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The ASX200 closed down 0.22% for the first day of the new financial year.
The IT sector was the biggest drag, shedding more than 2.2 per cent.
The best performer today was the Materials sector which gained a per cent as iron ore recovered to US$107.50 a tonne, in the wake of China introducing mortgage relief measures to stimulate its property sector.
BHP Group (ASX:BHP), Fortescue (ASX:FMG), and Rio Tinto (ASX:RIO) all gained around that 1.5% mark.
In the Green
An outstanding performance for a small cap stock today was by Infini Resources (ASX:I88), with shares surging 120% on exceptional uranium assay readings.
The company reported that some hits exceeded laboratory detection limits with 17 samples above 1.18% uranium oxide.
The company has identified another 23 target areas at its Portland Creek project in Canada.
I88 closed the day at 34 cents.
Meanwhile, shares in Australian coal miners spiked on news fire was raging in an underground coal mine in QLD this afternoon.
Reports suggested production from the Anglo American mine could be impacted for months, giving coal players a boost.
Coronado Global Resources (ASX:CRN) jumped nearly 9% to close around $1.29. Bowen Coking Coal (ASX:BCB) was up nearly 13.5% to 5.9 cents; and Whitehaven Coal (ASX:WHC) gained more than 6% to $8.13.
Meanwhile, Africa-focused exploration company, Lindian Resources (ASX:LIN) soared 47.5% after a feasibility study suggested the first stage of its Rare Earths Project in Malawi should be low-cost.
The project’s payback period could be less than two years.
Lindian closed the day at 15 cents.
In the Red
It wasn’t so bright for Guzman Y Gomez (ASX:GYG) as shares were sold off again today seeing the value of the Mexican fast-food chain stock fall 9.5%, to a new low.
GYG closed the day below $24.83.
And as the IT sector struggled, $31B market cap company Wisetech Global (ASX:WTC) lost 5 per cent to close at $95.10 and Xero (ASX:XRO) also lost ground, down 1.25% to $134.70.
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