From Crown Resorts to Silver Lake Resources: 10 stocks that grabbed headlines today 

Summary

  • The ASX 200 added 8 points to settle at a new high of 7,394.4, led by health care and tech stocks.
  • Shares of Star Entertainment and Crown Resorts ended lower on withdrawal of a merge proposal.
  • Western Gold Resources made a weak debut on the ASX today.
  • PointsBet Holdings shares rose nearly 3% following a slew of announcements.

The Australian benchmark index, ASX 200, ended at record closing high on Friday, supported by gains in health care and information technology stocks. The index added 8 points or 0.11% to settle at a new high of 7,394.4. In a volatile week dominated by resurgence of COVID-19 cases and subsequent lockdowns in major cities, the benchmark managed to register a weekly gain of 0.63%.

Here are top ten shares that grabbed the headlines today:

Shares of Star Entertainment Group Limited (ASX:SGR) ended 0.56% lower at AU$3.53, paring early gains, after the company withdrew a proposal to merge with fellow Australian casino operator Crown Resorts (ASX: CWN). However, as per Star’s official statement, Crown is still willing to continue the merger discussion in terms acceptable to both the business entities. Weight down by the news, shares of Crown Resorts dropped 2.24% to settle at AU$10.02.

Shares of software firm Altium (ASX:ALU) closed 1.56% higher at AU$33.11, snapping a four-session losing streak. Overall, the stock ended the week with over 1.16% loss in the wake of American software company Autodesk withdrawinng its AU$38.50 per share takeover bid. 

Gold exploration company Western Gold Resources (ASX:WGR) made a weak debut on the ASX today. The gold stock declined as much as 9% to hit an intraday low of 18.2 cents against a listing price of 20 cents. Paring early losses, the stock closed flat at the listing price. The Australia-focused explorer had received an overwhelming response to its AU$7 million initial public offering (IPO). A wholly owned subsidiary of GWR Group, the gold miner intends to use IPO proceeds to increase its mineral resources by bringing the Wiluna project towards production.

Shares of PointsBet Holdings (ASX: PBH) ended 2.8% higher at AU$12.43 after the corporate bookmaker made a slew of announcements. The company has expanded its iGaming operations in the US with approval from the New Jersey Department of Gaming Enforcement (NJDGE). Its wholly owned subsidiary PointsBet New Jersey LLC has rolled out a proprietary iGaming platform in the state. In a separate development, the company also announced the appointment of Scott Vanderwel as Chief Executive Officer for PointsBet Canada, effective 17 August 2021.

The share price of fruit and vegetable supplier Costa Group Holdings (ASX:CGC) rose 0.3% to end at AU$3.33 after it completed the retail shortfall bookbuild for its fully underwritten Retail Entitlement Offer. Book building commenced after the market close on 22 July 2021. CGC had offered approximately 8.5 million retail entitlements under the Retail Shortfall Bookbuild. The retail shortfall bookbuild clearing price was AU$3.32 per new share. It represented a premium of 32 cents on the offer price of AU$3 per new share.

Shares of gold miner Silver Lake Resources (ASX:SLR) closed 8.5% lower at AU$1.62 on Friday. During the day’s trade, the stock tumbled as much as 11% on weak quarterly output. The company has posted group production of 64,000 ounces (64kzos) gold equivalent for the June quarter, down 12% from 73,000 ounces a year earlier. For FY21, the group reported sales of 249,000 ounces gold equivalent, compared with 263,000 ounces in 2020.

Evolution Mining Limited (ASX:EVN) shares ended in the green, rising 4.42% to AU$4.25, after the company raised AU$400 million, having completed the institutional component of its capital raising. The company intends to use these funds to acquire assets from Northern Star Resources.

The share price of Western Areas Limited (ASX:WSA) surged 5% to AU$2.52 on meeting the FY21 production guidance. The company produced 16,180 tonnes of nickel over FY21. Meanwhile, the production at its flagship Forrestania mine in Western Australia climbed 16% in the June quarter to 4911 tonnes.

Shares of PVW Resources (ASX:PVW) rose 12.2% to settle at 16 cents after the company expanded the area of its Western Australian project. The gold-focused miner has entered a deal with adjoining tenement holders to increase the prospective Kalgoorlie tenement package by 50%. Also, the company acquired Stark Resources, a private miner which owns a portion of Kalgoorlie land package, located in Western Australia.

High-street retailer Myer Holdings Limited (ASX:MYR) dropped 2.15% to 46 cents on Friday. The company has secured a ten-year lease on a new 40,000 square metre facility in Victoria as its national distribution centre (NDC) for both stores and online fulfilment. It expects that for its online business, 70% of fulfilment will be performed by the NDC.

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