The ASX200 closed up half a per cent today, IT was the dominant sector, adding more than two per cent, with consumer staples stocks also strong, adding 1.5 per cent.
The IT sector tends to be sensitive to interest rate movements, but this comes ahead of US inflation data which is due out overnight tonight and the US Federal Reserve interest rates decision coming later in the week. So, it suggests a sentiment of confidence around what that might look like.
In the green
Among the high performers in IT was Xero (ASX:XRO) – which was up nearly 3.8 per cent to $108.33 and WiseTech Global (ASX:WTC) which added nearly three per cent to $70.
Metals Manufacturer Titomic (ASX:TTT) was up nearly 25 per cent on news of a manufacturing partnership agreement with Stärke Advanced Manufacturing Group in South Australia.
Titomic has advanced manufacturing tech, and Stärke has industry connections and expertise in tooling and moulding. The partnership will collaborate to provide innovative solutions to clients in high-performance sectors such as defence, aerospace, and automotive.
TTT closed trade at 4.1 cents.
And medical devices maker Compumedics (ASX:CMP) closed 12.5 per cent higher on news it’s received two orders from universities in China.
The combined value of the two new orders for the company’s brain research technology is more than A$9.3 million.
Compumedics ended the day at 27 cents.
In the red
Noble Helium (ASX:NHE) was down nearly 15 per cent on announcing it’s raised $14 million through a placement for appraisal and testing at the Mbelele-2 well at its North Rukwa helium project in Tanzania.
Placement shares were offered at more than 20 per cent discount at 13 cents. Noble Helium dropped to 14.5 cents during today’s session.
Mineral explorer S2 Resources (ASX:S2R) was down more than 12 per cent after raising $7 million through an institutional and sophisticated investors’ placement to fund exploration and drilling at the greater Fosterville gold project and other Australian base metals projects.
Shares were priced at 17 cents, more than a 12 per cent discount to the 5-day volume weighted average price (VWAP), and so the share price today came down towards that price, closing at 18 cents.
And Midas Minerals (ASX:MM1) shed 4.3 per cent after announcing it had discovered a pegmatite with up to 7.25 per cent lithium oxide at its Reid-Aylmer lithium project in Canada.
While samples were collected, drilling is yet to be done and while the share price spiked briefly it closed in the red at 11 cents.