The Last Trade || ASX Snaps 3-Day Gain As Big Banks Weigh; Altium Jumps 40%

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

• The S&P/ASX200 closed lower Monday, dropping 13.50 points or 0.19 per cent to 7281.90 after setting a new 100-day high. The bottom performing stocks in this index were SKYCITY ENTERTAINMENT GROUP, down 7.35 per cent and WEBJET, down 4.81 per cent.

• The market pared some losses in final hour of day’s trade after S&P Global Ratings upgraded its outlook on Australia's coveted "AAA" sovereign rating to 'stable' from 'negative', citing the country's swift economic recovery from the COVID-19 pandemic driven recession. 

• ASX-listed energy stocks witnessed surge in buying, owing to high oil price. Oil prices have hit fresh multi-year highs, underpinned by a brighter economic and fuel-demand outlook. Sector heavyweight Woodside Petroleum , Santos , Oil Search and Ampol gained between 1-2 per cent. 

• The financial stocks reeled under selling pressure, snapping a three-day winning run, weighed down by fall in National Australia Bank shares. Australia's remaining 'Big Four' lenders - Commonwealth Bank of Australia , Westpac Banking Corporation , and Australia and New Zealand Banking Group Limited also traded in red. 

• Tech firm Altium  emerges as the top percentage gainer on the ASX, rising as much as 40.6 per cent to AU$38.26. Nuix Limited , Appen Limited , EML Payments,  Austal Limited are among other top performers. 

• On the flip side, casino operator SkyCity Entertainment Group was the top loser on the ASX today, dropping 7 per cent to AU$3.16, before the close.

• Shares of Star Entertainment Group fell as much as 5 per cent to AU$3.770, marking their biggest intraday percentage loss since 18 December 2020.

• Shares of shipbuilder Austal Limited gained as much as 4.24 per cent to AU$2.34. The company informed the exchange that its unit, Austal USA, has been awarded a $3.6 million contract to construct new Navajo-class toeing, salvage and rescue ship for the United States Navy. 

• Shares of MNF Group Limited added as much as 4.4 per cent to AU$5.17, their biggest intraday percentage jump since 8 March 2021. The telecom firm has entered a non-binding term sheet for the sale of part of its direct business to Vonex Limited for AU$31 million. Also, the company has re-affirmed EBITDA forecast for 2021 financial year of AU$40 million to AU$43 million. 

• Shares of Japara Healthcare Limited rose as much as 6.7 per cent to AU$1.19, their highest since 6 November 2019. The company stated it has received a revised non-binding indicative proposal from Little Company of Mary Health Care Ltd (Calvary), a non-profit aged care provider, to acquire the entire stake in the company. 

• Shares of Red River Resources Limited fell as much as 10.2 per cent to 22 Australian cents, their biggest intraday percentage loss since 15 April 2021. 


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