by Peter Milios
At the closing bell, the S&P/ASX 200 was 0.10 per cent higher at 6,962, and closed almost unchanged despite a rise in US futures.
The index ended up 0.1 per cent at 6962, with eight of the 11 sectors rising, led by defensive sectors like Utilities, Health Care, Communications, and Staples, along with Property, Tech, and Industrials.
However, losing sectors included Energy, Discretionary, and Financials. Reports of a potential buyer for Silicon Valley Bank and the expansion of the US emergency lending program for banks boosted US futures by 0.5 per cent.
Futures
The Dow Jones futures are pointing to a rise of 132 points.
The S&P 500 futures are pointing to a rise of 19.25 points.
The Nasdaq futures are pointing to a rise of 51.75 points.
The SPI futures are pointing to a rise of 3 points when the market next opens.
Best and worst performers
The best-performing sector was Utilities, up 2.16 per cent. The worst-performing sector was Energy, down 2.3 per cent.
The best-performing large cap was AGL Energy (ASX:AGL), closing 3.22 per cent higher at $7.69. It was followed by shares in Origin Energy (ASX:ORG) and Endeavour Group (ASX:EDV).
The worst-performing large cap was Mercury NZ (ASX:MCY), closing 3.81 per cent lower at $5.55. It was followed by shares in Pilbara Minerals (ASX:PLS) and Woodside Energy Group (ASX:WDS).
Asian markets
Japan’s Nikkei has gained 0.47 per cent.
Hong Kong’s Hang Seng has lost 0.95 per cent.
China’s Shanghai Composite has gained 0.31 per cent.
Company news
ImpediMed (ASX:IPD) announced that the National Comprehensive Cancer Network (NCCN) released a new version of the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines) for Survivorship, which now, for the first time, include bioimpedance spectroscopy. In response, Managing Director and CEO, Richard Valencia, commented, “The authors of the NCCN Guidelines are world leaders in global cancer care driven by sound clinical evidence and patients’ best interests.” Shares closed 112 per cent higher at 12.5 cents.
Alloggio Group (ASX:ALO) today announces that it has entered into a Scheme Implementation Deed with Next Capital, in which Next Capital would acquire 100 per cent of ALO shares for $0.30 per share in cash. Matthew Keen, Independent Non-executive Director of ALO, stated, “After careful consideration, the Independent Board Committee has concluded that the proposal is in the best interests of ALO shareholders and unanimously recommends that shareholders vote in favour of the Scheme.” Shares closed 44.7 per cent higher at 27.5 cents.
Great Boulder Resources (ASX:GBR) announced more spectacular RC results from their Mulga Bill prospect in WA. Great Boulder’s Managing Director, Andrew Paterson commented: “These are extremely high-grade results, and the spectacular visible gold intersections have garnered plenty of attention.” Shares closed 8.05 per cent higher at 9.4 cents.
Commodities and the dollar
Gold is trading at US$1,974.50 an ounce.
Iron ore is 0.7 per cent higher at US$121.10 a tonne.
Iron ore futures are pointing to a 1.34 per cent rise.
Light crude is trading $0.18 higher at US$69.44 a barrel.
One Australian dollar is buying 66.49 US cents.
