Last Orders: ASX slides again - falls below 7,000 mark

The ASX fell again today, as risk-on sentiment continued to reign supreme in the markets.

The ASX 200 fell 0.29 per cent, a smaller drop then yesterday but one that saw it close below 7,000 – at 6,997. Small caps fell by more, with the ASX Emerging Companies Index shedding 0.51 per cent to close at 2,090.

Analysts have put the fall in equity markets across the Asia-Pacific regions down to concerns about the latest wave of COVID cases in India on the global commodities markets.

Energy and materials were among the worst sectors losing 1.51 per cent and 0.41 per cent but tech fell the most – by over 2 per cent. The best sector was healthcare which rose over 1 per cent.

Today saw the IPO of Australia-based games developer Mighty Kingdom (ASX:MKL), which finished the day slightly down from its IPO price.

ANNOUNCEMENTS

Autoparts retailer RPM Automotive (ASX:RPM) announced the acquisitions of Elite Tyre Group and Super Tyre Mart for $1.6 million between them. The company says the industries would be value & earnings per share accretive immediately and came at a good time for the industry – with new car sales rising 22.4 per cent year on year.

Nutritional Growth Solutions (ASX:NGS), a company that makes dietary supplements for children, announced a 76 per cent jump in quarterly revenue and predominantly credited the Chinese market.

AI-based medtech company Opyl (ASX:OPL) has completed its heavily oversubscribed share purchase plan (SPP), after scaling it back by 50 per cent. The company had received $2.6m in applications, but scaled it back to $1.3m saying that it was enough to fund its growth plans for the next 24 months. The share purchase plan and the recent placement have left Opyl is now in a strong position after raising a total of $2.65m.

Resources identity Anthony Kiernan – current chairman of Pilbara Minerals (ASX:PLS) – has become chairman of Redbank Copper (ASX:RCP). In joining the company Kiernan said Redbank was well positioned to capitalise on the growing demand for copper.

Venture Minerals (ASX:VMS) told shareholders it was nearing completion of the wet screening plant at its Riley Iron ore mine. It anticipates commissioning to commence in the next two weeks and the first ore shipment would occur this quarter.

Travel agency Helloworld (ASX:HLO) unveiled its quarterly trading results in which it declared a recovery was on the horizon. It achieved $112.5 million in Total Transaction revenue in March – the highest for the financial year so far – and also secured a further $130 million assistance package for the government.