The ASX is Flying Slightly Higher Today. This came after understated losses of the last session with the benchmark S&P/ASX 200 reaching into the 7,400 level. This followed positive nudges from Wall Street overnight as materials and energy shares raised the market. Investors are still worried about the new COVID strains including the Delta variant that is spreading through Asia and Australia.
New South Wales recorded 2 fatalities and 172 new cases in the immediate area. This is the highest daily case level since the beginning of the most recent outbreak. Victoria has recorded 10 new cases in their area of COVID also. The total active case level has increased to 198 but Victoria may cease lockdowns today. The benchmark S&P/ASX 200 Index is moving upward by 29.80 points or 0.40% to 7,424.10. This increase came after getting a new all-time high of 7,433.50 yesterday.
Big miners like BHP Group is increasing upward of 2% while Fortescue Metals has risen more than 1%. Rio Tinto is adding nearly two percent as well in the market trade today. Mineral Resources is creeping down 0.5 percent. OZ Minerals is rising nearly 8% proceeding from a report on higher copper production and increasing gold production guidance for 12 months.
Crude shares are up as well as Santos, Woodside Petroleum, and Beach energy inclining upwards of 1%. Oil Search and Origin Energy are also inclined up by about 1% today. Oil Search issued a report that stated a dip in oil and gas production in June but also reported a 21.5% rise in operating revenue.
Concerning banks we saw Commonwealth Bank increase about 1%. Meanwhile the National Australia Bank is declining about 0.3%. MetaNews has kept track of the varying fluctuations in bank revenues and share prices during the newest outbreak. The ASX is Flying Slightly Higher Today.