Last Orders: ASX 200 touches record highs as Energy soars again

The ASX 200 briefly touched the 7,300 level today, its highest ever, before retreating to close the week at 7,295.

The index rose by 0.49 per cent today, for its third consecutive day of gains.

Utilities was the best performing sector today rising by 1.4 per cent, but the accolade goes to Energy, which gained 8.5 per cent for the week on the back of strong oil prices.

Miners weighed on the market today though the biggest under-performer for the week was once again Tech with a loss of around 1 per cent.

ANNOUNCEMENTS YOU MAY HAVE MISSED

Industrial product distribution group Stealth Global (ASX:SGI), rose by as much as 20% before retreating to 11% today. The company announced that it struck a deal to acquire the business assets of Skipper Transport Parts, including its store network across WA and Queensland. SGI called Skipper a “strategic fit” which will facilitate additional cross-selling opportunities across its WA distribution network.

Shares in micro-cap energy and resources tech company Environmental Clean Tech (ASX:ECT) doubled after announcing the purchase of a rotary kiln, a key Phase 2 component of its Coldry-enabled char project. The total cost of the acquisition is estimated to be $300,000, and is anticipated to deliver savings of up to $500,000, reducing Phase 2 lead time by up to four months.

Air and water purification company Purifloh (ASX:PO3) got a speeding ticket from the ASX, and its shares were suspended after they surged by 24 per cent today on no news. The company released an announcement yesterday, citing an ABC 7.30 report story that encouraged the government to use effective airborne transmission prevention technology immediately to minimise the risk of hotel quarantine.

In response to that report, Purifloh says its technology is chemical and hazard free, and is an ideal solution for guests, security personnel and frontline cleaning staff with minimal risk of infection.

Firefly Resources (ASX:FFR) announced that multiple unrecorded and undrilled gold shafts and shallow workings have been identified from high-resolution drone imagery at Yalgoo. Initial groundwork over previously undrilled and unrecorded century-old workings returned assays of up to 12.38g/t.

Investors dumped shares in newly listed MLG Oz (ASX:MLG), sending it down 17 per cent, after the company announcing that its crushing and screening operations, which account for 20% of its business, had experienced a reduction in available material to process from several clients due to production constraints. However, the company also said it is on track to reach prospectus forecast of $241.6m in revenue and $41m EBITDA for the full year.

 

TRADING HALTS

Monday

1414 Degrees (ASX:14D) – management update
IXUP (ASX:IXU) – acquisition
Bryah Resources (ASX:BYH) – capital raising
CZR Resources (ASX:CZR) – capital raising
Neometals (ASX:NMT) – project update
Riedel Resources (ASX:RIE) – capital raising
Australian Pacific Coal (ASX:AQC) – modification application

Tuesday

Doriemus (ASX:DOR) – capital raising
BlackEarth Minerals (ASX:BEM) – transaction
Queensland Pacific Metals (ASX:QPM) – off-take and funding agreement
Ora Banda Mining (ASX:OBM) – capital raising
Globe Metals and Mining (ASX:GBE) – Malawi Mineral Lease application

The post Last Orders: ASX 200 touches record highs as Energy soars again appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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