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Good afternoon and welcome to HotCopper’s Market Close, I’m Jonathon Davidson.
Doldrums remained the quo on Wednesday as tariff uncertainty once again shakes markets. The ASX pared some losses midday, perhaps because Trump’s congress speech didn’t mention Australia specifically when it comes to the next wave of tariffs on April 2. The local bourse finished down point 7%.
Looking at sectors, Utilities led the charge up point 1%, at parity with real estate.
All other sectors were red led by Staples down -3.56% and Energy tumbling again down -1.7% as OPEC production boosts bite.
Let’s turn to companies in the green.
Race Oncology finished up 2.8% at $1.09 per share as it inked a $9M deal to support Phase 1 trials investigating advanced tumours in Australia, Hong Kong and South Korea.
Elsewhere, Sun Silver finished up 5.3% at 60cps as it unveiled its strategy for critical mineral antimony which often coincides with silver deposits.
Finally, nanocap Botala Energy jumped 5.4% closing at 5.9cps as it was granted a licence to frack for gas in Botswana.
Looking at the reds,
NGX Limited fell 3.45% to 14cps even as it reported testwork confirmed its graphite products could be used in ‘high performance batteries.’
Elsewhere, Astral Resources fell -3.6% to 13cps as the market shrugged at testwork results outlining gold recoveries at its Mandilla project.
Finally, Veris Limited fell -3.3% to 5.4cps despite its involvement with the Western Sydney Airport Rail extension in a deal worth $5M.
That’s HotCopper’s Market Close for Wednesday, I’m Jonathon Davidson, have a great night and we’ll see you tomorrow.
