasons to leave home to be removed. Top gainers Today’s top gainers on the ASX include Alta Zinc Ltd (ASX:AZI) (+1,383.33%), Argonaut Resources NL (ASX:ARE) (+12.50%), Astro Resources N.L. (ASX:ARO) (+25.00%), Carnavale Resources Limited (ASX:CAV) (+14.29%), Emperor Energy Ltd (ASX:EMP) (+16.13%), Ioneer Ltd (ASX:INR) (+14.49%) and Montem Resources Corp (ASX:MR1) (+11.11%). Proactive news headlines: Elementos confirms broad tin zones at Oropesa Project and begins feasibility development programs Elementos Limited (ASX:ELT) (OTCMKTS:ELTLF) (FRA:9EM) continues to confirm significant zones of mineralisation in the current drilling campaign at its flagship Oropesa Tin Project in Spain. archTIS lands Australian Defence contract for Kojensi platform archTIS Ltd (ASX:AR9) is set to expand deployment of its cloud technology platform for the secure collaboration of sensitive information with the Australian Department of Defence. Rumble Resources high-grade RC results point to large-scale zinc-lead-silver system at Earaheedy Rumble Resources Ltd (ASX:RTR) (FRA:20Z) has fielded new high-grade reverse circulation (RC) results pointing to a large-scale zinc-lead-silver system at the Earaheedy  Project in Western Australia. Antipa Minerals welcomes A$1 million investment of European-based commodity fund Antipa Minerals Ltd (ASX:AZY) has welcomed a firm commitment from Netherlands-based Commodity Discovery Fund (CDF) to raise A$1 million through the issue of 23,809,524 new shares at A$0.042 per share. Kin Mining capitalises on robust gold prices and enhances Cardinia economics with royalty purchase Kin Mining NL (ASX:KIN) (FRA:8KM) has purchased a third-party 1.5% net smelter royalty (NSR) covering future production at its wholly-owned Cardinia Gold Project. Azure Minerals reveals two new nickel-copper sulphide zones at Andover Azure Minerals Limited (ASX:AZS) (OTCMKTS:AZRMF) has discovered two new broad zones of nickel-copper sulphide mineralisation at its flagship Andover Nickel-Copper Project near Port Hedland in WA.

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