Last Orders: ASX caps off a 2 per cent gain this week by reaching record high again

The ASX has capped off a 2 per cent gain this week after reaching a record high again.

The ASX 200 opened the week at 7,029 points and closed today at 7,179.5 – representing a gain of more than 2 per cent this week as well as a 1.19 per cent gain today.

This is better than the previous high reached 2 weeks ago as well as the peak right in mid-February last year before COVID-19 hit.

The ASX Emerging Companies Index rose by over 1 per cent today closing at 2,190.

All sectors were in the green except tech, which lost 0.53 per cent. The best performing sector was resources, which gained 1.88 per cent.

Resources made up many of the ASX’s biggest winners although few of them had news – one exemption (and the biggest gainer with news) was Alchemy (ASX:ALY), which completed phase one drilling at its Karonie gold project.

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Financial services and lending company Latitude Group (ASX:LFS) told shareholders it expected a net profit after tax of between $115 million and $120 million and to pay a dividend of 7.85 cents per share. The company said lending volumes were strong and unlikely to be affected by the current lockdowns in Victoria.

Almond company Select Harvest (ASX:SHV) unveiled results for the six months ended on March 31. Despite having an almond crop up 21 per cent its net profit fell 93 per cent from $17.4 million to $1.3 million – something the company blamed on lower almond prices.

Uranium stock Peninsula (ASX:PEN) unveiled a $15 million capital raise which it said would be used to purchase 300,000 pounds of uranium. It will pay US$31.35 cents per pound and will store the uranium at its Cameco Facility in Canada.

Nuix (ASX:NXL) formally cut ties with controversial co-founder Tony Castagna but fell another 5 per cent today.

The fight to stay alive continued for Factor Therapeutics (ASX:FTT), which presented to shareholders its latest potential acquisition – in resources. The company is looking to buy PowerLime – a calcium limestone explorer with a project in Southern Georgia, US. The company said that while this was substantial shift from life sciences, it was the right business opportunity to present to shareholders.

 

TRADING HALTS

Monday

Immuron (ASX:IMC) – acquisition
3D Resources (ASX:DDD) – capital raising
Prominence Energy (ASX:PRM) – capital raising and project update
DevEx Resources (ASX:DEV) – capital raising
Kingwest Resources (ASX:KWR) – capital raising
Centaurus Metals (ASX:CTM) – scoping study results

Tuesday

Genetic Technologies (ASX:GTG) – COVID test update
Traka Resources (ASX:TKL) – price query
Odyssey Gold (ASX:ODY) – capital raising
Latin Resources (ASX:LRS) – JORC resource

The post Last Orders: ASX caps off a 2 per cent gain this week by reaching record high 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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