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The ASX200 has been up 0.10% at 8,206 points. The unfolding conflict in the Middle East continues to adversely impact investor sentiment.
Back home and to the sectors, Real Estate is the best performing sector, up 1.15%, followed by Telecommunication, up 0.5%. The Energy sector has pared some of yesterday’s gains, down 0.5%, followed closely by Healthcare, down 0.15%.
Company News
Infinity Mining Ltd (ASX:IMI) has been down 18% after acquiring the Cangai copper project in New South Wales from Castillo Copper (ASX:CCZ).
The mine has a mineral resource estimate (MRE) of 4.4 million tonnes (Mt) at 2.5% copper (Cu) and an indicated MRE of 0.2 million tonnes at 1.35% Cu.
Infinity has been trading at 3.5 cents.
Westpac Banking Corp (ASX: WBC) has been down 1.00% despite entering into an agreement to sell its auto finance loans and lease receivables to Resimac Group (ASX: RMC). The transaction is expected to close in the first half next year for up to $1.6 billion.
Westpac has been trading at $30.79.
Guzman Y Gomez (ASX: GYG) has been down 4.5% after Goldman Sachs’ kicked off coverage with a sell rating and a $33.20 price target. The ratings is based on GYG having an overly ambitious expansion profile without precedent in Australia.
Guzman Y Gomez has been $37.55.
Origin Energy (ASX:ORG) has been up 0.15% on news its hydrogen ventures will cease due to cost pressures. The move is a dent in the federal government’s hydrogen renewable energy transition plans, and it follows Shell ditching plans to build a hydrogen plant in Norway last week.
Origin Energy has been $10.38.
