S&P/ASX 200 slips as material, energy stocks weigh on the market

S&P/ASX 200 (INDEXASX:XJO) was up by as much as 0.5% on the open, but has given back its improvements by lunch, last trading 0.27% lower at 6,753 points. Iron ore and energy stocks are weighing on the market with Fortescue Metals (ASX:FMG) falling 7.35% and Rio Tinto (ASX:RIO) down 4.44%. Technology stocks were an exception, with the sector jumping by 3.4% following six straight days of losses and a ~20% tumble over the past month. Words of caution from RBA governor Reserve Bank governor Philip Lowe said at the Australian Financial Review's Business Summit that the recent rise in house prices across most of the country — to record levels in many areas — had been a topic of discussion at recent RBA board meetings. Lowe cautioned that the prospect of lower population growth over the next couple of years could outweigh some of the other factors driving prices higher. He said: "There are many moving parts at present: record low interest rates; a shift in preferences towards houses and away from apartments; strong demand for housing outside our largest cities; large government incentives for first-home buyers and home builders; and the slowest population growth in a century. "Time will tell as to how these various factors ultimately balance out, but history suggests that shifts in population growth can have large effects on the housing market." Top gainers Today’s top gainers on the ASX include Alice Queen Ltd (ASX:AQX) (+11.54%), Argonaut Resources (ASX:ARE) (+8.33%), Brookside Energy Ltd (ASX:BRK) (+37.50%), Great Boulder Resources Ltd (ASX:GBR) (+14.29%), Kin Mining NL (ASX:KIS) (+8.89%), Polarx Ltd (ASX:PXX) (+10.34%) and Piedmont Lithium Ltd (ASX:PLL) (+10.06%). Proactive news headlines: Oklo Resources confirms two further growth opportunities close to Seko along Dandoko Gold corridor Oklo Resources Ltd’s (ASX:OKU) (FRA:JYA) shallow reconnaissance aircore (AC) drilling of regional targets has identified two further growth opportunities in close proximity to Seko, within its flagship Dandoko Gold Project in west Mali. Danakali continues evaluating renewable energy options to become zero carbon in SOP production at Colluli in Eritrea Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) (FRA:SO3) is continuing the process of evaluating renewable energy options of solar, wind and geothermal energy with a view to becoming zero carbon in the production of sulphate of potash (SOP) at its Colluli Project in Eritrea. Fenix Resources passes new Iron Ridge milestone on reaching steady-state production Fenix Resources Ltd (ASX:FEX) has reached annual nameplate road haulage rates of 1.25 million tonnes from the new Iron Ridge mine to the port storage facility in Geraldton. Firefinch appoints high performing resource industry executive as managing director Firefinch Ltd (ASX:FFX) (OTCMKTS:EEYMF) (FRA:N9F) has appointed respected and high performing resource industry executive Michael Anderson as managing director with effect from April 6, 2021. Australian Vanadium's final pyrometallurgy results confirm world-leading vanadium extraction Australian Vanadium Ltd (ASX:AVL) (OTCMKTS:ATVVF) (FRA:JT71) has completed pilot-scale pyrometallurgical test-work at the Metso testing facilities in the US, confirming world-leading vanadium extraction with high combined vanadium roast/leach extractions of up to 94.9%. Latin Resources’ Noombenberry shapes as very large, high-quality deposit with more high-grade halloysite and ultra-bright white kaolin confirmed Latin Resources Ltd‘s (ASX:LRS) (FRA:XL5) 100%-owned Noombenberry Project in Western Australia is shaping up to be a very large and high-quality deposit as the second batch of drill results continue to show bright to ultra-bright kaolinite and high-grade halloysite. Netlinkz and Uni Systems in MoU aimed at establishing partnership to connect with European market Netlinkz Ltd (ASX:NET) and Uni Systems Information Technology have signed a Memorandum of Understanding (MoU) to establish a partnership based on Netlinkz’s Virtual Secure Network (VSN) patented overlay technology platform that makes connectivity simple, fast and secure. Eclipse Metals verifies extensive high-grade cryolite-fluorite mineralisation below Ivittuut pit in Greenland Eclipse Metals Ltd (ASX:EPM) has verified extensive high-grade zones of cryolite-fluorite mineralisation beneath the pit at its Ivittuut Project in Greenland during ongoing evaluation of historical exploration and analytical data by independent mining consultants Outokumpu Oy. Lithium Australia takes big step forward with patent for VSPC’s proprietary cathode material manufacturing process accepted Lithium Australia NL’s (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) wholly-owned subsidiary VSPC Ltd has received notice of acceptance for the patent application for its proprietary cathode material manufacturing process from IP Australia. Twenty Seven Co focused on creating value from portfolio of three projects in prime gold jurisdiction Twenty Seven Co Ltd (ASX:TSC) (FRA:U9V) is focused on creating value for shareholders from its three core projects - Mt Dimer, Yarbu and Rover - delivering exploration upside in a prime Western Australian gold mining jurisdiction.