Last Orders: ASX begins FY22 down 0.65 per cent

It wasn’t a happy start to the new financial year for Australia’s bourse, which lost nearly two thirds of one per cent today.

Likewise, the ASX200, which rose 22% in FY21, closed down 0.65% to 7,266. Meanwhile, the ASX Emerging Companies Index headed in the opposite direction and closed 0.65% higher.

Almost every sector was in the red with consumer stocks and industrials both reporting retreats of over 1%. The only sector in the green was resources, which rose 0.08%.

The top stock was rare earths explorer Australian Rare Earths (ASX:AR3), which gained over 80% after listing today.

Also listing today was $3 billion property settlements platform Pexa Group Limited (ASX:PXA) which was the biggest listing since 2019. After initially retreating on debut, it closed a modest 0.12% higher.

ANNOUNCEMENTS YOU MAY’VE MISSED

Lendlease (ASX:LLC) tipped a core operating profit between $375 million and $10 million. The company told shareholders the results were hit by COVID-19 lockdowns in key markets, particularly in London and that it is undertaking a review covering among other things the impact of COVID-related market uncertainties on the companies’ operations.

Sports Entertainment Group (ASX:SEG) announced it was buying the Perth Wildcats from Perth businessman Jack Bendat. The Wildcats are only the second professional sports team to have a direct ASX connection, with the other being NRL club the Brisbane Broncos (ASX:BBL), which is a listed entity in its own right.

Portable X-Ray company Micro-X (ASX:MX1) has launched a new version of its Rover product for use in the small animal veterinary market. The company has made its first sale, through its partnership with American firm Varexm and says the opportunity in Australia alone is worth $2.6 billion annually.

Family Zone Cyber Safety (ASX:FZO) has acquired Netref, which is a classroom management technology business. This company has a customer base in excess of 250,000 students in the USA.

Resource Development Group (ASX:RDG) substantially increased mineral resource at its Lucky Bay garnet project in WA. The company’s total mineral resource tonnage is up 1,808% from 23Mt to 438.8Mt and 86% of this is in the high confidence measured or indicated categories.

Biotech Pharmaxis (ASX:PXS) has sold Australian distribution rights for its Bronchitol and Aridol drugs to BTC Health effective immediately. The deal will see $2 million see paid to the company within 10 business days.

IP services firm IPH (ASX:IPH) has acquired an online automated trade mark platform – Applied Marks. IPH will pay $5 million up front and potentially another $2.1 million later subject to performance requirements.

Cannabis stock Bod (ASX:BOD) says it sold 12,187 medicinal cannabis products during FY21 which represents a 212% increase on FY20. Bod also claims to have 46% of the total Australian market for full plant high CBD products and that 65% of prescriptions sold were repeat customers.