The benchmark ASX 200 index mounted a last 30-minute rally to finish just sightly lower on Wednesday, despite choppy trading overnight that saw all major US equity stock indexes fall.

The local benchmark closed the day 0.11% lower at 7,272.

Mining and Finance weighed on the index, both falling by close to 1% and 0.6% respectively, despite uranium stocks rising across the board.

Fortescue Metals (ASX:FMG) fell another 5% as the iron ore price took a 6% tumble overnight.

The FMG share price has now lost over 22% in the past month, while BHP (ASX:BHP) is down 10% over the same period.

The Tech sector has helped to negate some of those losses, with stocks like Afterpay (ASX:APT) and Xero (ASX:XRO) rising by 1.5% each.

Meanwhile, the partial reopening in NSW on Monday saw total spending rise 20 per cent higher for the day compared to the previous Monday, according to ANZ spending data.


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Uranium stocks caught a bid today, with Paladin Energy (ASX:PDN) up 19% as the Global X Uranium ETF traded on the NYSE Arca exchange surged by 22% overnight. Other uranium plays like Deep Yellow (ASX:DYL) also lifted by 18%.

A2 Milk (ASX:A2M) was amongst the best performers today, rising by 13%.

Although there was no specific company news, the A2M stock price was buoyed by an earnings announcement from Bubs Australia (ASX:BUB), which reported a 96% increase in its Q2 gross revenue.

Bubs said its growth was achieved on the back of its infant formula products sales in China, with its share price surging by 39% following the announcement.

Casino Star Entertainment (ASX:SGR) gained 6% after releasing an announcement after hours last night, refuting claims that it did not act on a 2018 recommendations report prepared by consultant KPMG regarding the casino’s anti money laundering shortcomings.

The SGR share price is down over 27% for the week since media reports surfaced suggesting that Star had engaged in many of the same improper practices as Crown Resorts (ASX:CWN).

Pointsbet (ASX:PBH) is up 5% after announcing that its wholly owned subsidiary Pointsbet Canada has signed a deal to become the official betting platform for Curling Canada.


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Pact Group (ASX:PGH) tanked 9% after announcing that it has ceased the sale process of its contract manufacturing business, and has decided to retain it instead.

The Bank of Queensland (ASX:BOQ) is down 4% despite unveiling a $369 million profit, up 221% from FY20 which it credited to the strong momentum in market conditions, particularly the boom in the housing market driven by record low interest rates.