Last Orders: Tech & the rest of the ASX continue their divergence; but today tech gained
Link copied to
The inverse relationship between the tech sector and the rest of the ASX continued today though the tide has turned today.
The ASX 200 lost 0.84 per cent, falling to 6,7314 while the ASX 200 Information Technology Index rose 3.64 per cent.
The ASX’s other sectors were mixed with energy and materials both losing over 2 per cent while industrials and health were 1.25 per cent and 0.83 per cent in positive territory.
Small caps fared slightly better – the ASX Emerging Companies Index gained 0.20 per cent, reaching 1,948 points.
The top winner with news was Canadian focused gold play Aston Minerals (ASX:ASO) which rose over 60 per cent after hitting visible gold at its Edleston project.
Today also saw the IPO of West African iron ore play Genmin (ASX:GEN). Its shares debuted at 1pm (AEDT) but finished the day down 13 per cent from its IPO price.
Porphyry hunter Alice Queen (ASX:AQX) announced it would be expanding into Fiji, acquiring local corporation Viti Mining which has 2 projects in the Pacific Islands nation.
Edtech company Janison Education Group (ASX:JAN) was accredited by the OECD as sole provider in Australia of the PISA for schools assessment. The roll out will start in NSW and tests will start next month.
Playside Studios (ASX:PLY) signed a license agreement with MGM to create a video game based on the Legally Blonde films. The move by MGM marks 20 years since the first instalment in the series as well as the third film coming out next year.
Investment company Auctus (ASX:AVC) announced it is expanding into Asia, by buying a 9.9 per cent stake in asset manager Odyssey for US$500,000. Auctus has the option to move to 100 per cent control over a staggered 2 year period and will start the collaboration by launching its US Student Housing Fund to Odyssey’s clients.
Uranium play Vimy Resources (ASX:VMY) will soon acquire 100 per cent of the Alligator River uranium project in the Northern Territory. It will snap up the 20.89 per cent it doesn’t own from Rio Tinto (ASX:RIO) for $2m in Vimy shares.
Golden Mile Resources (ASX:G88) – capital raising
Carnavale Resources (ASX:CAV) – capital raising
IODM (ASX:IOD) – Western Union partnership update
Western Areas (ASX:WSA) – capital raising
Cohiba (ASX:CHK) – exploration results
New Century Resources (ASX:NCZ) – auditor update
Insurance Australia Group (ASX:IAG) – impact of Greensill’s insolvency