The Australian market?s green run came to an end on Thursday, closing the session 0.2% lower at 7499.6 points taking lead from a turbulent session on Wall St overnight. Locally, a sell-off in tech and utilities stocks weighed on the markets.
The stocks that made headlines today were:
Talga Group as the battery and advanced materials company surged over 20% today after announcing it has successfully been commissioned and is now operating its Electric Vehicle Anode qualification plant in northern Sweden to supply coated anode for battery customer qualification. The EVA is understood to be Europe?s first Li-ion battery anode plant.
Tabcorp shares jumped 3% today after the online gambling giant provided an update on its proposed demerger of The Lottery Corporation, explaining that Tabcorp?s lotteries and Keno business will be demerged into a separate ASX-listed company with eligible shareholders retaining current existing shares in Tabcorp and receiving one TLC share for each Tabcorp share held at the record date on the 25th of May 2022.
And Air New Zealand shares plunged 6.25% today after the airline announced NZ$1.2bn capital raise, with new shares offered at a discount of around 62% on the airline?s previous close as part of a rights offer. The capital raised will be used to repay a loan from Crown, improve liquidity and position the airline for recovery post pandemic.