There was relative calm in the Australian equity markets today, despite the heavy plunge we saw in US and European stocks last Friday.

The ASX 200 managed to avoid the Omicron carnage, and closed the day just 0.50% lower.

However only two of eleven sectors, Mining and Tech, ended up in the green while Real Estate was the worst performing sector today down by more than 1%.

Oil giants managed to hold their ground despite crude oil prices plunging by 13% on new travel restrictions concerns.

Both Woodside Petroleum (ASX:WPL) and Oil Search (ASX:OSH) fell by 1.5% and 0.5% respectively.

Elsewhere in Asia, concerns of a domino effect from Wall Street and fears about the new omicron variant were also relatively subdued, with the Nikkei and Hang Seng down only by 1%.


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Mineral Resources (ASX:MIN) signed a deal with Hancock Prospecting to jointly investigate the development of a new iron ore export facility at the Port of Port Hedland. The JV would look into services for the mines including rail haulage and port services. MIN says this partnership and infrastructure sharing is the first of its kind in the Australian resources industry.

Vulcan Energy (ASX:VUL) signed a binding lithium hydroxide offtake agreement with Stellantis N.V. The deal will see VUL supply between 81,000 tonnes and 99,000 tonnes of battery grade lithium hydroxide over the duration of the initial five-year agreement, staring from 2026.


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Specialty packaging company Pack Group (ASX:PGH) plunged 12% today after announcing that EBIT in the first half of FY22 to be around $80 million, which is $5 million lower than the prior year.