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The ASX200 is trading up about .6 of a per cent this morning with all sectors making gains.
It’s holding up amidst some wider global geopolitical worries. The simmering issues of blockages in the Suez Canal and the Red Sea are expected to impact inflation by increasing the cost of shipping goods around the world.
However, The People’s Bank of China (PBOC) kept its interest rates at historic lows today, the loan prime interest rate is on hold at 3.45 per cent – and the five-year rate affecting mortgages is at 4.2 per cent.
Lithium and boron producer Allkem (ASX:AKE) has had a rollercoaster this morning – up and then down after Livent shareholders approved the company’s merger with Allkem.
Nearly 90 per cent of Allkem shareholders also supported the $14.35 billion merger deal.
Allkem will delist from the S&P/ASX200 and will be replaced by Arcadium Lithium plc CDIs (ASX:LTM) before open on Friday.
AKE has been trading at $10.57.
Digital property settlements platform Pexa Group (ASX:PXA) has shed nearly 12 per cent off the back of a trading update flagging uncertainties both its Australian and UK markets.
Pexa Group says it now sees business revenue for FY24 at best being below A$220 (219.57) million.
Pexa also confirmed today the completion of its acquisition of UK-based conveyancing technology provider Smoove.
PXA has been trading at $10.96.
And mineral explorer Nordic Nickle (ASX:NNL) is up more than 10 per cent on drilling results from its Pulju project in northern Finland.
It delivered its widest higher-grade nickel zone reported so far after drilling 28 holes.
Results included more than 90 metres at 0.22 per cent nickel from a depth of just 1.6 metres.
NNL has been trading at 16 cents.
