Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 closed up 0.58% at 8.343 points after the RBA cut rates by 25 basis points.
IT was the best performing sector, up 2.3%, followed by Real Estate, up 1.4%, and Telecommunications, up 1.2%.
Utilities was only substantial loser, down 0.55%.
In the Green
PainChek (ASX:PCK) closed up 4.55% on the appointment of Nick Garofoli as head of business development for the United States.
PainChek closed at 4.6 cents.
True North Copper (ASX:TNC) closed up 11.6% after completing its reverse-circulation drilling program at the Great Australia Mine complex, part of the Cloncurry Copper Project in Queensland, and has commenced a new regional exploration drilling campaign at Mt Oxide.
True North Copper closed at 24 cents.
Brazilian Rare Earths (ASX:BRE) closed up 1.0% after inking a strategic partnership with Senai Cimatec, a Brazilian research and education institution, to jointly develop a laboratory and pilot plant facility in Brazil.
Brazilian Rare Earths closed at $1.90.
In the Red
Kogan (ASX:KGN) closed down 8.8% as investors responded negatively to reported strong sales growth and profitability for the four months ended April 30, supported by significant marketing investments.
Kogan closed at $4.12.
Chimeric Therapeutics (ASX:CHM) closed down 37% on news of a $6.6 million two-tranche placement aimed at advancing its clinical trial pipeline.
Chimeric Therapeutics closed at $0.005.
OFX Group (ASX:OFX) closed down 34.6% on release of its full-year results for the year ended March 31, reporting revenue of $221.9 million, down 3.4% year-on-year (1% on a constant currency basis), reflecting continued resilience in a challenging macroeconomic environment.
OFX Group closed at 86 cents.
-1200x645-380x200.jpg)
