ASX Market Close: Index claws back intraweek losses | 26 July, 2024

ASX News Market Summary
26 Jul 2024 17:21 (AEST)

The ASX200 closed up 0.76% today.

Losses from earlier in the week were clawed back with Materials the strongest sector, up 1.4% and Real Estate close behind, gaining 1.3%.

Consumer Staples ended up the only sector to lose any ground down 0.22%.

In the Green

Materials giant Mineral Resources (ASX:MIN) gained more than 3%, following an update confirming the company is on track to meet FY24 production guidance.

Mineral Resources closed at $53.48.

Monadelphous (ASX:MND) gained 1.75% after inking a $200 million contract with Woodside (ASX:WDS), to complete work on the Pluto project in WA. The work is key to the processing of gas for the larger Scarborough project.

Monadelphous closed at $12.78.

And, alternative energy smallcap 1414 Degrees (ASX:14D) jumped close to 6% on its latest quarterly results.

The company has hydrogen reactor technology and has received $1 million in funding support from Woodside (ASX:WDS) and declared $1.8 million cash and equivalents at the end of June.

1414 Degrees closed at 7.2 cents

In the Red

As staples took a late-trade stumble, Woolworths (ASX:WOW) closed down .7% to just above $34.20 ($34.21). But the grocery giant has gained more than $3.70 since early May.

Meteoric Resources (ASX:MEI) closed down more than 8% after raising $27.5 million via an 11-cent placement. It’s seeking another $5 million through an associated Share Purchase Plan.

Meteoric Resources dropped below that price today, to close at 11 cents.

And, finally, Nova Minerals (ASX:NVA)closed down nearly 15% on the closure of its $4.9 million Nasdaq IPO.IPO units were priced at US$6.92. The proceeds will be used to progress the company’s flagship gold project in North America.

Nova Minerals closed at 14.5 cents.


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