Market Close: Energy dip shrinks ASX on a red sector day

ASX 200 Market Summary
01 May 2024 16:53 (AEST)

The ASX200 closed down more than 1.1 per cent with every sector in the red and energy in particular taking a sharp plunge.

In the green

Packaging giant Amcor (ASX:AMC)was up nearly 6 per cent despite its quarterly results.

Net sales were 7% lower than last year on a reported basis – and its Adjusted EBIT of $184 million was 6% lower than last year.

AMC closed at $14,45.

Uranium explorer Alligator (ASX:AGE) shot up 5% after identifying uranium intersections at its Samphire Uranium project, near Whyalla, in South Australia.

The drilling yielded results including 0.75 meters at 0.64% of uranium grade from a depth of 63.57 metres; and 4.44 metres at 0.43% from a depth of 61.38 metres.

AGE closed at 6.3 cents.

In the red

Woolworths Group (ASX:WOW) was down ,25 of a per cent on news it will rake in $468 million in a deal to sell a 5% stake in retail drinks network, Endeavour Group (ASX:EDV).

Endeavour operates BWS and Dan Murphy’s bottle shops within its portfolio of hospitality outlets.

Woolworths is promising to return capital to shareholders.

WOW closed at $31.82.

Endeavour Group lost nearly 4 per cent on the sell off. Previously Woolworths held 9.1% of Endeavour’s shares and with 4.1% it is now below the level for having to disclose its stake.

EDV closed at $5.15.

Energy giants struggled today, the sector lost nearly 3% with Santos (ASX:STO) and Woodside Energy Group shedding 2% and nearly3% respectively and Ampol (ASX:ALD) nearly 4%.

AndQantas Airways (ASX:QAN) was down 1% on reports of an app breach of the airline’s main app which enabled passengers and frequent flyers to access and view other passengers’ personal information.

QAN closed at $5.83.


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