ASX ends lower as tech extends selloff, coal miners rally
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The news: The Australian sharemarket closed marginally lower as tech stocks led losses for the second consecutive session, while energy companies paced gains.
The benchmark ASX 200 index fell 0.11% to 8,516.3 with seven of the 11 sectoral indices in negative territory.
Biggest movers:
- NextDC (-7.9%) — Scrapped plans to raise $500 million from the bond market, according to an AFR report.
- Whitehaven (+4.9%) — Led gains in the energy sector, with fellow gold miner New Hope (+4%) also rallying.
Executive moves:
- ANZ (-0.4%) — Appointed Michael Peric and Trevor Vail as co-managing directors of its markets division, reporting to institutional group executive Mark Whelan.
- Suncorp (+0.1%) — Promoted CFO Jeremy Robson to acting CEO as Steve Johnson takes temporary leave to recover from a medical procedure.
- Coronado Global Resources (+1.6%) — Chief executive Douglas Thompson has resigned, effective 31 March. The board has appointed executive chair and former CEO Gerry Spindler as an interim replacement.
Other news:
- Valiant Gold (+20%) — Listed on the ASX with a $75 million raise after spinning out of Westgold Resources.
- BlueScope (-0.4%) — Said it is accelerating its program to deliver value from its industrial land portfolio through a mix of leases, partnerships and outright sales, with a number of initiatives now underway.
- 4DMedical (flat) — Received certification to commercialise its flagship imaging software CT:VQ in the EU and announced an $83 million private placement to fund the expansion into Europe.
