The ASX is trading lower this morning with most sectors lower led by tech, down 1.39 per cent. The best-performing sector is Energy, up 2.87 per cent.
At noon, the S&P/ASX 200 is 0.02 per cent or 1.20 points lower at 6685.90.
The best-performing stock in the S&P/ASX 200 is Lake Resources (ASX:LKE)
, trading 9.60 per cent higher at $0.69. It is followed by shares in Pendal Group (ASX:PDL)
and JB Hi-Fi (ASX:JBH)
The worst-performing stock in the S&P/ASX 200 is HUB24 (ASX:HUB)
, trading 5.23 per cent lower at $22.48. It is followed by shares in Suncorp Group (ASX:SUN)
and PointsBet Holdings (ASX:PBH)
announced this morning that it has achieved further significant milestones in its funding strategy for the 100 per cent owned Mount Peak Vanadium - Titanium iron project in the NT following the receipt of letters of interest from Euler Hermes and seven lenders active in Mining & metals and eco Finance. TNG CEO Paul Burton commented “ This marks another significant and exciting milestone in our multi- source funding strategy for Mount Peak. The receipt of a letter of interest for A$300 million in funding from Euler Hermes represents a significant achievement for TNG and represents the culmination of many years of hard work at TNG". Shares in TNG are currently trading 8.82 per cent higher at 74c.
announced this morning Results from three randomised controlled trials in class II/III HFrEF and in end-stage HFrEF with left ventricular assist devices (LVADs) support the idea of a common mechanism of action by which rexle mest rocel-L reverses inflammation-related endothelial dysfunction and reduces adverse clinical outcomes across the spectrum of HFrEF patients .” Shares in MSB are currently trading 9.94 per cent higher at 94c.
Shares in investment platform HUB24 (ASX:HUB)
fell more than 5 per cent on Tuesday despite announcing record quarterly net inflows of $11.7 billion, up 38 per cent on the same time last year. The total number of advisers using the platform is now 3486, up 13.8 per cent on the previous period, but relatively stable on the previous two quarters. Some traders believe falls could stem from an overall weakness in growth stocks, but also a slowdown in advisers could signal a slowdown in flows in the coming quarters.
Vintage Energy Ltd (ASX:VEN)
and it’s JV partners Bridgeport and Metgasco announced commencement of a work program to bring the Odin gas discovery to market at the earliest opportunity. The JV has agreed to commence Concept Engineering for connection of the Odin gas field to the Vali-Beckler pipeline, as well as preparation of a commercial plan for marketing of the field’s gas. It is anticipated these initiatives, followed by the securing of a Gas Sales Agreement, could see field work begin in the second half of FY23 (subject to JV and regulatory approvals) and gas sales from Odin commence in the first half of FY24. VEN shares are currently trading 8.64 per cent higher at 8.8c
JB Hi-Fi (ASX:JBH)
posted record sales and earnings for fiscal 2022, with online revenue jumping more than 50 per cent, as shoppers returned to stores as COVID-19 restrictions eased. Group revenue rose 3.5 per cent to $9.3 billion from a year ago, supported by strong same store sales growth of 10.9 per cent in its Australian business in the last quarter of the year. Shares in JBH are trading 3.94 per cent higher at $42.49.
Production volumes at BHP’s (ASX:BHP)
flagship Australian iron ore and coking coal divisions will be soft over the next 12 months after pandemic and weather-related disruptions hit volume growth. BHP told investors it would sell between 278 million and 290 million tonnes of iron ore this year, with the midpoint in line with export volumes achieved in the last three years. BHP shipped 283.94 million tonnes over the past 12 months, little changed from the 283.87 million tonnes in the year to June 2021 and the 283.25 million tonnes shipped the previous year. Shares in BHP are currently trading unchanged at $36.97.
drops after ANZ deal wiping out nearly all gains made on Monday after reaching a deal to sell its banking unit to ANZ. Shares in the Queensland financial services firm are 3.99 per cent lower to $11.31. On Monday shares had jumped 6.1 per cent to $11.78 on ANZ's planned takeover. The deal, which is the largest banking buy-up in over a decade faces a number of hurdles before getting the greenlight including approval by the ACCC, the Queensland government and Federal Treasurer Jim Chalmers.Commodities and the dollar
Gold is trading at US$1706.97 an ounce.
Iron ore is 4.5 per cent higher at US$100.90 a tonne.
Iron ore futures are pointing to a rise of 1.28 per cent.
One Australian dollar is buying 68.17 US cents.