The benchmark ASX200 index ended the session down 0.24% today after investors were disappointed with the latest retail sales figures.
The Industrials (-0.93%) and Consumer Staples (-0.81%) sectors were the worst performers, while Utilities gained 0.7%.
Retail sales fail to meet expectations
The Australian Bureau of Statistics reported that Australian retail sales remained resilient, with turnover rising 0.8% in November, although this came in below expectations of a 1.0% gain.
The November 0.8% retail turnover figure follows growth of 0.5% in October and 0.4% in September.
ABS head of business statistics Robert Ewing said, “Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries.
“The popularity of Black Friday sales continues to grow with promotional activity now stretching across the entire month of November, not just solely focused on the Black Friday weekend.”
If consumer spending remains resilient into 2025, the RBA may push back rate cuts.
Star Entertainment sinks
The Star Entertainment Group Ltd has reported a steep decline in cash reserves, compounding its ongoing regulatory and operational challenges. The group revealed available cash of $79 million as of December 31, 2024, a decline of $70 million, or 46%, from the previous quarter's balance of $149 million.
The drop includes the impact of drawing down the first tranche of a new $200 million debt facility, while Star attributed its cash burn to difficult trading conditions, essential capital expenditure and regulatory fines.
Shares of the troubled casino operator fell to a record low and closed down more than 33% on the news.
D3 Energy higher
D3 Energy Ltd (ASX:D3E, OTCQB:DNRGF) was as much as 23.64% higher at a daily high of $0.068 after providing an update earlier this week on its plans to provide a new energy source in South Africa. Another strong small cap mover today was Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF), which rose by 25% to $0.01 while archTIS Ltd increased 11.48% to $0.068.
Other increases among the small caps were Lindian Resources Ltd (ASX:LIN, OTC:LINIF), up by 10.84% to a daily high of $0.092, Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF) hit $0.725, a 9.85% increase on the previous close, FireFly Metals Ltd (ASX:FFM) was 6.87% higher to $0.9725, Orthocell Ltd (ASX:OCC, OTC:ORHHF) maintained its momentum this week, rising 5.99% to $1.505, Polymetals Resources Ltd (ASX:POL) reached $0.92, a move of 6.35%, Tolu Minerals Ltd (ASX:TOK) climbed 6.29% to $0.845 and Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) was up 4.17% to $1.375.
Five at Five
Aurum Resources declares offer for Mako Gold unconditional
Aurum Resources Ltd (ASX:AUE) has declared its off-market takeover offer to acquire all of the ordinary shares in Mako Gold Ltd (ASX:MKG) to be best and final and will not increase the offer consideration.
Livium awarded A$1.7 million in research and development tax incentive rebates for its subsidiaries
Livium Ltd (ASX:LIT, OTC:LMMFF) has picked up research and development (R&D) tax incentive rebates amounting to A$1.7 million from the Australian Tax Office for the 2024 financial year.
St George Mining progresses Araxá niobium and rare earth processing with Brazilian collaboration
St George Mining Ltd (ASX:SGQ) has partnered with local Brazilian agencies in a program to optimise downstream processing of niobium and rare earth elements (REEs) from the company’s high-grade Araxá Project in Minas Gerais, Brazil.
Just the facts: George Bauk appointed to lead Peninsula Energy’s next phase
Proactive's Tylah Tully breaks down ‘Just the Facts’ of the latest news from Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF).
Lunnon Metals executes Mining Agreement with Ngadju Native Title Aboriginal Corporation
In a key step on the development path for the Kambalda Gold & Nickel Project (KGNP) in Western Australia, Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) (Lunnon Metals Ltd (ASX:LM8, OTC:LNMLF) has executed a Mining Agreement with the Ngadju Native Title Aboriginal Corporation RNTBC.
On your six
Outlook 2025: Lithium market recovery boosts ASX opportunities
The lithium market faced a challenging 2024, with prices dropping nearly 25% year-on-year due to oversupply.
One to watch
American Rare Earths secures key license for Halleck Creek project, advancing pilot processing
American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) CEO Chris Gibbs joined Steve Darling from Proactive to announce a significant milestone for the company: its wholly owned US subsidiary, Wyoming Rare Inc., has been granted a License to Explore by Dozing at the Halleck Creek Rare Earths Project in Wyoming.