Last Orders: Tech stocks lost nearly 2 per cent; but the rest of the ASX in the green
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On a day the ASX finished nearly 0.5 per cent up, tech stood alone in the red losing more than 2 per cent.
The ASX 200 closed 0.56 per cent up at 7,068 points and the ASX Emerging Companies Index rose 0.41 per cent closing at 2,111 points.
While tech stocks lost nearly 2 per cent, most other sectors finished in the green. The best were resources, which rose over 2.2 per cent and energy rose by 1.71 per cent.
Listing on the ASX today was Kalgoorlie-based mining services company MLG (ASX:MLG). It saw a gain almost in line with the average ASX IPO gain in 2021 of 28 per cent.
Of stocks already on the bourse prior to the market open the best was gold explorer Odyssey (ASX:ODY) which intercepted visible gold at its Bottle Dump project.
Seek (ASX:SEK) gave a financial update in which it upgraded its guidance and announced all conditions precedent to its sale of part of its holdings in Chinese job site Zhaopin were satisfied. It expects to receive $560 million after tax and transaction costs and record a net profit of $150 million when it previously expected $100 million.
Furniture retailer Nick Scali (ASX:NCK) also upgraded its guidance expecting a net profit after tax of $78-$80 million. This would represent 85 to 90 per cent growth from the previous financial year and even accounts for the repayment of all JobKeeper subsidies.
The ASX’s only quantum computing stock Archer (ASX:AXE) announced it signed a new collaboration agreement with IBM. Archer will have access to the IBM Quantum Computation Centre which will include the most advanced quantum computer available to explore end-user applications.
Uranium play Boss Energy (ASX: BOE) announced it had all the permits required by federal and state governments to re-start its Honeymoon project in South Australia. The company plans to complete an Enhanced Feasibility Study in the coming weeks with binding offtake contracts but a firm date to restart was not announced.
Classic Minerals (ASX:CLZ) signed a mining lease at its Kat Gap gold project in WA. The company says the lease, which is valid until 2042, is a major milestone in its progression from exploration to mining.
Cancer-fighting biotech Oncosil (ASX:OSL) obtained regulatory approval for the device the company is named after for the treatment of locally advanced pancreatic cancer. While Hong Kong lacks the population of the US and Europe the company says this is an attractive market because of the small number of hospitals and high levels of healthcare spending per capita compared to other Asia markets.
Race Oncology (ASX:RAC) – capital raising
Surefire Resources (ASX:SRN) – drilling results
Clean Seas Seafood (ASX:CSS) – capital raising
New World Resources (ASX:NWC) – capital raising
Total Brain (ASX:TTB) – commercial contract
Carbonxt (ASX:CG1) – capital raising
Black Cat Syndicate (ASX:BC8) – capital raising
Octanex (ASX:OXX) – capital raising