Closing Bell: ASX gains in early trade but closes flat

The ASX clawed back initial gains to start the week, closing virtually flat today.

The ASX 200 closed at 7,394 which was neck and neck with the point it closed at on Friday despite gaining as much as 0.3% in early trade.

Meanwhile, the ASX Emerging Companies Index retreated 0.08% to close at 2,203 points.

Today’s result came despite only materials closing higher, by 1%. The worst sector was energy which shed 1.39% although most other sectors recorded more modest losses.

Australia’s market performed better than much of the Asia-Pacific with Japan the only major market rising today.

Asia’s retreat came despite Wall Street finishing last week at an all time high amidst reporting season over there which has seen 87% of S&P 500 firms reporting so far beating estimates.

TODAY’S BIGGEST WINNERS

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

Stocks highlighted in yellow rose (or fell) after making announcements during intraday trade.

Code	Name	Price	% Change	Volume
CNJ	Conico Ltd	0.057	68	158898240
AIB	Aurora Glb Trust	0.29	61	224243
ARE	Argonaut Resources	0.007	40	4920943
TYX	Tyranna Res Ltd	0.008	33	19966891
VPR	Volt Power Group	0.0025	25	6488000
AGE	Alligator Energy	0.042	20	21870001
SVY	Stavely Minerals Ltd	0.475	19	1395781
EMU	EMU NL	0.032	19	416786
AXE	Archer Materials	1.605	18	2692819
HNR	Hannans Ltd	0.007	17	1024307
REE	Rarex Limited	0.099	16	11152205
ADX	ADX Energy Ltd	0.008	14	8171212
AEV	Avenira Limited	0.008	14	1564122
CVS	Cervantes Corp Ltd	0.008	14	1344280
AVL	Aust Vanadium Ltd	0.025	14	38471212
TGH	Terragen	0.295	13	144382
A3D	Aurora Labs Limited	0.077	13	1895923
CM8	Crowd Media Limited	0.026	13	4185174
ACU	Acumentis Group Ltd	0.13	13	369780
14D	1414 Degrees Limited	0.135	13	168981
AFW	Applyflow Limited	0.009	13	30543113
GMR	Golden Rim Resources	0.009	13	16467868
MBK	Metal Bank Ltd	0.009	13	500000
TRN	Torrens Mining	0.275	12	835854

Conico (ASX:CNJ) rose with news its first ever drill-hole at the Ryberg project in Greenland intersected significant sulphide mineralisation.

Alligator Energy (ASX:AGE) told shareholders it was being included in a major US-listed American ETF which tracks uranium.

Agtech Terragen (ASX:TGH) rose off the back of its quarterly cash flow and activities report.

TODAY’S BIGGEST LOSERS

Code	Name	Price	% Change	Volume
PCL	Pancontinental Oil	0.001	-33	1000000
DRE	Drednought Resources	0.044	-29	158074281
ANL	Amani Gold Ltd	0.0015	-25	34200394
ADD	Adavale Resource Ltd	0.058	-25	18764795
DM1	Desert Metals	0.4	-20	707104
ARO	Astro Resources NL	0.004	-20	501395
DDD	3D Resources Limited	0.004	-20	8222401
CAN	Cann Group Ltd	0.315	-17	7086970
OSL	Oncosil Medical	0.05	-17	13803599
GGX	Gas2Grid Limited	0.0025	-17	771476
PRM	Prominence Energy	0.01	-17	50682925
MRD	Mount Ridley Mines	0.003	-14	29383383
DAF	Discovery Africa Ltd	0.045	-13	15434
HCD	Hydrocarbon Dynamic	0.013	-13	1010897
NZS	New Zealand Coastal	0.013	-13	7442837
WNX	Wellnex Life Ltd	0.1	-13	3283207
MAN	Mandrake Res Ltd	0.082	-13	27305375
BLZ	Blaze Minerals Ltd	0.028	-13	913133
IVT	Inventis Limited	0.007	-13	50000
ROG	Red Sky Energy.	0.007	-13	6818197
VBC	Verbrec Limited	0.15	-12	30000
LCY	Legacy Iron Ore	0.015	-12	3194965
LPD	Lepidico Ltd	0.015	-12	61799314
HT8	Harris Technology Gl	0.115	-12	1431623

Prominence Energy (ASX:PRM) told shareholders the deal to acquire 20% of Patriot Hydrogen was off. The company said it would look for other opportunities in the green hydrogen space but cited unresolved issues for pulling out of the deal with Patriot.

ANNOUNCEMENTS YOU MAY’VE MISSED

City Chic Collective (ASX:CCX) unveiled its latest acquisition – European plus-size ecommerce retailer Navabi which it will pay $9.6 million to acquire. The company also gave a trading update, reporting unaudited sales revenue for FY21 of $258 million which is over 30 per cent higher than FY20, and that trading in the US and UK to start FY22 has outweighed the impact of lockdown induced store closures in Australia.

Real estate giant GPT (ASX:GPT) however had been affected by lockdowns and today went to the step of withdrawing previous distribution guidance for calendar year 2021. The company said the first six months saw a strong recovery and it expected a recovery once trading conditions resumed but current measures made it prudent to withdraw its guidance.

One of the ASX’s newer uranium plays 92 Energy (ASX:92E) told shareholders drilling is beginning at its Gemini project in Canada’s Athabasca Basin today. The program will test twelve drill targets, which are targeting VTEM conductors coincident with bog and lake sediment uranium anomalies.

Still with uranium and nearly a fortnight since Berkeley Energia’s (ASX:BKY) application to build a uranium mine in Spain was rejected, the company announced it had taken the first steps to overturn the decision. The company submitted an “Improvement Report” to supplement the initial application, requested reassessment and expects the report will demonstrate the project is compliant with legal requirements.

Brewing stock Mighty Craft (ASX:MCL) announced it was teaming up with Torquay Beverage Company and the Inspired Unemployed to launch a zero-carb beer – Better Beer. The pair plan to launch the brand in October 2021 and it will be Mighty Craft’s first national beer launch.