Last Orders: ASX rockets over 1 per cent led by resources; hits record closing high

The ASX had a solid start to the week, gaining over 1 per cent and hitting a record high.

The ASX 200 closed 1.3 per cent up at 7,172.8 which is a record closing high although not quite an all-time intra day high.

All sectors were in the green except utilities, which fell 0.1 per cent while resources were the best performing, gaining 3.35 per cent. The runner up was industrials, which rose 1.27 per cent. Small caps saw less of a surge, with the ASX Emerging Companies Index only gaining 0.12 per cent closing at 2,109.

The top stocks with news were Xantippe Resources (ASX:XTC), which won an exploration license and E2 Metals (ASX:E2M) off the back of exploration results.

 

ANNOUNCEMENTS YOU MAY’VE MISSED

A2 Milk (ASX:A2M) fell yet again after another earnings downgrade. The company is tipping $1.2-$1.25 billion in revenue in FY21 having tipped up to $1.55 billion in December and $1.4 billion in February. The company blamed difficult trading conditions in the China infant nutrition and daigou reseller markets.

Regional Express (ASX:REX) also gave a trading update in which it tipped – despite high competition and the end of JobKeeper – that it would finish FY21 in a breakeven situation. The company also said it would announce even more routes on “other Qantas monopoly ports” soon.

Asthma inhaler manufacturer Adherium (ASX:ADR) has told shareholders to reject the bid made by Respiri (ASX:RSH). It argues the differences between the two meant such a deal would increase risk and Adherium had good long term prospects as a stand alone entity.

Despite the exploration results today E2 Metals (ASX:E2M) received a s.249D notice requesting a meeting to remove its director Todd Williams. While the company said it would hold a meeting it warned shareholders no replacement director was proposed and Williams’ removal would see the company short of the quorum for public company directors under the Corporations Act.

Payments company Tyro (ASX:TYR) announced it was entering the telehealth space by acquiring Melbourne digital health payments business Medipass for $22.5 million. The company, which is part-owned by NAB Ventures, has a cloud-based platform enabling healthcare providers to accept payments without a healthcare terminal.

Cannabis stock Bod Australia (ASX:BDA) recorded the highest ever monthly sales of its products in Australia – filing 1,789 MediCabilis prescriptions in Australia. The company also told shareholders it had a number of new products in the pipeline that would be launched imminently.

American Pacific Borates (ASX:ABR) told shareholders it was deferring construction of Phase 1A of its Fort Cady borate mine. The move sent the company crashing over 25 per cent today.

 

TRADING HALTS

Tuesday 

Challenger Exploration (ASX:CEL) – tenement position update
Victory Mines (ASX:VIC) – assay results
Health House (ASX:HHI) – acquisition
New Age Exploration (ASX:NAE) – capital raising
DomaCom (ASX:DCL) – media clarification
Inventis (ASX:IVT) – capital raising

Wednesday

Okapi Resources (ASX:OKR) – project acquisition & capital raising
Artemis Resources (ASX:ARV) – capital raising
Blaze International (ASX:BLZ) – capital raising
CFOAM (ASX:CFO) – capital raising
Trigg Mining (ASX:TMG) – maiden JORC estimate
Thomson Resources (ASX:TMZ) – project acquisition
Carpentaria Resources (ASX:CAP) – project update

The post Last Orders: ASX rockets over 1 per cent led by resources; hits record closing high 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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