The ASX 200 climbed by 0.20%, despite the release of NAB’s monthly survey which shows business conditions in Australia are falling in June.

Australian business conditions fell by 12 points to +24 index points after reaching a new high last month, according to the survey.

Writing exclusively for the AFR, finance expert Mohamed El-Erian says thay lower bond yields are no longer good for stocks, arguing that “markets might be pricing a sharp deterioration in growth prospects.”

Almond producer Select Harvests (ASX:SHV) rose by 16% after saying that harvest has been completed, and 100% of the 2021 crop has been delivered its Carina West processing facility. The almond industry has experienced significant growth in global demand across all markets, particularly in traditional almond markets: India, Europe and China.

TOP 25 BIG CAP WINNERS

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Geospatial map specialist Nearmap (ASX:NEA) is amongst the best performers today, saying that its annual contracted value (ACV) portfolio is expected to close FY21 at $133.8m, exceeding recently upgraded guidance of $128m-$132m. The ACV growth was driven by another record performance in North America, validating the company’s refined go-to-market strategy.

Industrial explosives company, Incitec Pivot (ASX:IPL), rose 6.5% after saying that it will implementing changes to its manufacturing model from a global to a regional management structure, as foreshadowed at its first half results announcement.

Recently listed copper explorer 29Metals (ASX:29M) was up almost 5%, after giving an investor presentation explaining its vision and strategy, telling investors that its goal is to deliver 50% organic production growth (in Cu-eq terms) over 5 years.

Healthcare Pro Medicus (ASX:PME) and Magellan Financial (ASX:MFG) rose 2% without new announcements.

 

TOP 25 BIG CAP LOSERS

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