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The ASX200 closed the day still in record territory – gaining nearly a per cent with every sector finishing in the green ahead of the Easter weekend.
Materials had a particularly strong run and closed up just under 2 per cent – followed by real estate and utilities – with the ASX200 signing off on 7896,9 and still above the previous record set on March 8.
Heading into the long weekend, we’ve shone the spotlight on AIC Mines, Argenica Therapeutics, Fisher & Paykel Health Corporation, Clarity Pharmaceuticals and Ava Risk Group.
In the green
Materials was today’s top performing sector and welcomed the weekend 1.8% up. Fortescue Metal Group (ASX: FMG) topped tbe list gaining over 2% followed by BHP (ASX:BHP) which grew 1.35% and Rio Tinto (ASX: RIO) 0.69%.
AIC Mines (ASX: A1M) was up nearly 6% per cent after raising expectations for its Jericho copper deposit in northern Queensland.
The company posted an update to its ore reserve estimate, showing an 86 percent increase in contained copper and a further 86 percent in contained gold.
The new ore reserve now sits at 3.2 million tonnes at grades of 1.9 percent copper and 0.4 grams per tonne of gold.
A1M closed at 35c.
Argenica Therapeutics (ASX:AGN) shares were up nearly 14 percent, as the company initiated dosing for the first stroke patient in its Phase 2 clinical trial of ARG007.
The Phase 2 trial, named SEANCON, aims to assess the drugs” safety in stroke patients, a crucial step leading up to potential Phase 3 trials and to foster collaborations with global pharmaceutical firms.
AGN closed at 67c.
In the red
Fisher & Paykel Health Corporation (ASX:FPH) shed just under 3 per cent after recalling some of its batches from the market – the Airvo 1 and Airvo 2 devices manufactured before August 14, 2017 – which are used for sleep apnoea..
The recall concerns an issue with the speaker configuration, which may result in distorted, intermittent, or inaudible alarm sound levels.
Fisher & Paykel is coordinating with various international regulatory authorities to take appropriate action in each country.
FYP closed at $23.6.
Clarity Pharmaceuticals (ASX:CU6) was down more than 3% after revealing plans to raise $101 million though a placement.
Clarity will also launch a fully underwritten retail entitlement offer to raise another $11 million priced at $2.55.
Funds will go towards advancing the company’s clinical portfolio and strengthen its balance sheet.
CU6 closed at $2.75.
Ava Risk (ASX:AVA) was also down more than 15% on raising $3 million though an institutional placement priced at 13 cents a share.
This represents an 18.8 per cent discount to Ava’s last closing price on Tuesday, March 26.
The company also intends to launch a share purchase plan for existing shareholders to raise another $1 million.
Funds raised will support the execution of recently won contracts, including working capital and other needed requirements.
AVA closed at 14c.
