ASX up for second day but this graphite company jumped 42.9%

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Australian stocks have continued to rise on positive offshore leads with the ASX200 rising 105.9 points or 2.1% to 5221.1.

Major banks were amongst the biggest gainers with ANZ Bank (ASX:ANZ) rising 3.7% to $28.54 while Commonwealth Bank (ASX:CBA)is  up 3.4% to $76.72.

National Australia Bank (ASX:NAB) rose 3.5 % to $31.27 and Westpac (ASX:WBC) climbed 4.2% to $31.81.


Market Action here…

Black Rock Mining (ASX:BKT) jumped 42.9% to $0.05 after infill drilling returned thick intersections of graphite mineralisation at the Epanko North prospect in Tanzania.

The company is on track to deliver a maiden JORC Resource by the end of this year.

However this could be the tip of the iceberg given that the Ulanzi and Cascade prospects where drilling is currently underway have over six times the mineralised footprint of Epanko North.

Further assays results are expected in September and October.

Strategic Elements (ASX:SOR) is up 13.8% to $0.165 with 4.8 million shares traded Potash West (ASX:PWN) is up 20% to $0.03 while Imugene (ASX:IMU) climbed 12.5% to $0.009 with more than 3.9 million shares traded.

Yellow Rock Resources (ASX:YRR) rose 12.5% to $0.009 with 6.5 million shares traded Vital Metals (ASX:VML) gained 17.4% to $0.03 and Impact Minerals (ASX:IPT) rose 13% to $0.026.


Blue Chip Stocks

Major Miners
 
BHP Billiton (ASX:BHP) down 0.2% to $24.65
Fortescue Metals Group (ASX:FMG) up 4.1% to $2.04
Newcrest (ASX:NCM) up 1.2% to $11.71
Rio Tinto (ASX:RIO) up 2.6% to $51.51


Oil and Gas

Oil Search (ASX:OSH) down 0.6% to $7.85
Santos (ASX:STO) up 5.9% to $4.67
Woodside Petroleum (ASX:WPL) up 0.8% to $29.90


Other banks financials and industrials

AMP (ASX:AMP) up 3.2% to $5.90
Bank of Queensland (ASX:BOQ) up 3.5% to $12.54
Bendigo and Adelaide Bank (ASX:BEN) up 1.7% to $10.55
Macquarie Group (ASX:MQG) up 3.8% to $77.34
Suncorp (ASX:SUN) up 3.4% to $12.84
Telstra (ASX:TLS) up 1.9% to $5.79


Retailers

JB Hi-FI (ASX:JBH) up 1.2% to $18.72
Wesfarmers (ASX:WES) up 0.9% to $40.15
Woolworths (ASX:WOW) down 0.04% to $25.32

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