In a market reversal from yesterday’s strong 1.7% performance, the ASX200 has followed Wall Street lower and is trading down 0.74% this afternoon. The Healthcare, Tech and Real Estate sectors are leading the decline, while Materials is the only sector in the green.
Despite today’s losses the benchmark index remains on track to end the week almost 1% higher.
While Financials have been hard hit today, Bendigo Bank has been a top performer, despite news that its unaudited cash earnings for the year to date were down 2.3% from a year ago. BEN shares are now up more than 8%, due to the results coming in better than expectations combined with an improvement in the bank’s net interest margin for the period.
New legislation aimed at reducing vehicle emissions
The Australian Greens support new legislation aimed at reducing vehicle emissions in a deal brokered with the federal government. The agreement includes measures to promote fuel-efficient cars and electric vehicles (EVs), along with changes to taxes on offshore gas.
A controversial provision allowing gas projects to bypass environmental regulations will also be abandoned under the deal.
The Senate passed the bill last night, establishing the New Vehicle Efficiency Standard without amendments, cementing it into law.
Read more: Greens help pass new vehicle efficiency laws, push ALP to scrap contentious gas power
Five at Five
Helix Resources raises $2.3 million in oversubscribed rights issue to fund Canbelego copper drilling
Helix Resources Ltd (ASX:HLX)’s renounceable rights issue has closed significantly oversubscribed, raising $2,323,146 to advance its copper and gold exploration strategy.
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Poseidon Nickel resumes exploration at Lake Johnston lithium project
Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) has kicked off a soil and rock sampling program at the Lake Johnston Lithium Project after a four-month hiatus,
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Alkane Resources restructures Tomingley Gold Operations expansion debt facility
Alkane Resources Ltd (ASX:ALK, OTC:ALKEF) has moved to restructure a debt facility provided by Macquarie Bank to finance the first stage of the Tomingley Gold Operations expansion in central NSW.
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Alligator Energy now drilling Big Lake Uranium Project, South Australia
Alligator Energy Ltd (ASX:AGE, OTC:ALGEF) has commenced its inaugural stratigraphic drill program for the Big Lake Uranium Project in the Cooper Basin of South Australia
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Latrobe Magnesium on track to clear debt after approval of $12.5 million tax rebate
Confirmation from the Australian Tax Office (ATO) that Latrobe Magnesium Ltd (ASX:LMG, OTC:LTRBF)’s research and development tax rebate of $12.5 million has been approved is set to improve the company’s balance sheet significantly.
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On your six
TGA seeks feedback on proposed medical device regulation reforms
The Therapeutic Goods Administration (TGA) is inviting industry feedback on proposed changes to the regulation of exempt medical devices and Other Therapeutic Goods (OTGs).
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One to watch
Sunstone Metals one step closer to El Palmar resource amid strong trenching results
Sunstone Metals Ltd (ASX:STM) managing director Patrick Duffy joins Elisha Newell in the Proactive studio soon after completing a site visit at the company’s gold and copper prospects in Ecuador.
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