The Australian Securities Exchange (ASX) is rebounding slightly today 3 November on the Melbourne Cup public holiday, following a negative start to the week.
Just three hours before the race kicks off, the S&P/ASX 200 is up 12.10 points at around 12:00pm AEDT, representing a 0.14% increase.
The index remains virtually unchanged over the last five days, but currently sits 4.60% below its 52-week high.
The Materials sector is also flashing green, although few juniors seem to be following suit today.
Materials gained 0.97% at the time of writing, with Kingsgate Consolidated (ASX:KCN) among the top performers on the index.
Mining giant BHP Group (ASX:BHP) edged up today with a 0.061% increase, while Rio Tinto (ASX:RIO) slipped 0.44%.
Juniors emerge as dark horses
RareX (ASX:REE) is trading higher again today, with a 9.99% increase in intraday pricing at around 12:00pm AEDT.
The company experienced an 11.11% surge near this time yesterday (2 November), as reported by Mining.com.au.
Today’s price increase follows the confirmation of a copper-nickel sulphide system at the Khaleesi Project in East Yilgarn, Western Australia.
RareX shares are now trading at $0.011 each, with 1.22 billion shares on issue and a market capitalisation of $12.16 million.
Meanwhile, Toubani Resources’ (ASX:TRE) share price jumped 7% in intraday pricing.
The company’s shares are trading at $0.27 each, with 1.07 billion shares on issue and a market capitalisation of $268.45 million.
Write to Maddison Elliott at Mining.com.au
Main image: ASX
