Market Close: 4DX Medical finally pulls back; war makes ESG investing cool again

Good Afternoon and welcome to HotCopper’s Market Close for Tuesday 9th of September, I’m Jon Davidson. The ASX200 retreated back to the 8,700s intraday as Wall Street finished flattish green overnight leaving little to imagine in terms of bullish sentiment; as of 3.20pm Sydney time it looks like we could be in for more of the same tomorrow – US futures are once again flattish green.

It appears as if the US is surefire headed towards a rate cut in Mid-September, but that’s because the country’s job market appears to be on the cusp of a serious downturn. Data isn’t everything, but so far, it looks like things are heading that way – which is partially why gold is up, because investors are anticipating US interest rates to fall, with the USD the victim. 

But turning home and looking at local sectors, once again, IT up top intraday with almost every other sector in the red, just like Monday, energy leading laggards. 

Looking at companies in the green, 

Nanocap Livium Limited firmly green intraday as the microcap prepares to buy rare earth extraction technology off Melbourne University, that company is also going into the metals recycling circular economy game, showing that ESG investing is back, so long as you accept defence needs critical minerals. 

Elsewhere, well-known Swedish-based graphite player Talga green after announcing a similar strategy with that company now teaming up with a US player to, once again, look at recycling battery anodes for materials needed by defence. 

Finally, penny stock Adelong firmly green intraday after none other than Nova Minerals bought a 9.4% stake in the company, with the latter reserving the first right to any antimony offtake Adelong might or mightn’t find. A good deal for Nova. 

And turning now to the reds, 

Big 4 bank ANZ in the red intraday on little else but a general downtick for financials and the news it’s cutting thousands of jobs; market response to that news could be an indictment on the bank, given that shareholders generally like to hear about job cuts.

Elsewhere, 4DX Medical finally burst, with that stock falling -25% in the final hour of trade to $1.72 per share as a week-long run to the moon finally saw scalpers come in. At one point, the company’s market cap soared to $1B – though its lung imaging tech does appear to be disruptive. 

Finally, a similar story for Invictus Energy, falling -8% in the final hour down to 23 cents per share as recent heat from an injection of capital from Qatar’s royal family appears to be disspating. 

That’s Market Close for Tuesday, I’m Jon Davidson, have a great night and we’ll see you on Wednesday.