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Markets in a Minute: ASX 200 dips below 20-day average

Markets in a Minute: ASX 200 dips below 20-day average

The ASX200 had another rough run, shedding nearly a per cent and crossing below its 20-day moving average.

Materials managed to buck the trend, the sector shot up more than a per cent, whilst financials, industrials and healthcare all fell behind and were hit hard - all three shed around 2 per cent.

Green

Elixir Energy shot up after forming a joint venture and completing drilling at Diona-1. The company is also gearing up to drill Lorelle-3 in January using a top-tier rig.

Orthocell also shot up after appointing MontsMed as its exclusive distributor for Remplir™ in Hong Kong, marking its entry into a US$3.5 billion market in Asia.

Red

Strike Energy was down on its quarterly update - which showed an 8% percent drop in production.

Arafura Rare Earths also plunged on its $475 million dollar capital raise. The placement includes a $125 million commitment from Hancock Prospecting and supports funding for its Nolans rare earths project.

#ASX #ASX200 #MarketUpdate #ElixirEnergy #Orthocell #StrikeEnergy #ArafuraRareEarths