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Highlights
Utilities stocks weighed on the ASX 200, reversing earlier market gains.
Uranium mining companies including Deep Yellow and Boss Energy saw notable upward momentum.
Clarity Pharmaceuticals and DigiCo Infrastructure REIT delivered solid sector-specific updates.
Australian shares tracked by the ASX 200 index slipped into negative territory during afternoon trade after opening on a positive note. The downward movement was largely driven by a slide in utilities stocks, with key constituents of the sector recording declines.
Major players such as Origin Energy (ASX:ORG), APA Group (ASX:APA), Mercury NZ (ASX:MCY), AGL Energy (ASX:AGL), and Meridian Energy (ASX:MEZ) all faced downward pressure. The broader utilities index dropped, reflecting investor caution and a subdued outlook across the segment.
Six of the eleven sectoral indices on the ASX 200 posted losses, as defensive sectors underperformed during the session.
Uranium Miners Outperform
Contrary to the broader market trend, uranium miners displayed significant strength. Deep Yellow (ASX:DYL), Boss Energy (ASX:BOE), and Paladin Energy (ASX:PDN) emerged among the top-performing stocks on the All Ordinaries index.
The rise followed a fresh capital raise announcement by the world’s largest physical uranium investment fund, which bolstered sentiment across the uranium segment. Stronger interest in nuclear-related commodities underpinned the movement, giving miners a sector-wide boost.
Gold Miner Faces Downgrade
Regis Resources (ASX:RRL) saw a notable decline after receiving a rating downgrade from a major financial institution. The stock was among the weakest performers on the ASX 300, as sentiment cooled amid revised expectations.
This movement highlights the influence of broker actions on price movements, particularly within the materials sector.
Clarity Pharmaceuticals Secures Manufacturing Deal
Clarity Pharmaceuticals (ASX:CU6) climbed in trade following news of a new commercial manufacturing agreement. The agreement involves the production of its radiopharmaceutical candidate Cu-SAR-bisPSMA, a treatment currently being developed within the targeted oncology space.
The update from Clarity added positive momentum to the healthcare segment on the ASX 100, despite broader market softness.
DigiCo Infrastructure REIT Confirms Distribution
DigiCo Infrastructure REIT (ASX:DGI) experienced upward movement following a corporate update regarding its planned distribution. The company confirmed a dividend payout for the upcoming financial year, contributing to its gains.
