ASX Market Close: IT stocks drag index lower | January 15, 2025

The ASX200 closed down 0.22% at 8,213 points.

The local bourse gave up early gains and slipped into the red in afternoon trade, and did not return to positive territory.

The Discretionary sector was the best performer, up 0.2%, followed by Real Estate, 0.13%. IT was the biggest loser, down 1.25%, followed by Telecommunication, down 1.2% and Industrials, down 0.65%.

In the Green

Gold Mountain (ASX:GMN) closed up 50% after announcing drill targets for its Salinas II Project in Brazil.

Gold Mountain finished at $0.003.

D3 Energy (ASX:D3E) finished the session up 23.1% on results from initial production testing from its major borehole in South Africa’s Free State Province. The test reported an average gas flow rate of 102,000 standard cubic feet per day over the first seven days.

D3 Energy closed at 8 cents.

Arafura Rare Earths (ASX:ARU) closed up 17.4% after further government support for its Nolans project with the signing of a binding term sheet for $200M with the NRFC. The company says the receipt of the convertible notes is a “key milestone” in its strategy of securing government seeded funds.

Arafura Rare Earths closed at 13.5 cents.

In the Red

Neuren Pharmaceuticals (ASX:NEU) closed down 8.2% on the news its partner Acadia Pharmaceuticals has submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for trofinetide. The drug treats Rett syndrome in adults and paediatric patients two years of age and older.

Neuren Pharmaceuticals $11.01.

Australia’s largest telco, Telstra (ASX:TLS), will splash $700 million on rolling out artificial intelligence (AI) capabilities across the company through a new joint venture with consultancy giant Accenture.

Telstra closed down 1.2% at $4.02.

Horizon Minerals (ASX:HRZ) has achieved its first gold pour from its Boorara project. The project’s ore is being processed through Norton Goldfields’ Paddington Mill at Kalgoorlie.

Horizon Minerals closed at 4.7 cents.