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After shedding nearly double what futures had predicted, the ASX200 closed the day 1.8 per cent down. At one stage the ASX was on track for its worst day in 13 months and at the close, real estate, consumer stocks and mining were all licking their wounds.
All sectors finished in a sea of red with the big four banks, ANZ, CBA, NAB and Westpac, all losing around 2 percent.
Both Coles Group Limited. (ASX:COL) Share Price | Latest News – The Market Online and Woolworths Group Limited (ASX:WOW) Share Price | Latest News – The Market Online finished the day down around 1 and a half per cent amidst heated hearings involving the two supermarkets giants in Canberra.
In the green
Electrical, communication and other services provider Southern Cross Electrical Engineering Ltd (ASX:SXE) Share Price | Latest News – The Market Online was up nearly 6 per cent after securing contract extensions at two data centres in New South Wales as well as a range of building projects in the ACT for a total of $50 million.
SXE closed at $1.20.
Spartan Resources Limited (ASX:SPR) Share Price | Latest News – The Market Online gained nearly 10 per cent after it announced a new high-grade gold lode at its Dalgaranga gold project in the Murchison region of Western Australia.
The new lode, named the Pepper Gold Prospect, intercepted 17.52 metres at 15.86 grams per tonne of gold, and 9.22 metres at 27.89 grams per tonne of gold.
Further drilling to define this new target is now underway.
SPR closed at 62c.
And Wia Gold Limited (ASX:WIA) Share Price | Latest News – The Market Online also shot up around a per cent after revising its Mineral Resource Estimate (MRE) for its Kokoseb deposit at the Damaran gold project in Namibia.
The new estimate now stands at 66 million tonnes (Mt) at 1.0 gramme per tonne of gold for 2.12 million ounces.
The company says this will help its future plans to develop a low-cost open-pit gold mine at Kokoseb.
WIA closed at 8c.
In the red
In parliament the CEO of Woolworths and Coles fronted a Senate inquiry into alleged supermarket price gouging. Tempers flared as Greens Senator Nick McKim and Woolworths Group CEO Brad Banducci clashed with the latter accused of being evasive and threatened with jail time if he continued to avoid answering questions.
WOW closed at $31.88, whilst COL closed at $16.08.
Telix Pharmaceuticals Limited (ASX:TLX) Share Price | Latest News – The Market Online shed nearly 3 per cent despite revealing it’s received a Fast Track designation from The US Food and Drug Administration (FDA) for its brain cancer imaging software TLX101-CDx.
This designation is used for characterising progressive or recurrent glioma, a form of brain cancer.
Telix has partnered with PharmaLogic Holdings Corp (PharmaLogic) for manufacturing and distribution in the U.S. market.
The company closed trading at $12.73.
And cancer immunotherapy company Imugene Limited (ASX:IMU) Share Price | Latest News – The Market Online lost nearly 10 per cent on news US-basedKincell Bio will acquire Imugene’s North Carolina manufacturing facility in the US for up to US$6 million.
As a result of the transfer, Imugene will recognise US$32 million in staff cost reductions, manufacturing efficiencies and overhead savings over the next three years.
Imugene will reduce its staff by 50 per cent.
IMU closed at 8c.
