Closing Bell: Another day of gains for the ASX, led by uranium

The ASX closed higher today and it was all thanks to the latest moves in the uranium sector.

Spot prices have reached ~7 year highs with the latest catalyst being the Sprott Physical Uranium Trust buying up more physical uranium and spot prices surpassed US$40 per pound.

The ASX 200 rose 0.25% to close at 7,425 while the ASX Emerging Companies Index rose 1.8%, closing t 2,513.

Energy rose over 1% and resources rose 0.9% and most other sectors gained as well. Tech was one exemption sector, retreating 0.28%.

The drop in tech was in line with the tech sectors of many other Asia-Pacific markets especially in China following reports out of the Financial Times that the Chinese government wanted to break up Ant Group’s Alipay.

EV stocks also suffered after China’s industry minister said consolidation was needed.

TODAY’S BIGGEST WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
OAK	Oakridge	0.002	100	4346519
VIC	Victory Mines Ltd	0.002	100	15095125
ANL	Amani Gold Ltd	0.003	50	354321651
92E	92Energy	0.755	47	13359526
VMY	Vimy Resources Ltd	0.235	38	25969322
HCD	Hydrocarbon Dynamic	0.019	36	13713492
ACB	A-Cap Energy Ltd	0.094	34	5610602
OEX	Oilex Ltd	0.004	33	2163094
TSC	Twenty Seven Co. Ltd	0.004	33	105666349
XTC	Xantippe Res Ltd	0.002	33	4055091
PEN	Peninsula Energy Ltd	0.29	32	24361657
EME	Energy Metals Ltd	0.42	31	965855
DLC	Delecta Limited	0.013	30	174688264
HNR	Hannans Ltd	0.013	30	42849416
NAE	New Age Exploration	0.013	30	29371828
ADD	Adavale Resource Ltd	0.07	30	13308387
DYL	Deep Yellow Limited	1.23	29	9267486
ERA	Energy Resources	0.42	27	5965459
AGE	Alligator Energy	0.076	27	129009141
THR	Thor Mining PLC	0.019	27	48574138
RD1	Registry Direct	0.029	26	1086316
BMN	Bannerman Energy Ltd	0.32	25	16355414
MRD	Mount Ridley Mines	0.005	25	20942344

Delecta (ASX:DLC) was one of the biggest uranium winners and it actually had news.

The company told shareholders it was resuming exploration at its Rex uranium project in Colorado, a decision the company explicitly said was due to optimism in the sector.

Hydrocarbon Dynamics (ASX:HCD), a company with oil and gas exploration technology, rose off the back of an update on its field trial in the Cooper Basin with a major Australian producer.

TODAY’S BIGGEST LOSERS

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
CCE	Carnegie Cln Energy	0.002	-33	1833899
KEY	KEY Petroleum	0.003	-25	3000010
MSI	Multistack Internat.	0.042	-22	946443
BXN	Bioxyne Ltd	0.028	-20	859372
LNY	Laneway Res Ltd	0.004	-20	3438000
A3D	Aurora Labs Limited	0.13	-19	1138755
Z2U	Zoom2Utechnologies	0.35	-19	7009886
VPR	Volt Power Group	0.0025	-17	1280669
CLE	Cyclone Metals	0.006	-14	533825
RNX	Renegade Exploration	0.006	-14	1645691
VOR	Vortiv Ltd	0.043	-14	2193288
FRX	Flexiroam Limited	0.034	-13	971900
A8G	Australasian Gold	0.24	-13	440194
AEV	Avenira Limited	0.007	-13	1000000
KNM	Kneomedia Limited	0.014	-13	1063977
HVM	Happy Valley	0.092	-12	460615
RDG	Res Dev Group Ltd	0.043	-12	2060043
SRK	Strike Resources	0.145	-12	2640714
FNX	Finexia Financialgrp	0.071	-11	49937
TEM	Tempest Minerals	0.024	-11	8144369
EVS	Envirosuite Ltd	0.16	-11	4614993
CZR	CZR Resources Ltd	0.008	-11	4028964
EVE	EVE Investments Ltd	0.004	-11	5000000

ANNOUNCEMENTS YOU MAY’VE MISSED

Red Sky Energy (ASX:ROG) received approval from the South Australian Department for Mining and Energy to commence slickline operations at its Killanoola oil project. Slickline work involves a metal rope being lowered into the well bore to ensure the well is clear.

Cooper Energy (ASX:COE) and AGL Energy (ASX:AGL) signed a new Gas Sales Agreement for Cooper’s Casino, Henry and Netherby fields in the Otway Basin. The new deal will take effect in the start of the new year and the pair say it will reduce third party gas purchases and optimise value.

The ACCC knocked back the proposed joint venture between Qantas (ASX:QAN) and Japan Airlines. Chairman Rod Sims said it did not pass the ACCC’s test that public benefits would outweigh the harm to competition with the pair flying 85% of passengers between Australia and Japan pre-pandemic.

Nuix (ASX:NXL) has bought Topos Labs, a company developing Natural Language Processing (NLP) software helping computers better understand text and spoken words at speed and scale using AI. The initial cost is US$5 million with potential for a further US$20 million, mostly paid in cash which Nuix anticipates being able to fund through its ordinary operations.

Australian Ethical (ASX:AEF) topped up its stake in software company Bravura Solutions (ASX:BVS). It now owns 6.06% of Bravura having forked out nearly $8 million since mid-April.

Challenger (ASX:CGF) has sold its 30% stake in infrastructure investment manager Whitehelm Capital to industry peer Patrizia. The sale will reap approximately $50 million.