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Good Afternoon and welcome to HotCopper’s Market Close for Tuesday 19th of August, I’m Jon Davidson. All good things come to an end, and that’s been true on Tuesday for the bull run we’ve been enjoying lately – though, healthcare giant CSL’s less than fantastic results helped mint a red Tuesday.
Looking at sectors, IT scraped through as the top gainer up three quarters of a percent for most of intraday trades, as mentioned, healthcare led the laggards. Still, in the last hour of trades at least, the ASX200 is up 1.5% in the last month alone – note that value may change with settlement on Tuesday.
Turning to companies in the green,
Job ads platformer Seek Limited beat market estimates with its yearly result, leading to the stock climbing nearly 8% intraday. That comes even as job ads have decreased in volume, meaning that someone, somewhere, is paying higher prices.
Elsewhere outdoor advertising heavyweight Ooh! Media bounced back to the tune of over 4.5% intraday as traders bought back into a stock that saw some haemorrhaging in recent history; one week returns were down nearly -7% in the final hour.
Finishing off the greens, another day, another dramatic microcap move, Magnetite Mines climbed over 100% intraday as the company hit REEs on-site its Ironback project. Just ignore the fact they’re hosted in clay and that data was based on historics. Still, with Kaili Resources fresh in the market’s memory, anything can happen.
Turning to the reds,
HMC Capital was in the red intraday after it told investors to prepare for less revenue growth in FY26 than what we’ve just seen as its private equity fortunes are set to slow; not helping matters is that data centres aren’t really looking so hot anymore; HMC is ultimately backing the underperforming DIgico REIT of recent fame.
Elsewhere, Strike Energy was firmly red intraday after the midcap WA-based gas producer revealed that its gas reserves have been heavily downgraded. The gas producer will now need to buy gas on the spot market to fulfill existing contracts it’s legally obliged to fill, which isn’t really what you want to hear.
Finally, blood plasma giant CSL was the villain of the day as that $109 billion dollar market cap company massively disappointed investors on Tuesday, helping bring down the entire bourse with it.
That’ s Market Close for Tuesday, I’m Jon Davidson, have a great evening and we’ll see you tomorrow.
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