Market Update: ASX shrinks as IT takes a dip

The Market Herald04-10

The ASX200 closed the day down a third of a per cent, weighed down mostly by IT with Healthcare and Materials battling valiantly at the other end of the food chain. Healthcare led the gains, up more ...

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Soul Pattinson and 100 per cent of the working capital facility amounts.\nEOS closed at $1.66.Aspire Mining (ASX:AKM) was up nearly 3 per cent, after it received approval from the Road and Transportation Development Centre (RTDC) for the company’s design of a proposed road to be constructed in support of the Ovoot Coking Coal Project (OCCP) in north-western Mongolia.\nConstruction of this mixed-use road will also support existing agricultural and tourism industries in the region.\nAKM closed at 20c.\nCaspin Resources (ASX:CPN) shot up nearly 22 per cent on a Joint Venture agreement with Australian Strategic Materials (ASX:ASM) in which Caspin will farmout and retain a 25% free carry of the Rare Earth Element (REE) rights on the Mount Squires Project in Western Australia.\nThe agreement aligns with Caspin’s focus on nickel, copper and gold potential at Mount Squires whilst retaining exposure to its Rare Earth potential.\nCPN closed just under 9c.\nIn the red\nTech giants struggled today, the sector lost 1.2 per cent – with Wisetech Global (ASX:WTC) shedding nearly 3 per cent whilst Xero (ASX:XRO) shed more than a per cent.\nWildcat Resources (ASX:WC8) shed more than1,5 per cent despite announcing a new lithium discovery at Tabba Tabba in Western Australia.\nWildcat named it the ‘Luke’ discovery.\nThe best intercepts include 41 metres at 1% lithium oxide, but from a depth of 276 metres.\nWC8 closed at 63c.\nAnd breathing disorders developer SomnoMed (ASX:SOM) was down nearly 47 per cent on its capital raising.\nIts institutional entitlement offer was completed yesterday. SomnoMed raised $5.8 million with shares priced at 21 cents.\nIt will look to raise another 16.8 million through a retail entitlement offer later in the week.\nSOM closed trade below the raise price at 20 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/2426432282"}