ASX Market Update: Index flat as Mineral Resources bounces back | October 28, 2024

ASX News Market Summary
28 Oct 2024 14:37 (AEDT)

The ASX200 has been trading flat at 8,210 points.

The local bourse is in a holding pattern and trading flat on the eve of the September quarter CPI data out on Wednesday, and the much-anticipated United States election taking place next week.

The IT sector has been the strongest performer, up 1.9%, followed by Discretionary, up 0.9% and Materials, up 0.7%.

Company News

Mineral Resources (ASX:MIN) has been up 3.5% after being down more than 1% in morning trade. The company updated the market on its investigation process and flagged a further announcement to be released by next Monday, November 4.

Mineral Resources has been $35.30

Paladin Energy (ASX:PDN) has been down 16% on release of its quarterlies. The report revealed the company has been selling uranium well below current spot prices. Investors reacted unfavourably.

Paladin Energy has been $10.20.

Investors reacted strongly to drilling results from Asian Battery Metals (ASX:AZ9). The company has been up 87% after massive sulphide mineralisation was identified at the Oval Copper-Nickel-Platinum Group Element (PGE) Project in Mongolia.

Asian Battery Metals has been 9 cents.


arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.