ASX rises as Boss Energy surges

The news: The Australian sharemarket reversed early losses as it ended higher as uranium miners rallied.

The benchmark ASX 200 gained 0.18% to end at 8,300.2, with six out of 11 sectors finishing in green.

Biggest movers:

• Uranium miners — Boss Energy (7.34%), Deep Yellow (7.02%)and Paladin Energy (5.49%) were some of the best performers as Russia imposed temporary restrictions on the export of enriched uranium to the US.
• Life360 (-6.73%) — Its CEO Chris Hulls has sold 1.2% of company’s shares to diversify his personal wealth.
• Resolute Mining (-5.59%) — Agreed to pay $250 million to the Malian government as it continues to negotiate the future of its operations in Mali along with the release of its detained CEO and two other employees.

Other news:

• New Hope (2.34%) — Notched improvements in sales and prices during the October quarter as logistical disruptions at its Bengalla mine in New South Wales eased.
• Elders (halted) — Announced it is acquiring agriculture company Delta Agribusiness for $475 million and has launched a capital raise to fund the purchase.
• NAB (-0.15%) — ASIC has sued the bank for failing to respond to customers who applied for financial hardship support with the 21-day timeframe required by law.
• Cettire (-4.04%) — Citi analysts initiated coverage of the company with a ‘sell’ rating due to increased competition and the end of the luxury boom.
• Lovisa (-3.78%) — Citi downgraded its rating on the jewellery retailer to ‘sell’ on the back of slower-than-expected store rollouts and the emergence of new rival Harli + Harpa.
• Healthcare stocks — CSL (-1.65%), Neuren Pharmaceuticals (-6.46%) Sigma Healthcare (-2.93%) and Telix Pharmaceuticals (-0.52%) all fell, tracking similar healthcare falls on Wall Street after vocal vaccine sceptic Robert F. Kennedy Jr. was picked to lead the US health department.