ASX Market Update: Index breaks losing streak as Fortescue snaps up Red Hawk | February 4, 2025

ASX News Market Summary
04 Feb 2025 13:50 (AEDT)

The ASX200 has been up 0.5% at 8,430 points.

The local bourse has bounced back and broken a multi-day losing streak. The Aussie dollar has climbed back to US$0.62 after collapsing below 61 cents on Monday.

IT was the best performing sector, 1.6%, followed by Materials, up 0.8%, and Financials, up 0.6%. Utilities was the worst performer, followed by Real Estate, Energy, and Telecommunication – all down 0.2%.

Company News

Fortescue (ASX:FMG) has been up 1.4% on news it now holds a majority 66% stake in Red Hawk Mining (ASX:RHK). The offer is to purchase up to 100% of Red Hawk’s shares.

Fortescue has been $18.55 and Red Hawk has been $1.19.

Pro Medicus (ASX:PME) has been up 4.3% after its Visage Imaging business inked a seven-year contract with BayCare, the leading health care system in the Tampa Bay and central Florida regions of the U.S.

Pro Medicus has been $281.59.

Predictive Discovery (ASX: PDI) has been up 8.5% after Canada’s high-profile Lundin family and China’s Zijin Mining Group invested $69.2 million into its flagship Bankan gold project in West Africa.

Predictive Discovery has been 29 cents.


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