Market Close: ASX steams uphill but still on track to recovery

The ASX200 closed .4 of a per cent up with IT and Health Care the locomotives driving a sluggish train straining to recover against the drag of Energy and Industrials.

IT and Health Care were up 1.73 and 1.22 per cent respectively whilst Energy and Industrials tipped into the red by .78 of a per cent and .29 of a per cent.

In the green

Medical treatment support company Medadvisor (ASX:MDR) gained 14% on its quarterly update.

The company reported a 42.4% increase in its operating revenue to $24.2 million.

Gross profit was also up by 48.5% during the quarter to $15.3 million.

MDR closed at 31 cents.

Fintech company Plenti Group (ASX:PLT) shot up shot up nearly 5% after posting a trading update for its March quarter.

Its loan portfolio grew by 21% on the previous year to $2.14 billion.

Revenue also jumped 41% to $59.8 million.

PLT closed at 65 cents.

And, Tamboran Resources Corp (ASX:TBN) was up 6% on a signed long-term Gas Sales Agreement (GSA) to supply the Northern Territory Government with 40 Terajoules per day from the Shenandoah South Pilot Project.

The initial term is for nine years, starting in the first half of 2026, with the option for the buyer to extend for a further six-and-a-half years through to 2042.

TBN closed at 17 cents.

In the red

Northern Star Resources (ASX:NST) was down nearly 4% per cent on its quarterly update.

The company revealed that it sold 401,000 ounces in the March quarter, while the market was expecting 424,000.

Management says the March quarter was challenging and was impacted by significant weather events across the Northern Goldfields.

NST closed at $14.68

Clinical-stage biotechnology company, PharmAust (ASX:PAA) lost as much as 17% following the resignation of its CEO, Dr. Michael Thurn, due to personal reasons.

PharmAust’s COO, John Clark, has stepped in as interim CEO.

Dr. Thurn will continue in his role for another four months until his contract concludes.

PAA closed at 24 cents.

Almond producer Select Harvests (ASX: SHV) shed almost 10% after posting its 2024 business update.

The company says its 2024 crop is expected to be in the range of 28,500 metric tons (MT) and 30,000 MT, which is below its original forecast of 30,000.

Its receivals from growers for the US 2023 crop totals 2.44 billion pounds – below the USDA’s objective estimate of 2.5 billion pounds.

SHL closed at $3.70.