TMH Market Close: ASX200 closes lower, tech sector tumbles 3.9pc

The ASX200 closed lower, with every sector recording a loss. Tech was the biggest drag on the market, down 3.89 per cent. Miners also took a hit.

In the green

Fleet management solutions provider Eroad (ERD) shot up 60 per cent. The raise comes after receiving a non-binding takeover offer from Volaris, a subsidiary of Constellation Software. The company is looking to acquire Eroad shares at $1.30 apiece.  

Siren Gold (SNG) has also made it up the ranks with gains of 12.4 per cent. The company’s ionic leach trial detected mineralisation 500 metres below surface at its Sams Creek project in New Zealand.

The company’s survey will now be extended to identify additional mineralisation to be targeted by drilling.

And Alto Metals (AME) climbed 25 per cent. The company was last trading at 6.5 cents.

In the red

Future Battery Minerals (FBM) dipped, despite striking further high-grade assays from its Kangaroo Hills lithium project in WA.

The shallow thick high-grade mineralisation remains open north and north west, with further drilling planned to test extensions to the mineralisation.

My Foodie Box (MBX) shed 50 per cent despite no further announcements since the start of June.

And emerging miner Elmore (ELE) has agreed to terms for around $45 million in new funding to ramp up operations of its flagship Peko iron ore mine in the northern territory. The company closed at 0.8 cents.