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

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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

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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.

 

TRADING HALTS

Tuesday

Metal Hawk (ASX:HWK) – exploration results
Anson Resources (ASX:ASN) –
capital raising
Global Data Centre Group (ASX:GDC) –
capital raising
Dreadnought Resources (ASX:DRE) –
capital raising

Wednesday

Conico (ASX:CNJ) – capital raising
Resolution Minerals (ASX:RML) – capital raising
Golden Rim Resources (ASX:GMR) – capital raising
Cullen Resources (ASX:CUL) – exploration update
GBM Resources (ASX:GBZ) – capital raising
Corazon Mining (ASX:CZN) – capital raising
HomeCo Daily Needs REIT (ASX:HDN) – capital raising