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Northern Star will put a $5 billion bid across the table to acquire De Grey mining, as the gold price continues to sit near the top of its range.

MARKET WRAP:

  • ASX200: up 0.14%, 8,447

  • GOLD: $2,654 US/oz

  • BITCOIN: $147,889 AUD

  • A $5 billion bid for De Grey Mining by gold giant Northern Star Resources saw De Grey shares lift almost 30% to $1.97, while Northern Star went the other way, down 5.3% to $16.59.

  • IGA operator Metcash lifted 2.2% to $3.19, despite underlying profit down by 5.5% to $134.6 million in first half earnings.

  • Mineral Resources and IGO both up 6.2%.

  • And a mixed day for the banks saw NAB up 0.5% & ANZ up 0.6%, while Commbank and Westpac both went backwards.

  • GQG Partners slid by 14% to $2.02 after receiving a broker downgrade from UBS.

  • Clarity Pharmaceuticals down 6.2% and Regis Healthcare down 3.4%

  • While down more than 1% was Dexus, Charter Hall and Lovisa.

CURRENCY UPDATE:

  • AUD/USD: 65.01 US cents

  • AUD/GBP: 51.2 pence

  • AUD/EUR: 61 Euro cents

  • AUD/JPY: 97 Japanese yen

  • AUD/NZD: 1.10 NZ dollars

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