Join our daily newsletter At The Bell to receive exclusive market insights
The ASX closed 0.6 per cent lower on news Australia is likely to be hit with a mid-year slowdown.
Investment bank UBS released data from a survey conducted over the second half of May. The figures showed a decline in the financial outlook from Australian consumers, as a larger portion of spending goes towards essentials like rent and utilities.
The sectors saw eight of eleven close lower, dragged by the energy sector – down 1.3 per cent. Consumer staples and health care edged higher.
In the green
Boosting the healthcare sector was Imagion Biosystems (IBX). The company’s shares rose 16.6 per cent after reaching its enrolment targets for phase one trials of its cancer-detecting agent.
Exploration company Australia United Mining (AYM) announced its first bars of gold have been poured from its Ropewalk gold mine in North Queensland, producing a total of 200 ounces of gold.
And Bubs Australia (BUB) gained a 31 per cent uptick after reporting an increase in momentum to its sales channels in the United States. The company closed the day at 18 cents.
In the red
Communication company TPG Telecom (TPG) fell after the Australian Competition Tribunal knocked back the company’s regional network sharing agreement with Telstra.
Miramar Resources (M2R) slipped 24 per cent after receiving strong commitments to raise $1.5 million via a placement. The funds will be used to accelerate exploration programs at two projects in WA.
And copper exploration company Noronex (NRX) skidded after confirming a $1.76 million capital raising exercise.
