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Break it Down: AnteoTech targets US with battery joint venture

Break it Down: AnteoTech targets US with battery joint venture

News.com.au4 days ago
Stockhead's Break it Down brings you today's leading market news in under 90 seconds.
In this episode, host Tylah Tully unpacks AnteoTech (ASX:ADO), which has signed a binding term sheet with US-based Black Diamond Structures to co-develop and commercialise an advanced battery product.
The collaboration will combine AnteoTech's cross-linker technology, AnteoX, with BDS's carbon nanotube dispersion technology, known as MOLECULAR REBAR, into an advanced battery product that enables a step change in high silicon lithium-ion battery performance.
Watch the video to learn more.
While AnteoTech is a Stockhead advertiser, it did not sponsor this content.
Originally published as Break it Down: AnteoTech targets US with battery joint venture
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ASX falls for third straight session on banks and miners
ASX falls for third straight session on banks and miners

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ASX falls for third straight session on banks and miners

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ASX drops on banks and miners
ASX drops on banks and miners

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ASX drops on banks and miners

A slump in the price of iron ore and Australians dumping their bank stocks saw the local market slide for the third straight trading day. The benchmark ASX200 dropped 42.5 points or 0.49 per cent to 8,666.9 points on Friday while the broader All Ordinaries lost 45.10 points or 0.50 per cent to close the week at 8,934.30. Australia's dollar also fell and at the time of writing was buying 65.76 US cents. The ASX 200 fell for the third straight day of trading. NewsWire / Christian Gilles Credit: News Corp Australia The falls were broad based with seven of the 11 sectors ending the day in the red, led by the materials, financials and healthcare sector. BHP shares fell 1.92 per cent to $40.80, Fortescue shares dropped 3.42 per cent of $18.35 and Rio Tinto traded down 0.83 per cent to $118.86 on the back of a falling iron ore price. Singapore iron ore futures slumped 1.7 per cent to $103.35. The drop follows investors fear of an oversupply of the commodity. The big four banks continued their sell-off with CBA down 0.35 per cent to $172.87, NAB down 0.40 per cent to $37.51, Westpac slumping 0.78 per cent to $33.03 and ANZ down 0.72 per cent to $30.22. Market heavyweight CSL also fell 0.61 per cent to $267.92, while Sigma Healthcare lost 0.70 per cent to $2.84 and Cochlear slid 0.38 per cent to $312.83. AMP chief economist and head of investment strategy Shane Oliver said the Australian market fell during the week even though Wall Street continued to reset record highs. 'Resources and health stocks rose but this was more than offset by falls in consumer and financial shares, with CBA coming under after it nearly doubled in price over two years,' he said. Dr Oliver said the Australian sharemarket was still on track for a solid July up 1.4 per cent so far although the gains could be short lived. 'With lots of good news already factored in and valuations stretched, markets are a bit vulnerable to a correction over the seasonally weaker months of August and September with a long worry list,' he said. Seven of the 11 sectors finished in the red. NewsWire / Max Mason-Hubers Credit: News Corp Australia Shares in anti-drone technology business DroneShield slumped 10.09 per cent to $3.03. This was on the back of no announcement and could be investors taking profit after the shares surged more than 300 per cent so far this year. Bapcor shares gained 1.64 per cent to $3.72 following after tanking nearly 30 per cent to a five-year low on Thursday on the back of its latest earnings forecast. The Autobarn and Midas owner said statutory net profits after tax would lie between $31m-$34m. Specialist alternative investment manager Regal Partners surged 9.02 per cent to $2.90 after announcing a 7 per cent increase in funds under management to $17.7bn. Shares in Newmont also shined, gaining 3.81 per cent to $95.38 after the US gold miner announced a 9 per cent rise in net income for the second quarter and a $4.6bn share buyback program.

ASX falls for third straight session on banks and miners
ASX falls for third straight session on banks and miners

News.com.au

time36 minutes ago

  • News.com.au

ASX falls for third straight session on banks and miners

A slump in the price of iron ore and Australians dumping their bank stocks saw the local market slide for the third straight trading day. The benchmark ASX200 dropped 42.5 points or 0.49 per cent to 8,666.9 points on Friday while the broader All Ordinaries lost 45.10 points or 0.50 per cent to close the week at 8,934.30. Australia's dollar also fell and at the time of writing was buying 65.76 US cents. The falls were broad based with seven of the 11 sectors ending the day in the red, led by the materials, financials and healthcare sector. BHP shares fell 1.92 per cent to $40.80, Fortescue shares dropped 3.42 per cent of $18.35 and Rio Tinto traded down 0.83 per cent to $118.86 on the back of a falling iron ore price. Singapore iron ore futures slumped 1.7 per cent to $103.35. The drop follows investors fear of an oversupply of the commodity. The big four banks continued their sell-off with CBA down 0.35 per cent to $172.87, NAB down 0.40 per cent to $37.51, Westpac slumping 0.78 per cent to $33.03 and ANZ down 0.72 per cent to $30.22. Market heavyweight CSL also fell 0.61 per cent to $267.92, while Sigma Healthcare lost 0.70 per cent to $2.84 and Cochlear slid 0.38 per cent to $312.83. AMP chief economist and head of investment strategy Shane Oliver said the Australian market fell during the week even though Wall Street continued to reset record highs. 'Resources and health stocks rose but this was more than offset by falls in consumer and financial shares, with CBA coming under after it nearly doubled in price over two years,' he said. Dr Oliver said the Australian sharemarket was still on track for a solid July up 1.4 per cent so far although the gains could be short lived. 'With lots of good news already factored in and valuations stretched, markets are a bit vulnerable to a correction over the seasonally weaker months of August and September with a long worry list,' he said. Shares in anti-drone technology business DroneShield slumped 10.09 per cent to $3.03. This was on the back of no announcement and could be investors taking profit after the shares surged more than 300 per cent so far this year. Bapcor shares gained 1.64 per cent to $3.72 following after tanking nearly 30 per cent to a five-year low on Thursday on the back of its latest earnings forecast. The Autobarn and Midas owner said statutory net profits after tax would lie between $31m-$34m. Specialist alternative investment manager Regal Partners surged 9.02 per cent to $2.90 after announcing a 7 per cent increase in funds under management to $17.7bn. Shares in Newmont also shined, gaining 3.81 per cent to $95.38 after the US gold miner announced a 9 per cent rise in net income for the second quarter and a $4.6bn share buyback program.

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