The Australian market extended its green run into the midweek session, closing Wednesday?s session 0.28% higher at 7116.70 points as Australia?s GDP data boosted investor confidence in economic recovery post pandemic.
Australian GDP data out today shows the Australian economy rebounded in the December quarter of last year with growth of 3.4%, recovering from the September quarter?s 1.9% fall.
Brent crude oil climbed above 110 US dollars a barrel today for the first time since 2014 which surged local energy stock prices during today?s session.
The stocks that made headlines today were:
Medical Developments International rocketed 32% today after the medical device company announced that the US FDA has unconditionally lifted its clinical hold on the company?s Penthrox green whistle, meaning Medical Developments International can immediately begin preparing for its Phase III US clinical trial.
Core Lithium shares soared 15% today after the emerging South Australia-based lithium producer announced it has signed a legally binding supply agreement with EV giant Tesla. Under the agreement Core Lithium will supply 110,0000 tonnes of lithium spodumene concentrate for a four-year period.
And fellow lithium producer Metals Australia jumped 66% today after announcing outstanding lithium & rubidium rockchip results at the Company?s Manindi lithium project.