ASX Market Close: Index retreats from record highs | December 4, 2024

The ASX200 closed down 0.38% at 8,462 points.

Oil steadied after the biggest advance in more than two weeks as OPEC+ made progress towards a deal to delay further the restoration of shuttered supply, and the U.S. imposed more sanctions on Iranian crude.

Brent crude has been US$73.82 per barrel.

The Real Estate sector was sold off and is the worst performing sector, down 1.7%, followed by Utilities and Financials, both down 0.8%, and Telecommunication, down 0.65%.

Materials bucked the trend, up 0.6%, followed by Information Technology, up 0.45%.

In the Green

AusQuest (ASX:AQD) closed up 20% on news it will finally commence its copper-hunting drill run at its Peruvian digs imminently. Investors can expect the first assay results from the Cangallo copper project in early 2025.

AusQuest closed at 1.2 cents.

Pioneer Lithium (ASX:PLN) closed up 12.12% after yielding multiple drill targets from a field program completed at its Root Hill Lake Lithium Project in Canada.

Pioneer Lithium closed at 18.5 cents.

Micro-X (ASX:MX1) closed up 38.03% after inking a $25M deal with the U.S. Advanced Research Projects Agency for Health. The agreement will see Micro-X develop a portable full body CT scanner, enhancing its Head CT program.

Micro-X finished the session at 9.8 cents.

In the Red

Frontier Energy (ASX:FHE) has updated its definitive feasibility study for its Waroona renewable energy project. The updated plan includes a larger 4.75-hour duration battery to maximise reserve capacity benefits.

Frontier Energy closed at 13 cents.

Commonwealth Bank (ASX:CBA) closed down 0.54% after shelving plans to charge its banking customers $3 to withdraw their own money at branches or the post office. The plan was put on ice for six months after a groundswell of outrage across the country.

Commonwealth Bank closed at $156.93.

APA Group (ASX:APA) closed down 1.25% after being awarded Priority Project status by the WA Government for developing electricity transmission infrastructure. The company will collaborate with local communities and stakeholders to advance the initiative, leveraging its extensive experience in energy infrastructure.

APA Group closed at $7.13.