TMH Market Close: ASX200 closes lower, dragged by miners

The ASX 200 closed the day trading lower, while Asian markets, the Nikkei and Hang Seng also sank.

All but one sector ended Thursday in the red. Miners were the biggest drag on the market, shedding nearly two and a half per cent. Consumer stocks lost nearly two per cent, while tech was the only sector to edge higher.  

In the green

Cancer diagnostics company Pacific Edge (PEB) saw its shares nearly double after a US Medicare provider reported it would delay implementing a decision to no longer cover the company’s flagship Cxbladder test.

The original ruling would have seen the company’s US Medicare coverage end in less than two weeks, resulting in a major blow to the company’s revenue.

Alma Metals (ALM) gained 30 per cent after updating its mineral resource estimate for the Briggs copper project in central Queensland, now exceeding one million tonnes of contained copper.

And Critical Resources (CRR) was on the rise after striking more than 74 metres of spodumene-bearing pegmatite at its Mavis Lake lithium project in Ontario.

In the red

MTM Critical Metals (MTM) dipped on the launch of a soil sampling program at its Pt Kidman prospect within its East Laverton rare earth element project in WA.

Basin Energy (BSN) lost ground, despite adding two additional claims to its Geikie uranium project in Canada.

And Manhattan Corporation (MHC) shed more than 35 per cent. The fall came despite reporting high-grade spodumene samples of up to 2.24 per cent lithium oxide from its Chebogue lithium project in Nova Scotia.