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Australian stocks fell as banks weighed on the market with the All Ords down 27.2 points or 0.5% to 5822.3.
() dropped 3.7% to $90.00 while ANZ Bank (ASX:ANZ) was down 2.7% to $34.91.
However () crept up 0.2% to $37.56 while () is up 0.1% to $37.67
Market action here…
Despite the fall in the overall market a number of companies marked gains of 10% of more.
Imugene () gained 12.5% to $0.009.
The company is preparing to initiate this year the clinical program for its Her-Vaxx peptide vaccine a B-cell based immunotherapy for HER-2 positive gastric &; breast cancer.
Her-Vaxx has potential to improve upon Roche’s blockbuster Herceptin drug that generated annualised sales of $6.9 billion and targets the same biomarker.
It was developed by one of Europe’s leading cancer institutes with about $10 million already invested in the technology.
() rose 13.3% to $0.17.
It continues to advance its Merelani-Arusha graphite project in Tanzania and also developments with the Merelani Block C negotiations.
The project is located in a world-class graphite province with a MoU signed to provide access to strategic graphite rights.
Outlining the potential at Merelani East drilling results encountered graphite mineralisation consistent with and potentially larger than mineralisation that occurs at the adjacent Block C graphite mine.
() is up 13.3% to $0.051 while () is up 10.4% to $0.16.
Blue chip stocks
Major miners
() down 0.3% to $32.47
() down 4.9% to $2.55
Newcrest () up 1.4% to $13.82
(ASX:RIO) down 0.2% to $63.40
Oil and Gas
Oil Search () up 0.6% to $8.40
() up 1.4% to $8.19
() down 1.1% to $34.78
Other banks financials and industrials
() up 0.2% to $6.40
() down 0.5% to $14.07
Bendigo and Adelaide Bank () down 1.7% to $13.50
() up 3.5% to $70.90
Suncorp () down 0.1% to $14.66
() flat at $6.58
Retailers
JB Hi-FI () down 0.9% to $17.01
() up 1.1% to $45.25
Woolworths () up 0.6% to $32.81
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