The Australian market fell from Monday?s highs to close Tuesday?s session 0.73% lower at 7097.40 points as sharp sell-offs for gold miners, metals and mining, and resources stocks weighed down the key index. Investors are growing increasingly concerned of the potential impacts on growth forecasts that may follow from China?s renewed COVID-19 lockdowns especially on the commodities front.
The stocks that made headlines today were:
Uniti Group shares soared 28.6% today after the telecommunications products and services provider confirmed it is in exclusive discussions with HRL Morrison & Co. for the potential acquisition of Uniti Group for an indicative price of $4.50 cash per share. The talks are preliminary, non-binding, highly conditioned and uncertain as to the outcome at this stage.
Clinuvel Pharmaceuticals lifted almost 7% today following the release of positive preliminary results for the company?s pilot study of afamelanotide (AF-AMEL-ANO-TIDE) on six adult patients with arterial ischaemic (IS-KEE-MIC) stroke who were ineligible to receive standard treatment.
And Pushpay rallied 4.6% today after the charity donor management system reconfirmed and narrowed its guidance for the 2022 financial year to expect EBITDAFI between $61.5m and $63.5m in FY22.