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Market Close: ASX slips over the finest of lines turning red into green

ASX News, Market Summary
13 May 2024 16:51 (AEDT)

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The ASX200 closed fractionally up by 0.01 of a per cent.

Energy had a rough run – slipping around a per cent – while consumer discretionary and healthcare climbed around half a per cent.

In the green

West Australian gold producer Ramelius Resources (ASX:RMS) was up more than 2% on seeing its mineral resource for the Eridanus project near Mt Magnet jump 64%.

It now holds 1.2 million ounces of gold – as drilling and other mining activities have enabled the Lone Pine and Theakston deposits to be brought under its umbrella.

RMS closed at $2.04.

Optiscan Imaging (ASX:OIL) shot up nearly 23% on news it’s set to partner with Mayo Clinic to develop a digital confocal laser endomicroscopic imaging system specifically designed for use in robotic surgeries.

Over the next 24 months, both companies will work closely to co-develop a robot-compatible endomicroscopic imaging system, initially focusing on its application in robotic-assisted breast cancer surgery.

OIL closed at 12 cents.

Todays ASX Debutant, D3E Energy (ASX:D3E), a natural gas and helium explorer closed up nearly 25% on it first day of trading.

The company raised $10 million for its launch at 20 cent shares.

It intends to initially focus on exploration and potential development work at its flagship project in South Africa.

D3E closed at 25 cents.

In the red

Energy suffered the most today… the sector shed around a per cent – as oil prices dropped on lowered US rate cut hopes. Energy giants dragged down as a result. Woodside Energy (ASX:WDS) and Santos (ASX:STO) both lost around 1.2 per cent.

Southern Cross Media Group (ASX:SXL) was down around 9% during morning trades. ARN Media (ASX:A1N) also saw a dip of nearly 3%. This comes off the back of a proposed merger deal between the two companies.

ARN Media consortium partner Anchorage Capital Partners Pty Ltd (ACP) pulled out of the deal, unconvinced that Southern’s regional TV assets would be beneficial.

SXL closed at 86 cents.

Lendlease Group (ASX:LLC) shed nearly 4% on news the company’s been hit with a statement of audit by the the Australian Taxation Office and an amended income tax assessment relating to the partial sale of the retirement living business.

The latter is in reference to the 2018 financial year, and the bill is worth $112 million.

LLC closed at $6.07.

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