Market Update: Energy keeps light bright in a sea of red

The Market Herald04-11

The ASX is down .7 of a per cent with every sector – except energy – in the red. Real estate is taking a dive – the sector has lost nearly 2 per cent mid-session. In other news this morning – the ABS ...

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Business turnover for the Mining industry had the largest monthly fall in February of 9.6 per cent. The ABS says the fall in Mining turnover was largely due to declining commodity prices, particularly iron ore.Wound care and skin restoration developer AVITA Medical  is down nearly 11 per cent after providing an update on its anticipated revenue for Q1 2024 – and downgrading its commercial revenue guidance for the quarter.Vulcan Energy  is up nearly 14 per cent on news it’sbecome the first company to produce lithium chemicals from their Lithium Extraction Optimisation Plant  in Germany – hoped to be used on the continent,And Haranga Resources has announced the results from 19 recent RC drillholes on-site at its Senegalese uranium acreage.","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7067":"生物科技","BK7095":"多种金属与采矿","AVH.AU":"Avita Therapeutics","HAR.AU":"HARANGA RESOURCES LTD","VUL.AU":"VULCAN ENERGY RESOURCES LTD","BK7508":"医药生物股","BK7504":"锂钴概念"},"translate_title":"市场更新：能源在红色的海洋中保持光明","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVH.AU":1,"HAR.AU":1,"VUL.AU":1},"content_text":"The ASX is down .7 of a per cent with every sector – except energy – in the red.\nReal estate is taking a dive – the sector has lost nearly 2 per cent mid-session.\nIn other news this morning – the ABS has released the monthly business turnover indicator. Business turnover for the Mining industry had the largest monthly fall in February of 9.6 per cent. The ABS says the fall in Mining turnover was largely due to declining commodity prices, particularly iron ore.\nThe frailties of metal ore prices was offset by growth in the Oil & Gas Extraction subdivision, which rose by 5.1 per cent in the second month of the year.\nToday we’ve turned the spotlight onto Avita Medical, Vulcan Energy and Haranga Resources.\nCompany news\nWound care and skin restoration developer AVITA Medical (ASX: AVH) is down nearly 11 per cent after providing an update on its anticipated revenue for Q1 2024 – and downgrading its commercial revenue guidance for the quarter. \nIt now anticipates its commercial revenue to be between US$11.0 million and US$11.3 million – which is about 25% lower than the previously estimated range of US$14.8 million to US$15.6 million.\nThe company says this is due to a slower-than-expected conversion rate of new accounts for the expanded use of its products in treating full-thickness skin defects.\nDespite that, it remains optimistic about future growth prospects.\nAVH has been trading at $4.\nVulcan Energy (ASX:VUL) is up nearly 14 per cent on news it’s become the first company to produce lithium chemicals from their Lithium Extraction Optimisation Plant (LEOP) in Germany – hoped to be used on the continent,\nProduction began at the plant to produce lithium chloride (LiCl) product – with early results showing extraction levels to be consistently over 90 per cent.\nVUL has been trading at $3.25.\nAnd Haranga Resources (ASX:HAR) has announced the results from 19 recent RC drillholes on-site at its Senegalese uranium acreage.\nThe best results intercepted were 36m at 913 parts per million of uranium from a depth of 39m – including 14 metres at 1700 parts per million.\nHAR has been trading at 12 cents.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2426405185"}