Lynas (ASX:LYC) shares fall after they fail to get Malaysian approval for higher processing: ASX closes 0.04% lower

  • Home
  • Latest Market News
  • Lynas (ASX:LYC) shares fall after they fail to get Malaysian approval for higher processing: ASX closes 0.04% lower
17Dec

Lynas (ASX:LYC) shares fall after they fail to get Malaysian approval for higher processing: ASX closes 0.04% lower

 

The Australian share market slid around lunch time and struggled to gain momentum closing 0.04 per cent lower. Lynas Corporation (ASX:LYC) saw their shares drop today after they were unsuccessful in obtaining Malaysian regulatory approval for an increase in the lanthanide concentrate processing limit for Calendar Year 2019. Meanwhile, shares in the Star Entertainment Group (ASX:SGR) rose today as did CIMIC Group (ASX:CIM) – their company CPB Contractors was awarded $423 million METRONET contract today. As for the today Real Estate Investment Trust closed the day as the best performing sector and Utilities fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 2 points lower to finish at 6,847

Futures market

Dow futures are suggesting a loss of 10 points.
S&P 500 futures are eyeing a rise of 1 point.
The Nasdaq futures are eyeing a lift of 9 points.
And the ASX200 futures are eyeing a 4 point rise tomorrow morning.

Company news

Catapult Group International (ASX:CAT) ClearSky technology has achieved ‘FIFA Quality’ certification and was reported as the best-performing wearable technology in world football. ClearSky is the leading athlete tracking solution in elite sport. Undertaking the Electronic Performance and Tracking System (EPTS) Performance Test administered by Victoria University at Barcelona FC, it achieved the highest score possible in five major categories measured, and second highest in another. Shares in Catapult Group International (ASX:CAT) closed 2.3 per cent higher at $1.78.

Car retailer AP Eagers (ASX:APE) has identified inconsistencies in its payroll system, which have unintentionally resulted in over six thousand employees not being paid their full entitlements. Over a seven year period the total payment shortfall equates to $4.5 million.

The Westpac Group (ASX:WBC) released an announcement today saying they acknowledge APRA’s request to increase its operational capital requirement to $500 million. This is in response to the Australian Transaction Reports and Analysis Centre’s Statement of Claim.

Northern Star Resources (ASX:NST) is set to acquire 50 per cent of Western Australia's Super Pit gold mine. They are looking to raise US$765 million to fund its purchase. The acquisition price is $US800 million that’s $1.16 billion.

IPO

Founders First (ASX:FFL) started trading today. The craft beverage accelerator issue price was $0.50, it started trading at $0.51 And closed at $0.49.

Best and worst performers 

The best performing sector was Real Estate Investment Trust adding 0.2 per cent while the worst performing sector was Utilities, shedding 0.9 per cent.

The best performing stock in the S&P/ASX 200 was Chorus (ASX:CNU), rising 3.5 per cent to close at $5.86. Shares in IPH (ASX:IPH) and The Star Entertainment Group (ASX:SGR) followed higher.

The worst performing stock in the S&P/ASX 200 was SmartGroup Corp (ASX:SIQ), dropping 7.1 per cent to close at $7.04. Shares in Virgin Money UK (ASX:VUK) and Lynas Corp (ASX:LYC) followed lower.

Asian markets

Higher: Japan’s Nikkei has added 0.4 per cent, Hong Kong’s Hang Seng has added 1.2 per cent and the Shanghai Composite has rose 1.4 per cent.

Commodities and the dollar

Gold is trading at US$1,478 an ounce.
Iron ore price is lost 0.6 per cent at US$94.04.
Iron ore futures are pointing to a fall of 2 per cent.
Light crude is flat at US$60.14 a barrel.
One Australian dollar is buying 68.68 US cents.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

21Aug

Afternoon update: ASX dips 0.11%, Allkem shines, Global markets mixed

21 Aug 2023 - The S&P/ASX 200 index is currently trading 0.11 per cent lower at a value of 7,140.20. The SPI futures are down by 14 points.

Read More
27Aug

Centuria Industrial REIT (ASX:CIP) expands portfolio: Aus shares 0.7% higher at noon

27 Aug 2020 - The Australian share market opened higher this morning and is now trading 0.7 per cent higher at noon. Centuria Industrial REIT (ASX:CIP) has expanded it’s portfolio, acquiring two industrial properties for a total of $32.5 million. Ardent Leisure Group (ASX:ALG) reports 17.6% revenue drop.

Read More
01Aug

US stocks climb on the back of tech earnings: Dow Jones heading out of a bear market

01 Aug 2022 - Stocks climbed for a third consecutive session on Friday as investors digested strong tech earnings and looked past concerns about high inflation and a recessionary environment.

Read More
11Mar

Travel stocks soared after $1.2 billion Government tourism stimulus announced: ASX closed flat

11 March 2021 - It has been a mixed day for the ASX. After lifting at the open, the market retreated then rose into positive territory after lunch and lost its early gains on the back of Australia's Health Secretary Brendan Murphy advising that the target of Australians receiving their second dose of the Covid-19 vaccine by the end of October is likely to be missed. As for the sectors, we saw improvements in the Consumer Discretionary and Industrials...

Read More
03Feb

High court dismisses Westpac appeal on financial advice: ASX tracking 1% higher at noon

03 Feb 2021 - The local sharemarket is up 1% or 70 points higher to 6,833. The SPI futures point to a rise of 77 points. Amcor (ASX:AMC) shares did well today after they upgraded their earnings and lifted their dividend today. Westpac (ASX:WBC) acknowledges today’s decision by the High Court of Australia which has dismissed Westpac’s appeal in relation to proceedings brought by ASIC.

Read More
01Aug

Wall St rises on disappointing GDP growth, Marley Spoon serves mixed results, Why Flight Centre is a hold: ASX poised to edge higher

30 Jul 2021 - Global stocks rallied as earnings season continued amid positive economic data in Europe, though mixed numbers in the U.S. Asian markets climbed after their recent panic selling. Coverage of U.S. GDP and jobless claims, Biden’s vaccine requirement & tech titan’s mandate. Earnings figures from Yum Brands, Pinterest & Robinhood’s underwhelming debut. Marley Spoon (ASX:MMM) plated mixed results. Why UBS rates Flight Centre (ASX:FLT) as a hold.

Read More
24Jul

US job recovery stalls, rattling the markets: ASX poised to open lower

24 Jul 2020 - The ASX looks set to drop this morning with mixed results from the US overnight as their job market recovery appears to stall. Coronavirus infections across the US have now surpassed 4 million. Back home, our budget deficit hit almost $86b last financial year. Nufarm (ASX:NUF) has decided to change its financial year end from 31 July to 30 September.

Read More
15Jun

S&P 500 falls for 5th day, ANZ, Atlas Arteria, Kelsian, Hub24 on watch: ASX to fall

15 Jun 2022 - Wall Street closed mixed as investors await the Federal Reserve's interest rate hike announcement. ASX entered correction territory. What to look out for locally today.

Read More
13May

CBA (ASX:CBA) helped the market surge towards the close: ASX closed 0.4% higher

13 May 2020 - It has been a struggle of a day for the ASX after dropping at the open, it manage to gain closing 0.4% higher. Pilbara Minerals (ASX:PLS) shares did well today as did shares in Avita Medical (ASX:AVH). As for the sectors today, materials performed the best. 360 Capital Group (ASX:TGP) has launched 360 Capital Credit Income Fund.

Read More
03Apr

Inflation & rate concerns weigh on markets

03 Apr 2024 - Rising bond yields and concerns around the timing of future rate cuts by the Federal Reserve weighed heavily on US markets as investors are increasingly question the likelihood of a June rate cut.

Read More