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ASX Market Update: Insignia rejects Bain bid as bourse rises | December 18, 2024

ASX News, Market Summary
18 December 2024 13:47 (AEDT)
Market Update Graphic

Source: The Market Online

Christmas is one week away and the ASX200 has been up 0.25% at 8335 points.

The iron ore price has been US$103.75 and big miner Rio Tinto (ASX:RIO) has been up 1.2% at $119.93.

Real Estate has been the strongest performing sector, up 1.25%, followed by Industrials, up 0.9% and Health Care, up 0.7%.

Staples has been the worst performing sector, down 0.3%.

Company News

Lefroy Exploration (ASX:LEX) has been up 6.06% after inking a deal with BML Ventures.

The partnership aims to progress Lefroy’s Lucky Strike Gold Project, which possesses a mineral resource estimate of 1.27 million tonnes of gold.

Lefroy Exploration has been 7 cents.

Insignia (ASX:IFL) has been down 1.7% on news the financial services giant rejected Bain Capital’s $4-a-share takeover bid.

Insignia has been $3.54.

Vulcan Energy (ASX:VUL) has been up 1.9% after the company borrowed $1.4 billion to finance its €2.2 billion Phase One Lionheart Project in Germany.

Vulcan Energy has been $5.88.

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