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Market Update: Energy sector up, while ASX200’s down

ASX News, Market Summary
26 March 2024 13:59 (AEDT)

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The ASX200 is trading down nearly 0.2 per cent so far today.

The Energy sector is leading intraday gains, up around 1.3 per cent.

On the other end, the IT sector has fallen the most, down almost 1.7 per cent.

Lithium Universe (ASX:LU7) has chosen the site for a port to import lithium to its planned Bécancour Lithium Refinery in Quebec.

The company plans to source spodumene from Canada, and also from Brazil, Africa or Australia, with a shipping capacity of 140,000 tonnes per year.

On release of the port study, LU7 has been trading at 2 cents.

29Metals (ASX:29M)  has dropped 25 per cent, after the company suspended operations at Capricorn Copper site in Queensland due to extensive rainfall causing rising water levels on site.

This is the third mine in Australia this month to be affected by heavy rainfall.

29M has been trading at 40.5 cents.

Technology solutions company Titomic (ASX:TTT) has surged as much as 30  per cent, after the company secured its largest-ever order of its D523 cold spray systems from the Royal Netherlands Army.

The order includes 10 units for $1.28 million, with 9 units to be sent to Ukraine, to be used to repair battle-damaged defence equipment in the field.

TTT has been trading above  6cents.

Firefly Metals (ASX:FFM) has secured a 50-year Port Access Agreement with Maritime Resources Corp (TSXV:MAE), allowing Firefly to export up to one million tonnes a year from its Green Bay Copper-Gold Project.

The agreement grants Firefly unrestricted access for transport and export through the Pine Cove deep-water port.

As part of the deal, Firefly will invest A$2.8 million in Maritime Resources by acquiring 50 million shares at C$0.05.

FFM has been trading at 68 cents.

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