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The ASX200 halted its downward trend today, trading marginally up for the first time this week at 7,757 points.
However, sector performance remains sluggish, with energy being the only sector in positive territory, up 0.7%. Utilities has suffered the most so far today, dropping 1.1%.
Sigma Healthcare (ASX: SIG) shares are down 5.8% due to ACCC concerns over its proposed acquisition of Chemist Warehouse Group Holdings.
The ACCC worries this deal could harm competition in pharmacy retailing by affecting pharmacies currently supplied by Sigma.
Chemist Warehouse, a franchisor of pharmacies and retail stores, selected Sigma Healthcare for a reverse listing due to its extensive distribution infrastructure across Australia.
However, the ACCC sees the deal potentially causing significant structural changes in Australia’s commercial pharmacy landscape.
SIG has been trading 6% down at $1.12.
Alara Resources (ASX: AUQ) provided an update on its joint venture project in Oman, called Al Wash-hi – Majaza, focused on copper-concentrate production. Alara holds a 51% stake in the joint venture entity, Al Hadeetha Resources LLC (AHRL).
In May, the first shipment of copper concentrate, totalling around 156 metric tonnes (MT) of copper and 6 kg of gold, was dispatched.
The second consignment of copper concentrate is scheduled to arrive at the port by June 22.
AUQ has been trading at 6.3 cents.
Infinity Lithium (ASX: INF) has announced that the permitting process for the San Jose lithium project is almost complete, with the submission of documents for the crucial stage 2 keystone permit.
To operate in the area, Infinity needs to obtain an Exploitation Concession Application (ECA) permit.
INF’s latest share price was 5.1 cents.
And, Infini Resources’ (ASX: I88) geotechnical team has uncovered two potential sizable uranium targets underground at its Des Herbiers project in Quebec.
The project, wholly owned by Infini, already hosts a resource of 162 metric tonnes of ore, containing 43.9 million pounds of uranium, without any previous drilling.
I88 was fetching 16 cents.
