ASX Market Close: All time high for bourse | 15 July 2024

ASX News Market Summary
15 Jul 2024 17:41 (AEST)

It was another record day for the ASX200 with the local bourse climbing over 8,017 points before paring off gains heading into the close of trade.

This marks two consecutive days the ASX200 has hit all-time highs, which we’ve seen happen on Wall Street a few dozen times year to date.

Threatening to offset the good mood down under, caused by refreshed hopes of US rate cuts, is the weakening Chinese economy.

Australia’s largest trading partner posted quarterly GDP growth at a five month low as China continues to flounder in the face of low property prices and other concerns which have helped rattle metals markets this year.

Chinese retail sales also came in far below expectations, clocking 2% in June versus expectations of 3.7%. Whether Chinese economic doldrums can drown out good news around US deflation remains to be seen.

Traders will also be watching a speech from US Federal Reserve Chair Powell to be delivered overnight at 2.30am Sydney time.The release of US retail sales data tomorrow night could also impact sentiment.

In the Green

Technology play Adisyn (ASX:AI1) shot up 18% today after inking a strategic collaboration with Israeli firm 2D Generation.

Collaborating to generate transformational opportunities in the AI space, leveraging Adisyn’s learnings in data centres and cybersecurity.

Research and innovation partners include Wall Street NVIDIA, Valeo and Applied Materials.

Adisyn closed at 3.3 cents.

Atturra (ASX:ATA) is up 11% after announcing the acquisition of Exent, a strategically aligned advisory and consulting firm. The deal is $6 million in upfront cash, with an additional $2 million post completion subject to first half FY25 hurdles being met. This creates a new national footprint for Atturra, outside Canberra and Defence.

Attura closed at 80.5 cents.

Leader in prevention solutions Nanosonics (ASX:NAN) rose 5% after announcing strong growth in both capital and consumables revenue over the first half, particularly in North America. The company expects to book full year revenue of around $170 million, and second half revenue was up 14% over the prior period.

Nanosonics closed at $3.31

In the Red

Great Dirt Resources (ASX:GR8) tanked nearly 5% heading into the end of day as the share market punished the company on its quarterly results.

The stock fell to 20 cents per share in the last minutes of trade; the company has had a tough run year to date with returns down nearly 15%.

Great Dirt Resources closed at 20 cents.

Elsewhere, Solstice Minerals (ASX:SLS)posted evidence of a fresh gold anomaly on-site its Box Soak Spurs project.

Low grades in follow up drilling appear to be the culprit driving a sell-off with shares down 5% to 19 cents per share.

Finally, Liontown Resources (ASX:LTR)shares were down 3% even after the company announced a new offtake plan to help make quick cash.

The company has been under intense pressure through the lithium price crash in 2024 and the company’s plans to rejuvenate activity on Monday fell short of winning over traders.

Liontown closed at 97 cents.


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