The S&P/ASX 200 (ASX: XJO) weakened throughout the day to finish slightly lower than it started on Tuesday.
The majority of the weakness came from the energy, down 0.6%, and real estate sectors, down 0.9%. Woodside Petroleum Limited (ASX: WPL) and GPT Group (ASX: GPT) were among the hardest hit, falling over 1% each.
The ASX mining sector, including BHP Group Ltd (ASX: BHP), gained after Chinese exports jumped significantly more than expected, up 32% in June, quickening from a 28% annual growth rate in May.
Nearmap upgrades guidance
Shares in Nearmap Ltd (ASX: NEA) continued to fight back against an earlier shorting attack with the company upgrading its profit result for the financial year.
Nearmap confirmed its annual contract value would be $133.8 million, ahead of the $132 million estimated just a few weeks ago. The Nearmap share price jumped 14.4% in response.
Youfoodz share price rockets
Shares in small-cap prepared meals group Youfoodz Holdings Ltd (ASX: YFZ) surged 77.5% to 90 cents per share after global competitor HelloFresh (ETR: EFG) lobbed a $125.3 million takeover bid.
Youfoodz shares remain well below their $1.50 IPO price, likely leaving many shareholders underwhelmed.
Platinum takes a hit
Platinum Asset Management Ltd (ASX: PTM) was the worst among the large caps, dropping 8.3% after reporting assets under management had dropped by just $167 million to $23.5 billion.
Meanwhile, shares in competitor Magellan Financial Group Ltd (ASX: MFG) gained 2.5%.
iCar Asia under offer
Online car trading business iCar Asia Ltd (ASX: ICQ), which operates in South East Asia, jumped 60% after receiving a 55 cent per share takeover offer from Carsome Group.
This is 10% ahead of the offer received in October last year.
Almonds going nuts
Almond producer Select Harvests Limited (ASX: SHV) is benefitting from the growing drought across California.
Select Harvest, the world’s largest producer of almonds, delivered a market update announcing almond shipments to date are up 21.7% with forward commitments 34% ahead.
Management noted this was an ‘unprecedented pace’ with shipment records being set in 10 of the 11 months to date.
Adding to this has been a price spike of 5–10%. Select Harvest shares finished 16% higher on the news.
Plenti of growth
Personal lender Plenti Group Ltd (ASX: PLT), an investment in the Federation strategy, jumped 11.9% after reporting $83 million loan originations in June, a $1 billion annual run rate by comparison.
The loan book has increased to $757 million, 96% above 2020 and 23% above the March quarter.
ASX 200 today
The ASX 200 is tipped to open broadly flat on Wednesday, following a weak lead from US markets overnight. For all the latest, check out today’s US market report.