Market Close: ASX steams uphill to deliver slim gains to the station

The ASX200 closed up .2 of a per cent with IT – gaining almost a per cent – carrying a load burdened by the weight of Staples, which plunged 2.5%, and Telecommunications, 0.8%.

In the green


Digital healthcare pioneer BlinkLab (ASX:BB1) is up 5%, on its partnership with US-based Turning Pointe Autism Foundation to conduct a clinical study on autism diagnostics ahead of its FDA registration study later this year.

The study aims to enroll up to 100 children previously diagnosed with autism and 100 children without autism.

BlinkLab is hoping to integrate its neuro-behavioral tests into the foundation’s programs.

BB1 closed the day at 32.5 cents.


Australian cotton processor Namoi Cotton (ASX: NAM) gained 12.5% as two agribusiness giants – one French and the other Singaporean – compete with takeover offers for the company, which first began in March.

The Singaporean company, Olam Agri’s, position has been boosted by a letter of support from Samuel Terry Asset Management (STAM), a 24.2% shareholder of Namoi Cotton.

NAM closed the day at 72 cents.


And, Data insights business PEXA Group (ASX:PXA) gained 11% as it plans to further its strategic partnership with UK-focused banking organisation, NatWest.

NatWest Group serves over 19 million customers across retail, commercial, and private banking markets.

The company will use PEXA’s digital property exchange technology to accelerate the processing of sale and purchase transactions to provide a 48-hour remortgage transaction facility to its customers.

PXA closed the day at $13.58.

In the red


Leading provider of vehicle parts, Bapcor (ASX:BAP) was one of the biggest losers of today, down 24% after the company reported it expects second half FY24 Pro-Forma NPAT results will be below that of its first half, which sat at $54.2 million.

The company’s CEO and Managing Director, Mark Bernhard accredited this fall to “trading conditions remaining challenging as consumers continue to pull back on spending, primarily impacting its Retail business.”

BAP closed the day at $4.40.


Australian supermarket giant Woolworths Group (ASX: WOW) fell 4.2% after it posted its third quarter 2024 Financial Year results.

Although it reported a modest rise of 2.8% in overall sales, a fall of 4.1% in sales at Big W indicated that customers on a budget have become more wary of spending.

WOW closed the day at $30.50.


And, VRX Silica (ASX:VRX) fell 24% after it announced it was dropping the price of its shares in its latest Underwritten Entitlement Offer fundraising exercise.

Shares were originally priced at 7 cents per share in the offer, but the company has revised that downward to 5.5 cents per share.

Today’s decline brings the share price in line with the new Entitelement Offer price.

VRX closed the day at 5.3 cents.

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