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Good Afternoon and welcome to Market Close for Thursday 23rd of October, I’m Jon Davidson. Breaking it down by sectors energy was by far the winner today as Woodside’s LNG deal in Louisiana, coupled with fresh oil sanctions on Russia, combined to lift the cohort over 3% in the final hour of trade.
Materials was basically flat for the day, in that vein, it’s worth noting gold prices are hovering just above $4,000 USD an ounce, suggesting that’s where the market agrees it should currently sit. It may be the case central banks have stopped buying gold to replace US Treasuries ahead of an expected meeting between Trump and Xi Jinping.
Back down under, winners of the critical minerals deal earlier this week have lost a lot of heat, and as that event fades already into memory, it’s starting to feel like things are calming down a little. Indeed, the market was trading flattish green in the final hour, after opening in the red.
So what about companies in the green?
Stakk Limited popped again on Thursday after announcing it’s expecting annual recurring revenues of at least $8M by December this year, that’s compared to a low base of around $1M back in January. So far, no word on revenues from Robinhood.
SILEX Systems meanwhile jumped as a third party certified its laser-based uranium enrichment tech, meaning its upcoming enrichment plant in Kentucky USA is to some extent de-risked.
Finally, Electro Optic staged a partial comeback on Thursday with shares up over 8% in the final hour after the latest peace talk attempts with Russia and Ukraine fell through.
And as for the reds,
Australian Strategic Materials continued to hand back gains down over 10% in the final hour after this week’s highly volatile and newsflow sensitive momentum for critical miners.
Core Lithium fell close to 5% in the final hour as that stock too gave away intraweek gains.
Finally, troubled online luxury retailer Cettire fell nearly 8% in the final hour as the stock continues to struggle to win endearing favour with the market, a long way off its former valuations over $4/sh.
That’s Market Close for Thursday, I’m Jon Davidson, have a great night and we’ll see you on Friday.
