On Monday, due to a drop in battery material prices, the Australian sharemarket experienced a widespread sell-off in lithium stocks, resulting in a decrease of 0.06 per cent to 7,309.20.
FuturesThe Dow Jones futures are pointing to a fall of 10 points.
The S&P 500 futures are pointing to a fall of 0.5 points.
The Nasdaq futures are pointing to a rise of 8.5 points.
The SPI futures are down 10 points.
Best and worst performersThe best-performing sector was Energy, up 2.2 per cent. The worst-performing sector was Materials, down 1.41 per cent.
The best-performing large cap was Whitehaven Coal
(ASX:WHC), closing 3.14 per cent higher at $7.23. It was followed by shares in Woodside Energy Group
(ASX:WDS) and Santos
(ASX:STO).
The worst-performing large cap was Pilbara Minerals
(ASX:PLS), closing 5.75 per cent lower at $4.59. It was followed by shares in Allkem
(ASX:AKE) and IGO
(ASX:IGO).
Asian marketsJapan's Nikkei has gained 1.23 per cent.
Hong Kong's Hang Seng has lost 2.43 per cent.
China's Shanghai Composite has lost 0.22 per cent.
Company newsMicro-X
(ASX:MX1) extends contract with U.S. DHS to test self-screening modules at an airport. In response, Micro-X Inc. Chief Executive Officer of Americas and Chief Scientist, Brian Gonzales, commented: “This contract extension fully funds us to build and test the design of a self-screening checkpoint in real airports, demonstrating the improvements and refining the design with real passenger and operator input.” Shares closed 9.52 per cent higher at 11.5 cents.
European Metals
(ASX:EMH) has reached an agreement with the EBRD, in which they will invest €6 million to support the company’s Cinovec project in the Czech Republic. In response, Keith Coughlan, Executive Chairman, said: “The EBRD investment aims to fund the project’s pre development work and opens a pathway to potentially securing project financing.” Shares closed 9.21 per cent higher at 83 cents.
Tamboran Resources
(ASX:TBN) has announced that the H&P rig has been mobilised to the Beetaloo Basin for drilling. In response, Managing Director and CEO, Joel Riddle, said, “[H&P’s] rig brings modern US drilling technology to the Beetaloo Basin, a key first step to achieving material reduction in drilling costs and efficiencies.” Shares closed 6.25 per cent higher at 17 cents.
Commodities and the dollarGold is trading at US$1,961.20 an ounce.
Iron ore is 0.8 per cent lower at US$115.35 a tonne.
Iron ore futures are pointing to a 0.1 per cent fall.
Light crude is trading $0.30 lower at US$76.77 a barrel.
One Australian dollar is buying 67.30 US cents.
