by Peter Milios
The ASX continued on an upswing from lunch. However, it was not enough to lift the ASX higher. Overall, at the closing bell, the S&P/ASX 200 was 0.21 per cent lower at 7,336.30.
Big gains from Energy and Materials were able to cut the losses short, as Santos (ASX:STO), Woodside (ASX:WDS) and Fortescue Metals (ASX:FMG) saw gains.
Futures
The Dow Jones futures are pointing to a fall of 125 points.
The S&P 500 futures are pointing to a fall of 16.5 points.
The Nasdaq futures are pointing to a fall of 37.5 points.
The SPI futures are pointing to a fall of 17 points when the market next opens.
Best and worst performers
The best-performing sector was Materials, up 0.61 per cent. The worst-performing sector was Communication Services, down 1.18 per cent.
The best-performing large cap was Pilbara Minerals (ASX:PLS), closing 4.52 per cent higher at $4.39. It was followed by shares in BlueScope Steel (ASX:BSL) and Mineral Resources (ASX:MIN).
The worst-performing large cap was Altium (ASX:ALU), closing 5.78 per cent lower at $37.69. It was followed by shares in Infratil (ASX:IFT) and Mercury NZ (ASX:MCY).
Asian markets
Japan’s Nikkei has lost 0.17 per cent.
Hong Kong’s Hang Seng has lost 0.94 per cent.
China’s Shanghai Composite has lost 0.58 per cent.
Company news
There has been an off-market takeover offer to acquire 100 per cent of New Century Resources (ASX:NCZ) at a best and final price of A$1.10 cash per share by US-listed Sibanye-Stillwater. The offer represents around a 43 per cent premium on yesterday’s closing price of $0.77. Shares closed 42.9 per cent higher at $1.10.
Aston Minerals (ASX:ASO) has announced the delineation of a maiden nickel-cobalt sulphide Mineral Resource Estimate across Boomerang. In response, Managing Director, Dale Ginn, commented, “The Boomerang Resource is now confirmed as one of the world’s biggest nickel-cobalt deposits.” Shares are trading 19.3 per cent higher at 10.5 cents.
GTI Energy (ASX:GTR) has announced that they have secured a significant new uranium project in Wyoming. In response, GTI Executive Director Bruce Lane commented, “The project is located in Wyoming’s most prolific production district [and this] has the potential to become a significant asset for GTI as we continue to build and diversify our Wyoming uranium portfolio.” Shares closed 9.1 per cent at 1.2 cents.
Commodities and the dollar
Gold is trading at US$1,846.90 an ounce.
Iron ore is 1.8 per cent higher at US$129.55 a tonne.
Iron ore futures are pointing to a 3.15 per cent rise.
Light crude is trading $0.00 higher at US$76.34 a barrel.
One Australian dollar is buying 68.95 US cents.
