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The ASX200 added 0.3 per cent today –  thanks largely to the energy sector which was up 1 per cent and materials which added about 0.60 per cent.

In the Green

The big news today was the confirmation of talks between Woodside (ASX:WDS) and Santos (ASX:STO) over a possible merger which would see the creation of an $80 billion mega-cap.

Santos gained more than six per cent to $7.25 on the news becoming public, while Woodside, on the other hand, was down about half a per cent, to close at $29.81.

Financial services provider Pioneer Credit (ASX:PNC) was up four per cent after acquiring a debt portfolio from UK’s Panthera Finance for $24.1 million.

It contains 32,775 customer credit card and personal loan accounts. $17 million of the deal will be funded by Nomura Australia

PNC closed trade at 39 cents.

And Genex Energy (ASX:GNX) lifted nearly three per cent thanks to forging a long-term power purchase agreement with Stanwell Corporation for the 258MW Kidston Stage 3 Wind Project (K3W).

Stanwell will buy 50 per cent of K3W’s wind energy output and large-scale generation certificates at a fixed price over 15 years.

The agreement with Stanwell positions the co-developers of K3W – Genex and J-Power –  to begin the debt financing process.

GNX closed trade at 17.5 cents.

In the red

Not doing so well today was Skycity Entertainment Group (ASX:SKC), which was down nearly 3.5 per cent after an unwelcome trading update.

The company’s management downgraded normalised EBITDA expectations to between A$270 million and A$288.5 million in FY2024. It cites factors including reduced electronic gaming revenue from its New Zealand operations and weaker performance from Skycity Adelaide.

SKC closed trade at $1.66.

Elevate Uranium (ASX:EL8) lost 16.5 per cent on news it’s raised $10 million via an Institutional Placement. 

The placement was priced at 42 cents a share – an 8.4 per cent discount to Elevate’s last closing price of 51.5 cents per share on Tuesday (December 5).

The funds will help Elevate advance its Namibian and Australian uranium portfolio. 

EL8 closed just above the raise price, at 43 cents.

And inflammatory medicine developer Mesoblast (ASX:MSB) was down about 9.5 per cent on its capital raising.

Its $42 million retail entitlement offer opened today. Mesoblast has already raised $91 million through an institutional placement with shares priced at 30 cents.

And MSB closed trade below the raised price at 28.5 cents.  

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