Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 has been performing in line with predictions by holding fairly steady – up just over 0.15 per cent.
The sectors are pretty evenly split, with IT, telecommunications, and healthcare leading the pack. The energy sector has dropped the most, down about a per cent.
In this mid-session update, we’ll discuss Boral, Syrah Resources, Novonix and Mandrake Resources.
Construction materials company Boral (ASX:BLD) has been trading up nearly 10 per cent after reporting a 9.4 per cent increase in revenue and a first-half EBIT margin of 10.9 per cent. The company has adjusted its full-year guidance, targeting the higher end of the early predictions.
BLD shares have been trading at $5.90.
Syrah Resources (ASX:SYR) is up 3.7 per cent after beginning production of graphite Active Anode Material from its Louisiana facility. The plant is processing natural graphite from its mining operations in Mozambique.
Syrah claims the facility will be the first vertically integrated natural graphite Active Anode Material supplier outside of China.
SYR has been trading at 56 cents.
Another battery materials company Novonix (ASX:NVX) shares have jumped more than 16 per cent on news the company has partnered with Panasonic Energy to supply battery anode materials for its North American EV operations.
The agreement is for 10,000 tonnes of synthetic graphite anode material from Novonix’s Riverside facility in Tennessee.
Production is set to begin later this year.
NVX has been trading at 71.5 cents.
And Mandrake Resources (ASX:MAN) has gained nearly five per cent after securing a permit from the Bureau of Land Management (BLM) to start lithium-rich brine sampling at its Utah project.
The company claims it’ll be a cost-effective operation utilising existing oil and gas wellbores instead of drilling new wells.
MAN has been trading at 4.3 cents.
