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The ASX200’s been trading down a quarter of a per cent – even further than expected.
The utilities and financials sectors are in the lead – up around 0.4 of a per cent, while IT is lagging – down more than 2 per cent.
Australia’s Gross Domestic Product (GDP) growth missed ANZ forecasts of 0.3 per cent and clocked instead at 0.2 per cent for the December quarter.
Private business investment was up 0.7 per cent – the ABS points to non-dwelling construction.
Household spending was subdued, rising only by 0.1 per cent. However, the household savings ratio increased to 3.2 per cent.
Coming up…, we’ll discuss Race Oncology, Raiden Resources, and Constellation Resources.
In company news:
Cancer-focused Race Oncology (ASX:RAC) is up more than 10 per cent after presenting a potential treatment for Acute Myeloid Leukemia (AML).
Bisantrene, – both as a standalone treatment and in combination with decitabine – seemed to be effective at killing cancer cells in both laboratory settings and animal models.
Race Oncology plans to submit this data for publication in a peer-reviewed journal later in the year.
RAC has been trading at 89 cents.
Raiden Resources (ASX:RDN) is set to oversee a heritage survey on-site its Andover South lithium acreage in Western Australia as part of pre-drilling obligations.
Kicking off later this month, the scan is about progressing Andover South, in the midst of intense headwinds facing the lithium space.
RDN has been trading at 2.6 cents.
And nano-cap explorer Constellation Resources (ASX:CR1) has gained nearly 30 per cent – after announcing it is on track to start drilling for helium in Western Australia.
The company filed six types of permit application to drill for helium in both the Edmond-Collier and Yerrida Basin area.
Helium is used in the manufacture of microchips – and is also a necessary requirement for MRI machines.
CR1 has been trading at 8.8 cents.
That’s news for now. We’ll have a wrap of the day’s biggest stories after MC.
