TMH Market Close: ASX200 scrapes into the green to end the week

ASX News Market Summary
27 Oct 2023 16:46 (AEDT)

The ASX200 has managed to scrape into the green to end the week, gaining about a quarter of a per cent.

The sectors are fairly split with consumer staples in front up nearly one and a half per cent, and information tech falling almost one per cent.

US-based lithium play Chariot Corporation (ASX:CC9) joined the ASX with ticker code CC9. It’s closed day one at 25.5 cents, well down on the 45-cent IPO price.

Chariot raised $9 million through the IPO to begin diamond drilling at its Black Mountain Project next month.

Gold industry leader Newmont Corporation (ASX:NEM) has closed its first day back on the ASX at $59.50. It’s trading under the code NEM after taking over Newcrest Mining in a $26 billion deal. Newmont is already listed on the New York and Toronto stock exchanges.

In the green

Despite tech stocks being down, Information tech company Webcentral (ASX:WCG) soared 177 per after forging an agreement with European investment group Oakley Capital for the sale of two-thirds of its Webcentral Melbourne IT domains for $165 million.

The company retains one-third of equity interest in the Domains Business.

WCG finished the day at 30.5 cents.

Mineral sands company Industrial Minerals (ASX:IND) shot up 123 per cent, after securing an agreement with North West Quarries to acquire 80 per cent interest of the non-construction mineral rights at the Pippin Garra Quarry project near Port Hedland in WA.

Industrial Minerals closed the day at just over a dollar.

And, Harvey Norman (ASX:HVN) is up more than four per cent today, even though it disclosed a 49 per cent drop in its unaudited preliminary pre-tax profit for the September quarter. Furthermore, aggregated sales revenue has dipped by over 9 per cent compared to the previous year, with Australian franchisees being the poorest performers, experiencing a decline of more than 13.5 per cent.

Harvey Norman has been trading at around $3.72.

In the red

Consumer goods retailer Kogan (ASX:KGN) has fallen seven per cent, a day after the company announced a buyback of shares.

KGN closed the day at $4.30.

Genomic research company EZZ Life Science Holdings (ASX:EZZ) is down nearly 10 per cent, as the market digested its FY24 first-quarter results. Receipts from customers totalled $ 6.8 million and at the end of September, it held $13.9 million. It announced a dividend of 1c.

The company closed the day at 59 cents.

And cloud-connected medical devices creator ResMed (ASX:RMD) is down more than four per cent on its quarterly.

The company reported growth in revenue of 16 per cent year on year to $1.1 billion.

RMD finished the day at $21.56.


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