Last Orders: ASX gains nearly 1 per cent back from the long weekend
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The ASX 200 just closed 0.92 per cent up at 7,380 points — a new record high. The ASX Emerging Companies Index however fell 1.66 per cent, closing at 2,180.
The best sector on the ASX was health which gained over 2 per cent while consumer stocks and tech both gained over 1.5 per cent.
The only sector in negative territory was utilities which fell 0.11 per cent.
Today’s gain came despite a mixed performance on Wall St overnight as investors looked to the Federal Reserve’s latest monetary policy meeting happening this week. It is expected to provide clues on when interest rates will rise again.
Australia’s central bank released minutes of its meeting a fortnight ago which gave little cause of concern for investors. The minutes showed members thought it would be premature to consider ceasing its bond-buying scheme.
The biggest winner on the ASX today was Isentia (ASX:ISD) off the back of a takeover bid at a 157 premium.
In other notable company news, Nuix’s (ASX:NXL) troubles claimed the scalp of CEO Rod Vawdrey who has given notice to retire but will stay until a replacement is found.
Macquarie’s other recent IPO Keypath Education (ASX:KED) is also slightly below its IPO price but today saw a boost after lifting its revenue guidance. It forecasted US$91 million in its prospectus but is now expecting US$94-$96 million crediting positive enrolment growth and student retention in the past quarter.
Hawkstone Mining (ASX:HWK) has announced plans to spin out its portfolio of gold and copper assets into a separate company (Diablo Resources) and accordingly will change its name to Arizona Lithium. Hawkstone has also pencilled in in next quarter as when it would commence another drilling campaign at its Big Sandy project.
BNPL play Payright (ASX:PYR) gave a trading update in which it reported a Gross Merchandise Value (GMV) increase to $16.9 million in April and May – 135 per cent higher than the prior year. It also saw a 55 per cent increase in customers.
Perpetual Resources (ASX:PEC) has concluded an 86-hole air-core program at its Beherra project. It expects results in the next quarter and says it will set the scene for the development pathway at Beharra.
Energy explorer Winchester Energy (ASX:WEL) reported “encouraging oil and gas shows” at its project in Texas’ East Permain Basin. It says its McLeod 1705 well is drilling ahead at 5,645 feet and expects penetration of the primary target in the next few days.
European Lithium (ASX:EUR) clarified announcements from earlier this month in relation to its Phase 2 resource extension drilling program at its Wolfsberg lithium project. It included disclosure required under the JORC reporting code not included in the initial announcement.
Vection (ASX:VR1) – acquisition transaction
Gascoyne Resources (ASX:GCY) – acquisition
Firefly (ASX:FFR) – transaction
Volt Resources (ASX:VRC) – acquisition
Galena Mining (ASX:G1A) – final investment decision
OAR Resources (ASX:OAR) – capital raising
King River Resources (ASX:KRR) – pre-feasibility study completion
Jayride (ASX:JAY) – capital raising
Firefinch (ASX:FFX) – development partner
Wingara (ASX:WNR) – legal correction
Irongate (ASX:IAP) – capital raising and acquisition