The ASX200 closed up 0.56% at 8164 points.
In a tumultuous day on the market, Chris Ellison’s Mineral Resources shed 9.63% after it was dramatically revealed he will exit the business. The board ultimately lost confidence in him and says he did not act with integrity. Chairman James McClements will also leave the miner in an attempt to salvage its reputation.
IT and Utilities were the strongest sectors, both up 1.7%, followed closely by Telecommunication, up 1.65%.
Energy was the biggest loser, down 0.7% and Materials, down just under half a percent.
In the Green
Future Battery Minerals (ASX:FBM) closed flat after selling its 80% interest in the Nevada Lithium Project to Austroid Corporation for $4 million in cash. The sale is intended to enhance the company’s focus on its flagship projects in the Western Australian Goldfields.
Future Battery Metals closed at 1.9 cents.
Telix Pharmaceuticals (ASX:TLX) closed up 3.5% after the US Centers for Medicare & Medicaid Services approved separate payments for Medicare Fee for Service patients.
Telix Pharmaceuticals closed at $22.20.
Company 3
Adisyn (ASX:AI1) closed flat after entering a binding agreement to acquire 100% of semiconductor business 2D Generation. The acquisition aims to leverage 2D Generation’s innovative technology in markets such as defence, data centres, and cybersecurity.
Adisyn finished the session at 6.5 cents.
In the Red
BHP (ASX:BHP) closed down 0.42% as the ripples of the MinRes scandal continue to impact the entire mining sector.
BHP closed at $42.60.
Hexagon Energy Materials (ASX:HXG) closed down 12% after inking a non-binding early-stage indicative gas supply agreement with Chevron for its WA-based clean ammonia project.
Hexagon Energy Materials closed at 2.2 cents.
Pilbara Minerals (ASX:PLS) closed down 2.08% after broker UBS noted the company has strong production of 220 kilotonnes in the September quarter – around 10% ahead of expectations. The broker also noted costs are tracking well, but the lithium price remains weak.
Plibara Minerals closed at $2.95.