by Peter Milios
At the closing bell, the S&P/ASX 200 was 0.17 per cent lower at 7,264.10, with real estate stocks weighing down the market. The REIT sector performed the worst, with Charter Hall Group (ASX:CHC) shares falling by 4.2 per cent, Scentre Group (ASX:SCG) dropping by 2.1 per cent, and Stockland (ASX:SGP) shares decreasing by 3.1 per cent.
Financials stocks initially started the session on a weaker note but have since rebounded. Commonwealth Bank (ASX:CBA) shares rose by 0.2 per cent following a positive cash profit update in its third-quarter trading report. Westpac (ASX:WBC) shares were up by 0.1 per cent, National Bank of Australia (ASX:NAB) added 1 per cent, and ANZ (ASX:ANZ) saw an increase of 0.7 per cent.
Futures
The Dow Jones futures are pointing to a fall of 30 points.
The S&P 500 futures are pointing to a fall of 2.5 points.
The Nasdaq futures are pointing to a fall of 15 points.
The SPI futures are pointing to a fall of 11 points when the market next opens.
Best and worst performers
The best-performing sector was Financials, up 0.5 per cent. The worst-performing sector was REITs, down 1.54 per cent.
The best-performing large cap was Mineral Resources (ASX:MIN), closing 2.93 per cent higher at $73.50. It was followed by shares in Worley (ASX:WOR) and Allkem (ASX:AKE).
The worst-performing large cap was IGO (ASX:IGO), closing 1.75 per cent lower at $14.63. It was followed by shares in Sonic Healthcare (ASX:SHL) and AGL Energy (ASX:AGL).
Asian markets
Japan’s Nikkei has gained 1.03 per cent.
Hong Kong’s Hang Seng has lost 1.06 per cent.
China’s Shanghai Composite has gained 0.18 per cent.
Company news
North Stawell Minerals (ASX:NSM) announced that their air core drilling program intersected broad, low-grade anomalous gold zones at their Challenger Prospect. Chief Executive Russell Krause said: “Importantly, 7 of the holes end in anomalous grade and many holes include thick intercepts.” Shares closed 8.25 per cent higher at 10.5 cents.
Radiopharm Theranostics (ASX:RAD) announced that they have received FDA orphan drug designation for RAD 301 in pancreatic cancer. CEO and Managing Director Riccardo Canevari commented, “The FDA’s decision highlights the significant demand for effective imaging agents for improved and earlier diagnosis of pancreatic cancer.” Shares closed 2.94 per cent lower at 16.5 cents.
Voltaic Strategic Resources (ASX:VSR) announced several thick pegmatites have been intercepted from the surface at TiTree project in WA. Voltaic chief executive Mr Michael Walshe, “We now have a much-improved model of the regional pegmatites at Ti Tree in terms of structure, down-hole continuity and zonation.” Shares closed 133 per cent higher at 6.3 cents.
Besra Gold (ASX:BEZ) entered into a binding gold purchase agreement for up to US$300m signed with major shareholder Quantum Metal Recovery. Executive Chair, Jocelyn Bennet, commented: “The announcement of progress of this landmark agreement, as well as the accompanying corporate changes, moves Besra’s Bau Gold Project closer to production.” Shares closed 102 per cent higher at 44.5 cents.
Commodities and the dollar
Gold is trading at US$2,034.00 an ounce.
Iron ore is 6.1 per cent higher at US$109.95 a tonne.
Iron ore futures are pointing to a 1.91 per cent rise.
Light crude is trading $0.59 lower at US$72.57 a barrel.
One Australian dollar is buying 67.71 US cents.
