ASX market movers: Immutep, ALS Ltd
The 10 biggest movers on the ASX today.
Standout performers on the ASX Wednesday 26 May 2021
Immutep and ALS Ltd were the two best performing stocks on the Australian Securities Exchange (ASX) Wednesday, jumping more than 12% by the end of the session.
That's as the benchmark S&P/ASX200 index fell 0.32%, weighed by mining stocks and an unimpressive session on Wall Street overnight. Australian mining giants BHP (ASX: BHP), Rio Tinto and Fortescue Metals Group (ASX: FMG) fell more than 2% Wednesday. You can find out more about that here.
Immutep (IMM) was the standout mover on the ASX today. Shares in Immutep rose 13.6% to $0.67.
"It's the second time in a week Immutep has been one of the two top ASX performers," said Finder's investments editor Kylie Purcell.
Immutep is a biotechnology company in the pharmaceuticals and life sciences sector. It's particularly focused on the treatment of cancer.
"Biotechnology stocks have lifting across the board in recent weeks. However, today's stock rally came off the back of an important company update."
"Immutep has been granted a new patent for combined cancer treatments by Chinese authorities that's not due to expire until 2034. This update solidifies Immutep's long-term position in the all important Chinese market, a key play for any healthcare company."
Learn more about investing in Immutep in Finder's full guide.
Another strong performer was ALS Ltd (ALQ), a commercial and professional services company involved in global testing and certification.
It rose 12.9% to close at $12.31.
"The ALS share price rose after the company released its full year profit report showing a net profit of $185.9 million. While that's slightly down from the year prior, it's a better than expected result following a weak first half," said Purcell.
"Investors will also be pleased with the lift to its upcoming dividend. The company reported a final franked (70%) dividend of 14.6 cents per, leading to a total dividend of 23.1 cents. That's 30% higher than the year before."
Learn more about investing in ALS in Finder's full guide.
Here's the full list of today's 10 biggest movers.
|Ive Group (IGL)||$1.39||12.1%|
|Ppk Group (PPK)||$13.41||9.0%|
|Chalice Mining (CHN)||$8.77||7.9%|
|Ama Group (AMA)||$0.57||7.5%|
|Capricorn Metals (CMM)||$1.90||6.7%|
Market indicators Wednesday 26 May 2021
Overall, the S&P/ASX200 closed down Wednesday, dropping 9 points (-0.13%) to 7105.9.
Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to market close. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated at the end of the day, but these prices may be subject to minor variation depending on data availability.
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