Closing Bell: The ASX gained 0.6 per cent in the first hour but finished downward as investors ponder Sydney COVID’s situation
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Closing Bell is Stockhead’s daily recap of the trading day on the ASX covering the overall direction of the market, biggest winners and losers as well as other news you might’ve missed during the trading day.
Today, ASX shareholders were taken on a rollercoaster ride. The benchmark ASX 200 gained 0.6% in the first hour but gradually declined to close just below the red by 0.02% – at 7,332 points.
The ASX Emerging Companies Index however finished 1.33% higher at 2,190.
The best sectors were resources and materials, which rose over 0.8% while property trusts led the laggards, retreating 0.86%.
After weeks of shrugging off Sydney’s outbreak, it arguably has finally hit home for investors that having New South Wales cut off from the rest of the country might threaten the entire nation’s economic recovery.
Investors were also unimpressed by the federal government’s support package to address this concern, which was formally unveiled this afternoon after been foreshadowed for several days.
While it has inevitable for a few days that the lockdown will be extended, the NSW state government will announce tomorrow just how long current restrictions might last for.
Most other markets in Asia have gained today, following Wall Street’s latest record high with the Hang Seng in Hong Kong leading the charge gaining over 1.5%.
Scroll or swipe to reveal table. Click headings to sort.
Stocks highlighted in yellow rose (or fell) after making announcements during intraday trade.
Youfoodz (ASX:YFZ) received a takeover bid from HelloFresh at 93 cents per share, which came after a horror 7 months for shareholders as a listed company since debuting at $1.50 a pop.
Today’s new listee, WA mineral sands company Industrial Minerals (ASX:IND), rose by over 70% on its first trading day.
And almond company Select Harvests (ASX:SHV) says the company is set to record a record almond crop of 28,250 metric tonnes in 2021 and is seeing solid progress being made toward’s next year’s crop.
Aerial mapping company Nearmap (ASX:NEA) climbed with a financial update that exceeded previous guidance. It expects its Annual Contract Value (ACV) to close FY21 at $133.8 million predominantly thanks to its record performance in North America.
Still with the US, medtech PolyNovo (ASX:PNV) says its revenues are on the rebound after being hit thanks to COVID-19. It reported revenue from BTM device is up 49% in FY21 over FY20 and it made US$4.9 million in revenue in the past quarter compared to US$3.3 million in the June quarter in FY20.
One of the best performing recent listees,, Australian Rare Earths (ASX:AR3), announced it had been granted another exploration license which increased its tenure at Koppamurra in South Australia by over 40% to 2,136 square kilometres. The company says it will undertake a significant drilling program in December quarter of this year.
Hydrogen aspirant Global Oil and Gas (ASX:GLV) says COVID-19 lockdowns in WA and NT hit a planned on-ground survey planned to commence earlier this month. The survey is now expected to begin at the end of the month travel restrictions permitting.
PNG Bank BSP Financial (ASX:BFL) says local regulators believe it breached AML/CTF laws and have consequently issued it a formal warning and required it to replace its CEO as well as appoint an external auditor. The company says it would consider its legal options.
Leaf Resources (ASX:LER) – business update
Caspin Resources (ASX:CPN) – capital raising
NewPeak Metals (ASX:NPM) – capital raising
Cirralto (ASX:CRO) – referral agreement revenues
Liontown Resources (ASX:LTR) – capital raising
Cokal (ASX:CKA) – financing arrangement
Frugl (ASX:FGL) – capital raising
Field Solutions (ASX:FSG) – business update
Indiana Resources (ASX:IDA) – drilling results
iCar Asia (ASX:ICQ) – change of control transaction
Xstate Resources (ASX:XST) – acquisition