The ASX200 is trading down more than one and a half per cent at 7,719 points.
All eleven sectors are in the red. Materials has dropped the most, down 2.3 per cent, followed by the Energy sector, down more than two per cent.
This comes on the back of US markets ending down on Friday with Nvidia stocks dropping more than five per cent. The US economy also added more jobs than expected.
In this bulletin we’ll discuss Worley, Mesoblast, Meridian Energy, Voltaic Resources and Delta Lithium.
Company News
Energy super-major Shell has awarded offshore engineering heavyweight Worley(ASX:WOR) a contract for services at the former’s Holland Hydrogen 1 facility in Rotterdam.
Worley will handle design and construction of the facility, also tasked with integrating offshore wind assets to electrical grids.
The facility is set to be Europe’s largest renewable hydrogen production site and is expected to produce 60,000 kilograms of renewable hydrogen daily.
It will replace grey hydrogen in Shell’s Rotterdam Energy and Chemicals Park.
WOR has been trading at $16.61.
Mesoblast (ASX:MSB) has received FDA approval to accelerate its drug Revascor for patients with Chronic heart failure.
Revascor demonstrated reduced inflammation and lower mortality in patients with specific heart conditions.
FDA feedback will inform Mesoblast’s plans to request a pre-Biologics License Application (BLA) meeting.
MSB has been trading at 33.8 cents, a 7% jump in intraday trades.
Australia-New Zealand dual listee Meridian Energy (ASX: MEZ) is kicking off green bond sales to Ausralian institutional investors and New Zealand retail investors to raise up to $200 million to fund the development of renewable projects across the ditch.
Australian retail investors are excluded but clients of joint lead managers ANZ, Craigs, Forsyth Barr, and Westpac can participate.
The move comes ahead of Canberra’s first issuance of Australian green bonds expected for mid-2024.
MEZ has been trading at $5.48.
And, Voltaic Resources (ASX:VSR) and Delta Lithium (ASX:DLI) have teamed up on a $12 million deal to advance the Yinnetharra lithium project in Western Australia.
Delta has the right to earn up to an 80% stake in the project over four years with only $3 million in spending required to earn 51%.
Voltaic experienced a 15% surge to 2.3 cents, and Delta shares rose over 3% by 10.50 am.
VSR has been trading at 2.2 cents.
DLI has been trading at 32.5 cents.
That’s Market Update, we’ll see you later after Market Close
