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Highlights
Droneshield and Electro Optic Systems rebound after recent declines
Qoria reaches highest level since early 2022
Spartan Resources delists after acquisition completion
The Australian market witnessed notable movements in defence-related stocks during the ASX 200 live trading session on Thursday, with Droneshield (ASX:DRO) and Electro Optic Systems (ASX:EOS) recording significant recoveries following earlier pullbacks.
Droneshield reported robust quarterly performance, marked by sharp growth in revenue, inventory, and contract pipeline value. The company stated that it has received a substantial number of orders scheduled for the next calendar year. Similarly, Electro Optic Systems released a quarterly update projecting stronger second-half performance for the financial year. The company also shared updates regarding its High Energy Laser Weapon, which remains under negotiation with multiple international parties.
Cybersecurity Stock Qoria Climbs Higher
Qoria (ASX:QOR), a cybersecurity-focused firm, surged to levels not seen since early 2022. The rise followed a trading update that highlighted strong growth in earnings and annual recurring revenue.
The company noted significant progress in its recurring revenue stream and margin expansion, which analysts say reflects improved product demand and operational execution. Qoria's technology portfolio includes tools that enhance digital safety for families and schools, positioning it strongly in the cybersecurity landscape.
Spartan Resources Set for Delisting Post Acquisition
Spartan Resources (ASX:SPR) has officially completed its acquisition by Ramelius Resources. Shares in Spartan were suspended in late July and are scheduled to be removed from the official listing by the start of August.
The stock has been replaced in the index by Infratil (ASX:IFT), which entered the benchmark ahead of the open on July 23. The update marks a shift in composition for the benchmark, reshuffling exposure in the mid-tier resources segment.
Retail Sector Edges Higher Ahead of Sales Data
The S&P/ASX 200 Discretionary Index rebounded after dipping in early trade, turning positive just before the release of key retail data.
The Australian Bureau of Statistics reported a jump in retail turnover for June, with strength seen across household goods and miscellaneous retailing. Shoppers were reported to have responded to mid-year sales and new product releases, including tech and gaming products.
The data pointed to resilient spending behaviour despite broader economic concerns. Electronics retailers were among those benefiting from the launch of high-profile gaming hardware, boosting same-store sales in the reporting period.
Frequently Asked Questions
- Which stocks led the midday rebound on the ASX 200?
Droneshield (ASX:DRO), Electro Optic Systems (ASX:EOS), and Qoria (ASX:QOR) showed strong performance during the session. - Why did Spartan Resources (ASX:SPR) get delisted?
Spartan Resources was delisted following its acquisition by Ramelius Resources and was replaced in the index by Infratil (ASX:IFT). - What drove the retail sector's performance today?
Retail sales data showing growth in household goods and tech-related purchases lifted discretionary sector performance.
