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ASX rebounds from earlier losses to close flat

At the closing bell, the S&P/ASX 200 was 0.02 per cent higher at 7,237.20, with healthcare and communication sectors performing well while energy and material stocks fell. Core Lithium (ASX:CXO) and Imugene (ASX:IMU) were the best-performing stocks, while Lynas Rare Earths (ASX:LYS) and Magellan Financial Group (ASX:MFG) shares tumbled. BHP Group (ASX:BHP) shares also fell, as did the price of iron ore on the Singapore index for the April contract.


The Dow Jones futures are pointing to a fall of 18 points.
The S&P 500 futures are pointing to a fall of 3 points.
The Nasdaq futures are pointing to a fall of 8 points.
The SPI futures are pointing to a fall of 11 points when the market next opens.

Best and worst performers

The best-performing sector was Communication Services, up 0.78 per cent. The worst-performing sector was Energy, down 0.64 per cent.

The best-performing large cap was Evolution Mining (ASX:EVN), closing 4.04 per cent higher at $3.35. It was followed by shares in SEEK (ASX:SEK) and Northern Star Resources (ASX:NST).

The worst-performing large cap was Lynas Rare Earths (ASX:LYC), closing 4.75 per cent lower at $6.21. It was followed by shares in Whitehaven Coal (ASX:WHC) and South32 (ASX:S32).

Asian markets

Japan’s Nikkei has lost 1.63 per cent.
Hong Kong’s Hang Seng has lost 0.66 per cent.
China’s Shanghai Composite has lost 0.52 per cent.

Company news

Western Mine Group (ASX:WMG) has confirmed the discovery of an extensive nickel sulphide mineral system throughout the Mulga Tank Ultramafic Complex in WA. In response, Managing Director Dr Caedmon Marriott commented, “The hole validates our geological model of the complex and really demonstrates a significant working nickel sulphide mineral system with huge volumes of mineralised ultramafic magma.” Shares closed 174 per cent higher at 31.5 cents.

Adding on to the drilling theme, Dart Mining (ASX:DTM) has commenced diamond drilling of LCT pegmatites at the Dorchap Lithium Project in Victoria. Chairman, James Chirnside commented: “We are working closely with our joint venture partner SQM to efficiently progress the drilling of these LCT pegmatite targets.” Shares closed 35.3 per cent higher at 6.9 cents.

Story-i (ASX:SRY) has announced that they have expanded into the lucrative gaming sector, as they have signed a Dealer Program Partnership Contract with Micro-Star International. Through the partnership with MSI, Story-i is now an authorised MSI reseller of a wide range of gaming laptops, PCs and accessories. Story-i’s Non-Executive Director, Michael Pixley, said, “As a technology company, we understand the importance of staying ahead of the curve with our market offering and we will continue to cultivate partnerships with other world leading brands.” Shares closed flat at 0.8 cent.

Commodities and the dollar

Gold is trading at US$2,041.40 an ounce.
Iron ore is 1.1 per cent lower at US$121.10 a tonne.
Iron ore futures are pointing to a 3.2 per cent fall.
Light crude is trading $0.27 higher at US$80.98 a barrel.
One Australian dollar is buying 67.33 US cents.