S&P/ASX 200 gains as home loan commitments rise to another new high

S&P/ASX 200 (INDEXASX:XJO) is on track for a third straight day of gains as it rose 0.26% to 7,279 points by about 1.10 pm as new loan commitments in Australia for housing lifted in April. New loan commitments for housing rose 3.7% in April 2021 (seasonally adjusted) to a record high of $31.0 billion according to statistics released today by the Australian Bureau of Statistics (ABS). ABS head of Finance and Wealth Katherine Keenan said: “The value of new loan commitments for owner occupier housing reached another all-time high in April 2021, up 4.3% to $23.0 billion. “New loan commitments for investors rose 2.1% to $8.1 billion, which was the highest level since mid-2017.” US jobless claims decline Data released overnight in the US, including initial jobless claims and payrolls, came in better than expected showing strong signs for the US economy. However, investors now fear that the US Federal Reserve stimulus could be withdrawn sooner than previously expected. Investors will closely watch the critical US nonfarm jobs data which will be released tonight. Bitcoin slips Elon Musk spooked Bitcoin investors with a series of tweets which resulted in a quick drop in price for the cryptocurrency. The cryptic broken-heart tweet from Musk hinted at a potential split with the largest cryptocurrency. #Bitcoin ???? pic.twitter.com/lNnEfMdtJf — Elon Musk (@elonmusk) June 4, 2021 Musk has been a major bitcoin supporter but has turned critical since suspending Tesla’s plan to take it in payment for cars owing to concerns about its energy use. Top gainers Today’s top gainers on the ASX include 9 Spokes International Ltd (ASX:9SP) (+20.00%), Zelira Therapeutics Ltd (ASX:ZLD) (+6.12%), Volt Resources Ltd (ASX:VRC) (+6.25%), OAR Resources Ltd (ASX:OAR) (+6.67%), Cirralto Ltd (ASX:CRO) (+6.78%) and Alchemy Resources Limited (ASX:ALY) (+6.25%). Proactive news headlines: Volt Resources closer to graphite production with loan agreement executed and US$4 million drawn for ZG Group acquisition Volt Resources Ltd (ASX:VRC) (FRA:R8L) has executed a full form loan agreement and associated security documents with European investment company JES Green Investments Limited for provision of a US$8.5 million loan facility to assist with funding Volt’s acquisition of a 70% interest in the Zavalievsky group (ZG) of companies. Great Boulder Resources consolidates ownership at Yamarna battery metals project Great Boulder Resources Ltd (ASX:GBR) has moved to full ownership of the Yamarna battery metals project near Laverton in WA. Moho Resources progresses golden opportunity at East Sampson Dam with maiden resource upcoming Moho Resources Ltd (ASX:MOH) continues to make progress at East Sampson Dam prospect within the Silver Swan North Gold Project in Western Australia with the maiden resource estimate upcoming. 9Spokes jumps on signing milestone three-year contract with Virgin Money UK 9Spokes International Ltd (ASX:9SP) has signed a three-year contract with Virgin Money UK PLC (VMUK) to deliver a VMUK instance of the 9Spokes platform comprising Track, Connect and Explore for the bank’s SMB customers, and bank serving products Engage and Monitor. Lake Resources fields strong interest for debt financing amid electric vehicle boom Lake Resources N.L. (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) is moving closer to securing debt financing to develop its flagship Kachi Lithium Project from which it aims to produce cleaner and greener lithium to service growing global demand. Mako Gold continues to grow Tchaga prospect at Napié with hits up to 9.85 metres at 6.63 g/t Mako Gold Ltd (ASX:MKG) continues to expand Tchaga prospect at the Napié Project in Côte d’Ivoire with further reverse circulation (RC) and diamond drilling returning up to 17 metres at 3.06 g/t gold from 129 metres and 9.85 metres at 6.63 g/t from 213.15 metres, including 2 metres at 30.15 g/t. BlackEarth Minerals plans auction for remaining BEMAF partly paid shares BlackEarth Minerals NL (ASX:BEM) intends to hold an auction for up to 4,541,426 BEMAF partly paid shares due to non-payment of a call on these shares. Kin Mining hones in on prospective regional gold trends at Cardinia Kin Mining NL (ASX:KIN) has tabled further robust gold assays from exploration work at the Cardinia Gold Project (CGP) regional prospect of Mount Flora