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TMH Market Close: WA1 Resources (ASX:WA1) continues to skyrocket, while Fisher and Paykel (ASX:FPH) falls

ASX News, Day Trading, Market Summary
26 May 2023 17:09 (AEDT)

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For the final day of the trading week, the ASX finished higher, after making steady gains north.

The ASX 200 closed up 0.23 per cent at 7.154.8 points

Earlier today the ABS revealed retail spending has plateaued since the start of the year, sparking hopes for an end to interest rate hikes.

In the green

Copper gold exploration company WA1 Resources (WA1) rose 17.2 per cent, to close the day at $4.70.

Despite not releasing an update, the company’s share price has been skyrocketing over the past few months, sparked by ongoing exploration at its high-grade West Arunta niobium project on the WA and NT border.

Employment services company, APM Human Services International (APM) jumped nearly 10 per cent, after the company won a $720 million contract in the UK.

APM will provide Functional Assessment Services across the UK on behalf of the Department of Work and Pensions.

For the small caps, exploration company, Blaze Minerals (BLZ) share price exploded 90 per cent today, after revealing the fresh acquisition of a lithium project in Canada.

Blaze will soon be the proud owner of the North Spirit Lake project, which covers 340 square kilometres in the Electric Avenue of Ontario’s Red Lake region.

In the red

Appliance manufacturer Fisher and Paykel (FPH) dipped 6.3 per cent after revealing its revenue dropped six per cent over the 2023 financial year.

The preliminary report also outlined a 34 per cent decline in net profit after tax to $250 million dollars.

Building and construction company CSR (CSR) also closed the day in the red dropping 5 per cent.

The company today released the notice for its annual meeting next week.

And financial services company Block (SQ2) took a tumble of nearly 5 per cent just days after the Federal Government’s crack down on buy now, pay later regulations.

The company closed at $90.40.

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