Last Orders: ASX finishes higher, but only slightly
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The ASX had a mixed day but closed narrowly in the green with a 0.03 per cent gain to 7,095 points while the ASX Emerging Companies Index gained 0.25 per cent to 2,164 points.
While more sectors were down rather than up, it was offset by tech gaining nearly 2 per cent and resources rising 0.92 per cent. The only sector in negative territory by over 1 per cent was utilities.
Today’s top winner was the ASX’s newest telco Swoop Holdings (ASX:SWP). It raised $20 million as part of a reverse takeover at 50 cents per share and closed at $1.25 – a 172 per cent premium.
Shares in the broader Asia-Pacific region were mixed contemplating the first trade discussions between the US and China since Joe Biden took office as well as mixed messages from various central banks about when interest rates might rise again.
While New Zealand might hike rates as early as September this year, South Korea’s central bank governor said there would be a withdrawal but it would be “orderly” in the face of accelerating inflation.
Wide Open Agriculture (ASX:WOA), one of the few stocks involved in plant-based foods, told shareholders it completed an extensive research program and had successfully developed some early-stage food and drink prototypes using its lupin-based concentrate. The company says this is the most significant milestone in the project to date and was a major step towards its commercial viability.
Medtech Advanced Human Imaging (ASX:AHI) obtained CE Mark approval for its DemaScan AI device, which scans for skin conditions. The company claims this will now provide access to over 20,000 dermatologists across the EU.
Another biotech getting regulatory approval was Next Science (ASX:NXS), which won Australian approval for its BlastX antimicrobial wound gel. Sales will begin next month, adding to its availability in the US, EU and UK.
BNPL stock Laybuy (ASX:LBY) released its first 12 month results since listing but moved little and is well down from its IPO price. The company claimed it was going well in the UK, recording 504 per cent year on year Gross Merchandise Value (GMV) growth and it would exceed NZ$1 billion GMV globally in the coming financial year.
Red Mountain Mining (ASX:RMX) began a diamond drilling program at its Mt Maitland gold and base metals project in WA’s Murchison Region. The program will consist of two drill holes – 800m in total – to test Induced Polarisation chargeability anomalies.
Cazaly Resources (ASX:CAZ) is also starting a drilling campaign next week, at its Halls Creek copper project in WA’s Kimberly region. Drilling will start early next week with the company hiring a drilling contractor and geophysical ground crews.
Immuron (ASX:IMC) – acquisition
3D Resources (ASX:DDD) – capital raising
Prominence Energy (ASX:PRM) – capital raising and project update
DevEx Resources (ASX:DEV) – capital raising
Kingwest Resources (ASX:KWR) – capital raising
Centaurus Metals (ASX:CTM) – scoping study results