The weekend begins after a day of record breaking on the ASX. The ASX200 closed well over a per cent up at 7847 points, after peaking at 7453 points earlier in the session.
The All Ordinaries – Australia’s index of the largest 500 companies – also forged new ground, climbing through the day to a new high of 8112, before closing just 5 points below that.
Looking at the sectors: Financials gained the most – up 2 per cent, while Healthcare and Consumer Staples both gained more than 1.2 per cent.
Financials was boosted by the performance of Virgin Money Uk Plc (ASX:VUK) which gained well over 30 per cent after Britain’s largest building society offered $5.7 billion to privatise the company. The offer was a 38 per cent premium to the market price on Wednesday. The bank, Virgin Money, came about through the merger of Virgin and Clydesdale & Yorkshire Banking Group in 2018.
Meanwhile, the Industrials sector was the only one to fall into the red, but only by the tiniest of margins, 0.02 per cent.
In the Green
Anti-infective developer Recce Pharmaceuticals (ASX:RCE) closed up 4.5 per cent after it received an A$11.17 million Research & Development advance from Endpoints Capital.
Along with the recent Advanced Overseas funding from the Australian Government of A$54.9 million, the company’s activities are covered until mid-next year.
The company is developing intravenous and topical anti-infective R327 to treat UTI infections, sepsis and burns.
RCE closed the day at 46 cents.
Industrial services company SRG Global (ASX:SRG) has closed the day more than half a per cent in front after securing a $35 million contract to improve the Port Kembla wharf in New South Wales.
The contract, with subsidiary BlueScope Steel (ASX:BSL), will focus on marine remediation services vital for international trade for bulk agricultural, construction and mining industries.
Works are already underway and are set for completion in 2026.
SRG closed the day at 77 cents.
And global multi-boutique asset manager, Pacific Current Group (ASX:PAC) gained more than 3.5 per cent after its subsidiary Northern Lights Midco sold down its Chess depository interests in GQG Partners (ASX:GQG).
PAC held 119.12 million, of GQG’s market cap and nearly 20% of its float.
PAC received A$257.3 million in cash proceeds, which will be used to reduce debt, return capital, and fund dividends and new investments.
Settlement will occur next week.
PAC closed the day at $9.65.
GQG however lost nearly 1.8 per cent on the news to close at $2.20.
In the Red
Juno Minerals (ASX: JNO) shed 15.5 per cent on completing its Mount Ida Lithium Prospect Phase 2 exploration drilling program.
30 Reverse Circulation holes were drilled, with a focus on subsurface lithium, caesium and tantalum. More than 1600 samples were analysed by a lab, but no significant results were recorded, with only low levels of lithium, tantalum and tin reported.
JNO closed the day at 6 cents.
Online retailer Cettire (ASX:CTT) has continued to decline, down another 2.74 per cent, after a media investigation earlier this week alleged the company hadn’t paid taxes.
Cettire has denied all allegations, but its shares have lost 18.5 per cent for the week.
CTT closed at $3.90.
And jewellery retailer Michael Hill International (ASX/NZX: MHJ) fell 1.4 per cent after non-executive director Jacquie Naylor resigned from the Board, effective next month.
Ms Naylor had served with Michael Hill since 2020 whilst also on other boards, including for Myer Holdings (ASX:MYR).
Michael Hill is seeking a replacement.
MHJ closed the day at 68.5 cents.