ASX ends lower as gold and uranium miners tumble
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The news: The Australian sharemarket ended lower as gold and uranium miners sold-off. The benchmark ASX 200 index fell 0.24% to 8,604.2 with four of the 11 sectoral indices in negative territory.
Biggest movers:
- Paladin Energy (-8.8%) — Ended as the worst performer as fellow uranium stocks Deep Yellow (-7.6%) and NexGen Energy (-6.2%) also slumped.
- Emerald Resources (-9.0%) — Led a sell-off in gold producers, with Catalyst Metals (-5.8%), Greatland Resources (-5.4%) and Resolute Mining (-5.3%) among the worst hit.
Deal news:
- James Hardie (-2.4%) — Has been served with a class action lawsuit by shareholders who claim the building materials group breached the Corporations Act over financial forecasts issued in 2025.
- oOh!media (+9.6%) — Confirmed it has received a conditional non-binding indicative offer “from Bain Capital and other financial sponsors”, with terms consistent with those made by rival suitor I Squared Capital.
- Qube (+0.4%) — Said its proposed $5.20-a-share takeover by Macquarie is progressing after the bidder secured approval from the PNG competition regulator and received the third-party consents required to complete the transaction.
People moves:
- L1 Group (-0.5%) — Appointed former FleetPartners and UBS executive James Allaway as its new chief financial officer, succeeding Andrew Stannard, effective September.
- Bapcor (+4.8%) — Named Bank of Queensland chair Andrew Fraser as a new non-executive independent director, effective 1 July.
