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The ASX200 pared early losses to close flat today at 8071 points. A steep index-wide sell off eased on relief as Consumer Price Index (CPI) data came in at 3.5%.
By the end of the session, the Consumer Staples sector had gained 1.4%, while Energy – on the other hand – had shed the same.
In the Green
To the winners first, Lynas Rare Earths (ASX:LYC) was up 3.4% despite results showing net profit down more than 70%. However, the company’s major works program in Malaysia saw the cost of sales reduced by 17%.
Lynas Rare Earths closed at $7.02.
Gold miner in Africa, Perseus Mining (ASX:PRU), gained about 6% on higher FY24 revenue at above US$1 billion; profit after tax of US$365 million; and, a final 3.75-cent dividend.
Perseus Mining closed at $2.69.
And iron ore play, Macro Metals (ASX:M4M) finished Wednesday up 12.5% on finding high grade hematite outcrops at its Goldsworthy East project, 100 kilometres inland from Port Hedland.
Macro also reported an objection to its exploration licence lodged by BHP (ASX:BHP) had been withdrawn.
Macro Metals closed at 2.7 cents.
In the Red
Meanwhile, Energy Resources of Australia (ASX:ERA) fell nearly 55% as it announced it’ll raise hundreds of million of dollars to meet rehabilitation requirements at its Ranger Mine site in the Northern Territory.
Rio Tinto (ASX:RIO) has indicated it will support the raise to the tune of $760 million with shares priced at point-2 of a cent.
ERA shares closed at point-7 of a cent.
As energy stocks suffered today, another uranium company Paladin Energy (ASX:PDN) also dropped, down nearly 6% with no news to tell… closing at $10.13.
And Star Entertainment Group (ASX:SGR) shed more than 5% ahead of the staged opening of its $3.6 billion Queens Wharf Brisbane resort and casino from tomorrow.
Star Entertainment Group closed at 46 cents.
Earnings season on the ASX is coming to a close, but tonight world markets will be impacted by the release of chip giant NVIDIA’s financial results.
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