TMH Market Close: ASX 200 ends the working week on a high

The ASX 200 closed the week trading higher – up 0.6 per cent.

The tech sector ended the week on top, up more than two per cent. The financials and communication services sectors were close behind, while the utilities sector lost out, down 0.5 per cent.

In the green

The Industrials sector received an uptick.

Austal‘s (ASB) US subsidiary has been awarded a US$3.19 billion contract for the design and construction of up to seven T-AGOS ships for the US Navy. The company jumped 25.08 per cent to $1.99.

Pan Asia Metals (PAM) also jumped after signing a non-binding deal with VinES Energy Solutions Joint Stock Company.

The 36-month deal will see both organisations come together to assess the potential development of a 20,000 tonnes per annum stand-alone lithium conversation facility in Vietnam. Pan Asia shares closed at 28.5 cents.

And Electric Optic Systems (EOS) received an uptick after its EM Solutions business secured a contract with the Australian Defence Force, valued at A$202 million. EOS closed at 89.5 cents.

In the red

Dusk Group’s (DSK) share price sunk after releasing its full-year guidance for the 2023 financial year, revealing sliding year-on-year sales.

CEO Peter King said sales were impacted by mounting cost-of-living pressures impacting the disposable income levels of its core customers. Dusk Group was down 18.81 per cent, to $1.23.  

Nexion Group (NNG) toppled nearly 12 per cent to 1.5 cents. It comes just a day after executing a term loan agreement with PARC Capital Fund Services for $21 million.

The cash will be used to fund the acquisition of technology services businesses in Australia and New Zealand.

And Bryah Resources (BYH) lowered to 1.7 cents. The company received results from its latest diamond drilling program at the Bryah Basin Windalah copper-gold project in Western Australia, receiving results of up to 3.88 grams per tonne of gold.