The Last Trade || ASX Hits 7,300 As Record-Breaking Rally Accelerates

This is the last show of the day - The Last Trade. Lets get started with today’s market close commentary.

• The S&P/ASX 200 ended higher by 35.30 points or 0.49% at 7,295.40, setting a new 100-day high. The index closed higher for the third consecutive week, clocking a weekly gain of 1.61%.

   • The market breadth, indicating the overall strength of the market, was strong with eight of the 11 sectoral indices settling in green. The Healthcare sector emerged as the top performer, gaining 1.5%. 

• The share price of Appen (ASX:APX) dropped 6% to AU$12.26 after it revealed that its CEO Mark Brayan has sold 109,430 shares in the company. 

• Shares of Decmil Group (ASX:DCG) fell as much as 4% to 48 cents, their lowest since 11 September 2020, after the company lowered its revenue guidance for FY21. The company has downgraded its annual revenue forecast to be in the range of AU$300 million to AU$320 million after previously anticipating revenue of around AU$360 million.  

• Kin Mining NL (ASX:KIN) reported encouraging assay results from the recently completed air-core (AC) drilling program at the Mount Flora prospect.

• Shares of Accelerate Resources (ASX:AX8) jumped as much as 18% to 4.6 cents after Cobalt and gold explorer executed a Heads of Agreement (HOA) with precious and base metals explorer Stunalara Metals. The company has granted an option to Stunalara Metals to acquire 100% stake in its non-core Mt Read Project in Tasmania. 

• Shares of graphite producer Magnis Energy Technologies (ASX:MNS) rose as much as 8.6% to 31.5 cents, their highest since 19 May 2021, after its New York unit produced its first full sized prismatic lithium-ion battery cells ahead of schedule. The products are still to undergo limited testing and customer sampling in Q3 2021, MNS said in an ASX filing. 

• Shares of Resonance Health (ASX:RHT) fell as much as 18% to AU$5.129, their biggest one-day percentage loss since February 2020, after its Chief Executive Officer Alison Laws resigned, citing personal reasons. 

• Shares of the industrial tools distributor Stealth Global Holdings (ASX:SGI) rose as much as 31.6% to 12.5 cents, their highest since 11 February 2021.

• Shares of Gascoyne Resources Ltd (ASX:GCY) fell as much as 18.5% to 44 cents after the gold explorer said that its June quarter production would be hit by resourcing shortage. 

• The share price of MLG Oz Ltd (ASX:MLG) slumped as much as 14.9% to AU$1.085, their lowest on record since its IPO listing on 4 May 2021. 


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