Paladin Energy dropped after it overshot forecasts on its uranium. How will the company rebound?

MARKET WRAP:


ASX200: down 0.13% to 8,255


GOLD: $2,610 US/oz


BITCOIN: $136,106 AUD


Materials stocks were another 1.4% lower today, while the Tech sector gained more than 1%.


The owner of Afterpay – Block – led the way, up 10.7% to $126.40 following a good night of trade for the company’s Wall Street listing.


Tech gains were led by Wistech Global and Technology One, both up 1.8%.


Up by more than 1% were Wesfarmers, ANZ, and Reece.


Paladin Energy down almost 29% to $6.88 after it slashed its targets for production, calling previous forecasts “a bit ambitious”.


Health insurer NIB said it was on track to post an operating loss for the first half, lowering its guidance and seeing shares drop 0.7% to $5.96.


Another day of pain for both the gold & iron ore miners saw BHP down 1.8%, South 32 falling 2.4% and Northern Star off 2.7%.

CURRENCY UPDATE:


AUD/USD: 65.51 US cents


AUD/GBP: 51.1 pence


AUD/EUR: 61 Euro cents


AUD/JPY: 100 Japanese yen


AUD/NZD: 1.10 NZ dollars

Paladin Energy dropped after it overshot forecasts on its uranium. How will the company rebound?
MARKET WRAP:
<ul>
<li dir="ltr" aria-level="1">
ASX200: down 0.13% to 8,255
</li>
<li dir="ltr" aria-level="1">
GOLD: $2,610 US/oz
</li>
<li dir="ltr" aria-level="1">
BITCOIN: $136,106 AUD
</li>
<li dir="ltr" aria-level="1">
Materials stocks were another 1.4% lower today, while the Tech sector gained more than 1%.
</li>
<li dir="ltr" aria-level="1">
The owner of Afterpay – Block – led the way, up 10.7% to $126.40 following a good night of trade for the company’s Wall Street listing.
</li>
<li dir="ltr" aria-level="1">
Tech gains were led by Wistech Global and Technology One, both up 1.8%.
</li>
<li dir="ltr" aria-level="1">
Up by more than 1% were Wesfarmers, ANZ, and Reece.
</li>
<li dir="ltr" aria-level="1">
Paladin Energy down almost 29% to $6.88 after it slashed its targets for production, calling previous forecasts “a bit ambitious”.
</li>
<li dir="ltr" aria-level="1">
Health insurer NIB said it was on track to post an operating loss for the first half, lowering its guidance and seeing shares drop 0.7% to $5.96.
</li>
<li dir="ltr" aria-level="1">
Another day of pain for both the gold &amp; iron ore miners saw BHP down 1.8%, South 32 falling 2.4% and Northern Star off 2.7%.
</li>
</ul>
CURRENCY UPDATE:
<ul>
<li dir="ltr" aria-level="1">
AUD/USD: 65.51 US cents
</li>
<li dir="ltr" aria-level="1">
AUD/GBP: 51.1 pence
</li>
<li dir="ltr" aria-level="1">
AUD/EUR: 61 Euro cents
</li>
<li dir="ltr" aria-level="1">
AUD/JPY: 100 Japanese yen
</li>
<li dir="ltr" aria-level="1">
AUD/NZD: 1.10 NZ dollars
</li>
</ul>

Join Deborah Knight for Money News, the most respected business program on radio.


If you crave the latest insights into super & small business, interest rates & investment, and economics & e-commerce, then the team at Money News has everything you need to know.


Add your voice to the conversation Monday to Thursday 7pm to 8pm by calling 131 873, texting 0460 873 873, or emailing moneynews@2gb.com

Join Deborah Knight for Money News, the most respected business program on radio.
 If you crave the latest insights into super &amp; small business, interest rates &amp; investment, and economics &amp; e-commerce, then the team at Money News has everything you need to know.
 Add your voice to the conversation Monday to Thursday 7pm to 8pm by calling 131 873, texting 0460 873 873, or emailing <a href="mailto:moneynews@2gb.com">moneynews@2gb.com</a>

Advertisement