Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 has been up 0.05% at 8,208 points.
A stronger iron price has seen big miners BHP (ASX:BHP), FMG (ASX:FMG) and Rio Tinto (ASX:RIO) surge. But a deteriorating oil price has seen Energy stock such as Woodside (ASX:WDS) fall. Meanwhile, gold has been at record levels – firmly above US$2670 dollars an ounce.
Materials has been the strongest sector, up around 3%. Real Estate, Health Care and Discretionary have all fallen around 0.9%.
Company News
Star Entertainment (ASX:SGR) has been down 43% after the stock resumed trade after 4 weeks. The company posted a net loss of $1.68B and booked an impairment of $1.44B. Investors reacted by lining up for the exit, sending the stock to record lows this morning.
Star Entertainment has been trading at 25.5 cents.
De Grey Mining (ASX:DEG) shares jumped more than +3% as the company denied reports published on Thursday it was fielding a takeover offer from Canadian gold giant Agnico Eagle.
While the company denied talks are underway, HotCopper users openly mused on whether the company is stemming leaks while preparing to enter a takeover deal.
De Grey Mining has been swapping hands at $1.38.
And, microcap Aussie fintech company Douugh (ASX:DOU) has been up 83% on news it will acquire US B2B fintech platform services business Radical DBX.
Douugh and R-DBX will be re-named Stakk to reflect the strategic focus on B2B platform services.
Douugh has been trading at $0.006.
Finally, Qantas (ASX:QAN) has been down 0.8% after yesterday’s record highs. In an interview in the AFR today, former Qantas Chairman Richard Goyder admitted mistakes, but says the authoritarian leadership style of Alan Joyce was necessary during the pandemic.
Qantas has been trading at $7.42.
-1200x645-380x200.jpg)