by Peter Milios
At the closing bell, the S&P/ASX 200 was 1.04 per cent higher at 7,034.10, with the Energy sector leading the gains and surging 4.1 per cent, followed by the Materials sector, which was up 2 per cent.
BHP Group (ASX:BHP) shares increased 2 per cent, while Liontown Resources (ASX:LTR) shares jumped 68.5 per cent and United Malt Group (ASX:UMG) shares rose 30.8 per cent. The Health Care sector was the worst performer, falling 1 per cent, with Telix Pharmaceuticals (ASX:TLX) tumbling 3.1 per cent and Xero (ASX:XRO) shares falling 2.9 per cent.
The major banks all rose, with Commonwealth Bank (ASX:CBA) shares up 1 per cent, Westpac (ASX:WBC) up 1.4 per cent, ANZ (ASX:ANZ) up 0.9 per cent, and NAB (ASX:NAB) shares rising 0.9 per cent.
Futures
The Dow Jones futures are pointing to a rise of 51 points.
The S&P 500 futures are pointing to a rise of 5.75 points.
The Nasdaq futures are pointing to a rise of 13 points.
The SPI futures are pointing to a rise of 60 points when the market next opens.
Best and worst performers
The best-performing sector was Energy, up 4.14 per cent. The worst-performing sector was Health Care, down 0.94 per cent.
The best-performing large cap was Allkem (ASX:AKE), closing 13.71 per cent higher at $11.53. It was followed by shares in Pilbara Minerals (ASX:PLS) and IGO (ASX:IGO).
The worst-performing large cap was Xero (ASX:XRO), closing 2.87 per cent lower at $86.43. It was followed by shares in ASX (ASX:ASX) and CSL (ASX:CSL).
Asian markets
Japan’s Nikkei has lost 0.03 per cent.
Hong Kong’s Hang Seng has gained 0.67 per cent.
China’s Shanghai Composite has lost 0.47 per cent.
Company news
Liontown Resources (ASX:LTR) has rejected an indicative proposal from Albemarle, in which Albemarle would acquire all of the shares in Liontown at a price of $2.50 per share via a scheme of arrangement. The Liontown Board and its advisers determined that the offer substantially undervalues Liontown, and therefore is not in the best interests of shareholders. Shares closed 67.5 per cent higher at $2.56.
United Malt (ASX:UMG) announced it has entered into a Process Deed following Indicative Proposal from Malteries Soufflet, to acquire all of the ordinary shares on issue in United Malt for $5.00 in cash per United Malt Share. Shares closed 31.1 per cent higher at $4.51
Chalice Mining (ASX:CHN) announced that their Gonneville Resource in WA has increased by approximately 50 per cent. Commenting on the updated Resource, Chalice Managing Director & Chief Executive Officer, Alex Dorsch, said, “Gonneville is now the 2rd largest undeveloped nickel sulphide resource in Australia.” Shares closed 9.92 per cent higher at $6.84.
United States focused cleantech company Carbonxt Group (ASX:CG1) presented an update on its activated carbon production facility in Kentucky, USA. A US$500,000 payment was advanced for the project’s development with Carbonxt’s US-based JV partner, Kentucky Carbon Processing, LLC. Managing Director Warren Murphy said: “Plans for Carbonxt’s flagship, state-of-the-art activated carbon production facility continue to progress, and we are pleased to announce the allocation of the prepayment with our JV partner, KCP.” Shares closed 26.5 per cent higher at 6.2 cents.
Commodities and the dollar
Gold is trading at US$1,959.10 an ounce.
Iron ore is 0.5 per cent higher at US$121.65 a tonne.
Iron ore futures are pointing to a 1.73 per cent rise.
Light crude is trading $0.04 lower at US$72.77 a barrel.
One Australian dollar is buying 66.92 US cents.
