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The ASX200 closed down 0.27% at 8036 points, as the Australian market pulled back from yesterday’s record high.
Information Technology stocks were down 3.39% as investors realised profits after significant recent gains. The sectors losses were highly influenced by the US Nasdaq index having its sharpest losses in two years.
The Real Estate sector was sold off and finished down 0.43%, as the local market questions the sustainability of rate cut hopes.
In the Green
Zip Co (ASX:ZIP) is up 9.7% after completing a $217 million capital raising to institutional investors at a $1.56 per share. Proceeds will fund early repayment of Zip’s existing corporate debt facility.
Zip is closed at $1.76.
Invictus Energy (ASX:IVZ) is up 4.23% after announcing the 3 year renewal of its gas discovery field in Zimbabwe. The field is one of the last untested large frontier rift basins in onshore Africa and is a high impact exploration programme, which continues to develop and mature.
Invictus (ASX:IVZ) closed at 7.4 cents.
Noronex (ASX:NRX) is up 20%, as the market responds favourably to a collaboration with South 32. South32 has commited to spend $3 million a year for five years on exploration at Noronex’s Humpback-Damara Copper Project in Namibia. South32 can earn a 60% interest by spending $15 million over five years. The Strategic Alliance is targeting a new generation of base metal projects.
Noronex closed at 1.5 cents
In the Red
Dominos Pizza (ASX:DMP) is down 8.3% as the market did not like the taste of store closures in Japan and France. This shortly followed the company’s withdrawal from Denmark.
Dominos Pizza is trading at $33.09.
Telix Pharmaceuticals (ASX:TLX) was down 2% as the market was underwhelmed by a Guidance Upgrade released today. An 8% increase in quarter over quarter revenue was not enough to enthuse investors, despite upgrading revenue guidance for FY24.
Telix Pharmaceuticals closed at $19.59.
Investors dumped IT stocks today and fintech play Novatti (ASX:NOV) was not immune down 20.6%. The company has applied for a restricted banking licence, and investors pushed the stock to a 6 month high last Friday, before abandoning it today.
Novatti closed at 5.4 cents.
