Australia’s bourse had its biggest decline since February 26 falling by over 2%.

The ASX 200 fell 2.1% to close at 7,248 and is down 5% since August 13. The ASX Emerging Companies Index fared worse, losing over 4% in its worst day since April 2020.

The worst sector was materials which shed 3.74%, followed by energy which lost 2.99% and tech which lost 2.75%.

Utilities was the only positive sector gaining 1.01% – possibly triggered by this morning’s takeover bid for energy network operator AusNet (ASX:AST).

Several other Asian markets were closed for holidays but the few that were opened followed the ASX’s fate, with Hong Kong down 3.4% hitting a 12 month low.

This followed a soft finish on Wall St last week as investors pondered disappointing consumer confidence data and anticipated the Federal Reserve outlining its plans to taper stimulus which is responsible for much of the rally in equity markets in the past 18 months, despite the pandemic.

 

TODAY’S BIGGEST WINNERS

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Topping the charts was Hannans (ASX:HNR) an explorer that had no news today but recently pivoted into the lithium space and has been rewarded by shareholders ever since.

Energy network operator AusNet (ASX:AST) and pub owner ALE Property Group (ASX:LEP) climbed after receiving takeover offers.

Engineering firm Matrix (ASX:MCE) rose after winning a $4.2 million contract with offshore drilling contractor Transocean, to upgrade its ultra-deep water drillship modules.

Small cap oil play Oilex (ASX:OEX) told shareholders it was pushing to restart the production at the C-73 and C-77H wells after executing the sale and purchase agreement to purchase the Gujarat State Petroleum Company’s 55% participating interest in the Cambay Production Sharing Contract (PSC).

 

TODAY’S BIGGEST LOSERS

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Gladiator (ASX:GLA) fell after an exploration update for its Bendoc gold project in Victoria.

ANNOUNCEMENTS YOU MAY’VE MISSED

Merchant payments business Smartpay (ASX:SMP) provided a trading update to its shareholders. While lockdowns resulted in a 15.5% drop in revenue in August compared to June, the company reported 200 new terminals coming on board and said their impact would be noticed in the coming months.

Karoon Energy (ASX:KAR) made a full year net profit of US$4.4 million. It also reported producing 3.14 million of barrels from the Bauna oil field in Brazil since acquiring it last November.

The Australian Unity Office Fund (ASX:AOF) updated shareholders on its proposed merger with Australian Unity Diversified Property Fund (DPF). The deal was first proposed on July 7 but today shareholders were advised AOF will hold a slim majority (approximately 54%) of the new entity.

Biotech AdAlta (ASX:1AD) was granted $4 million in R&D rebate funding from the Victorian government. $2.4 million will be received by this month’s end with the balance to be paid by March 31 next year.

New Zealand Oil and Gas (ASX:NZO) told shareholders all conditions precedent for it to buy 3 oil assets in the NT from Central Petroleum were fulfilled. The company says the deal will be completed on October 1.

Upcoming logistics listee Zoom2u Technologies (ASX:Z2U) announced Telstra would use its platform for 2 hour delivery products. The company, which is due to list on Wednesday at 11am (AEST) said the deal would be beneficial but the materiality would be dependant on delivery volumes.

 

TRADING HALTS

Tuesday

Centrex Metals (ASX:CXM) – extension fee update
Noronex (ASX:NRX) – project acquisition and capital raising
TerraCom (ASX:TER) – refinancing update
Vango Mining (ASX:VAN) – drilling results
Epsilon Healthcare (ASX:EPN) – material order

Wednesday

Culpeo Minerals (ASX:CPO) – price and volume query
Kogi Iron (ASX:KFE) – acquisition and capital raising
GWR Group (ASX:GWR) – material update to operations
Arcadia Minerals (ASX:AM7) – JORC resource
Hillgrove Resources (ASX:HGO) – capital raising
Sipa Resources (ASX:SRI) – capital raising
Blue Energy (ASX:BLU) – capital raising
Norwest Energy (ASX:NWE) – wireline log analysis results
Lake Resources (ASX:LKE) – technology agreement
Healthia (ASX:HLA) – capital raising