by Peter Milios
Australian shares remained resilient to ex-dividend falls in major companies, including BHP (ASX:BHP), Rio Tinto (ASX:RIO), and CSL (ASX:CSL), as most sectors rose after the US market stabilised.
The benchmark S&P/ASX 200 index ended up 0.05 per cent or 3.3 points higher at 7,311.10, with gains led by the tech sector and consumer discretionary sector.
Job cuts at Xero (ASX:XRO) and strong results from Myer (ASX:MYR) contributed to the positive sentiment.
Coal miners rose strongly, and bank shares gained amid rising interest rates. Despite the ex-dividend falls, nine of eleven share market sectors closed in the green.
Futures
The Dow Jones futures are pointing to a fall of 17 points.
The S&P 500 futures are pointing to a fall of 3.75 points.
The Nasdaq futures are pointing to a fall of 18.25 points.
The SPI futures are pointing to a rise of 39 points when the market next opens.
Best and worst performers
The best-performing sector was Information Technology, up 2.71 per cent. The worst-performing sector was Health Care, down 1.52 per cent.
The best-performing large cap was Xero (ASX:XRO), closing 10.66 per cent higher at $87.00. It was followed by shares in Whitehaven Coal (ASX:WHC) and Yancoal Australia (ASX:YAL).
The worst-performing large cap was Meridian Energy (ASX:MEZ), closing 2.63 per cent lower at $4.81. It was followed by shares in Infratil (ASX:IFT) and CSL (ASX:CSL).
Asian markets
Japan’s Nikkei has gained 0.51 per cent.
Hong Kong’s Hang Seng has gained 0.30 per cent.
China’s Shanghai Composite has gained 0.40 per cent.
Company news
Prescient Therapeutics (ASX:PTX) has announced that the US FDA Grants Orphan Drug Designation to PTX-100 for broader TCL indications. Prescient Managing Director and CEO Steven Yatomi-Clarke said “This now confers the certainty of 7 years of market exclusivity for PTX-100 in a broader range of diseases with unmet or poorly met clinical need.” Shares closed 28.9 per cent higher at 12.5 cents.
Lindian Resources (ASX:LIN) has announced that their Kangankunde Rare Earths project has continued to deliver high-grade rare earth assays and extensive intersections. Lindian’s Chief Executive Officer, Alistair Stephens commented: “As we expected, these latest assays continue to demonstrate high grade and very broad, consistent intersections of non-radioactive mineralisation.” Shares closed 18.4 per cent higher at 29 cents.
Solstice Minerals (ASX:SLS) has announced high grade nickel sulphide drill results at their GSP Prospect. In response, Chief Executive Officer and Managing Director, Mr Nick Castleden said: “The delivery of these compelling nickel hits in the very first phase of drilling is a great result and a credit to the targeting skills of the Solstice team and validates the GSP Prospect as a ‘live’ high-tenor nickel sulphide system.” Shares closed 12.9 per cent higher at 17.5 cents.
Commodities and the dollar
Gold is trading at US$1,818.80 an ounce.
Iron ore is 0.1 per cent lower at US$127.90 a tonne.
Iron ore futures are pointing to a 1.3 per cent fall.
Light crude is trading $0.02 lower at US$76.64 a barrel.
One Australian dollar is buying 66.11 US cents.
