Last Orders: ASX starts the week slightly higher
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Australian shares had a positive start to the week despite closing well off intraday highs.
After gaining as much as 0.44% the ASX 200 closed just 0.09% higher at 7,315 points. The ASX Emerging Companies Index meanwhile lost 0.33%, closing at 2,170.
Industrials and energy were the best performing sectors gaining 4.93% and 2.03% respectively while the worst sector was tech, which lost 0.98%.
Topping the bourse today was Sydney Airport (ASX:SYD) off the back of a takeover offer despite the company giving it the cold shoulder – for now.
A2 Milk (ASX:A2M) received approval from the New Zealand Overseas Investment Office (OIO) to buy a 75% stake in Matura Milk. Mature will operate as a 75-25 venture between it and China Animal Husbandry Group, which is currently the majority shareholder.
Vulcan (ASX:VUL) has hired lithium and energy engineering consultants for its Definitive Feasibility Study. The company is targeting completion in 12 months and says its $120 million capital raise in February has fully funded the study.
West African Resources (ASX:WAF) produced 63,610 ounces of gold during the June quarter, which CEO Richard Hyde said was a record quarter for the company.
Fremont Petroleum (ASX:FPL) reported selling 24,230 barrels of oil equivalent in the last quarter, 20% more than forecast. The company said the best was yet to come, noting that this result came despite some leases in its portfolio being offline and current production did not reflect the future potential of its total portfolio.
Australian Ethical (ASX:AEF) is expecting an underlying profit after tax between $10.7 million and $11.2 million. It also revealed its Emerging Companies Fund returned 51% in FY21 against its benchmark which returned 33% and resulting in a performance fee of $2.89 million.
Dicker Data (ASX:DDR) gave a trading update for the first half of 2021 estimating just over $1 billion in audited revenue and an estimated profit before tax of $45 million. While these are only modest gains from the previous year, the company says there is backlog of orders that it expects to fulfil in the second half of the year.
Poseidon Nickel (ASX:POS) – ASX query and assay results
Highfield Resources (ASX:HFR) – status of mining concession
Metgasco (ASX:MEL) – capital raising
Carpentaria Resources (ASX:CAP) – capital raising