ASX Market Close: Banks and miners lead Index down, but Chris Ellison's MinRes spikes higher | September 11, 2024

ASX News Market Summary
11 Sep 2024 16:56 (AEST)

The ASX200 closed down 0.3% at 7,988 points.

The US Presidential debate between Trump and Harris had little affect on the Aussie market, but did see US futures fall slightly lower.

Eight out of the eleven sectors were down, with Financials, Energy and Information Technology all falling around 1.4%. Materials finished in the green, up around 1.7% and Utilities, up 0.6%.

In the Green

Chris Ellison’s Mineral Resources (ASX:MIN) closed up more than 16% after the Foreign Investment Review Board conditionally approved the sale of its 49% interest in the Onslow Iron haul road.

The company expects to receive $1.3 billion on deal closure.

Mineral Resources closed at $35.28.

Pilbara Minerals (ASX:PLS) finished up more than 13.7% despite there being no news out of the lithium giant today. Lithium stocks climbed today after reports Chinese battery giant CATL suspended production.

Pilbara Minerals closed at $2.68.

Genetic Technologies (ASX:GTG) closed up 7.5% after partnering with Chicago-based CancerIQ, a digital platform that aids healthcare institutions in cancer prevention.

The collaboration kicks off CancerIQs growth into polygenic-integrated clinical risk prediction, enhancing the identification of high-risk patients across 45 healthcare systems and 250 clinics.

Genetic Technologies closed at 4.3 cents.

In the Red

REA Group (ASX:REA) finished down around 2.5% after its proposed acquisition of UK property listings company Rightmove was knocked back.

REA told investors the Rightmove board ejected the $11 billion deal.

REA closed at $197.50.

NextDC (ASX:NXT) wrapped up down more than 5.5% after successfully completing a $550 million institutional placement.

The funds have been ear marked for the acquisition of new data development sites in Asia.

NextDC closed at $16.85.

And Karoon Energy (ASX:KAR) closed down around 2.7% in reaction to the imminent closedown of the Who Dat oil and gas assets in the Gulf of Mexico.

The advancement of Hurricane Francine was the catalyst for the closure.

Karoon Energy closed at $1.43.


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