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ASX 200 falls slightly, miners surge higher

ASX 200
Credit: Cimexus

The S&P/ASX 200 Index (ASX: XJO) dropped slightly by 0.08% to 5,895 points.

ASX miners were the strongest performers today in the ASX 200.

ASX mining industry soars

It was a strong performance by the mining community today.

Gold miners were the top performers with the Silver Lake Resources Limited. (ASX: SLR) share price going up by 8.2%. The Northern Star Resources Ltd (ASX: NST) share price rose by 7.4% and the Perseus Mining Limited (ASX: PRU) share price went up 6.2%.

Other commodity businesses were also top performers. Coal miner New Hope Corporation Limited (ASX: NHC) saw its share price grow by 5.8%. The share price of Perenti Global Ltd (ASX: PRN) went up 5.5%.

However, at the other end of the ASX 200 was the SKYCITY Entertainment Group Limited (ASX: SKC) share price falling by 5%. Other large declines belonged to the Cleanaway Waste Management Ltd (ASX: CWY) share price which fell 4.3% and the Oil Search Limited (ASX: OSH) share price declined 3.4%.

Award win for Mesoblast Limited (ASX: MSB)

ASX 200 biotech business Mesoblast saw its share price rise 3.5% after winning an award.

Mesoblast announced today that its lead product candidate remestemcel-L has been selected as the winner of the Fierce Innovation Awards – Life Sciences Edition 2020.

This award is given to companies that demonstrate innovative solutions, technologies and services that have the potential to make the biggest impact for biotech and pharma companies. The applications were reviewed by a panel of executives from a variety of major biotech and pharma companies including Astellas, Accenture, AstraZeneca, Angiocrine Bioscience, Biotech Research Group, NIHR Clinicals Research Network, Medidata Solutions and PPD.

Mesoblast chief executive Dr Silviu Itescu said: “This important award is recognition of Mesoblast’s leadership as an innovator in the cell therapy industry, and of the potential for remestemcel-L to profoundly impact the lives of children suffering with steroid-refractory acute graft versus host disease.”

Electro Optic Systems Hldg Ltd (ASX: EOS)

The Electro Optic Systems share price went up almost 9% today after announcing a contract win.

It has secured two contracts totalling AU$4.25 million for the supply of R400 remote weapon systems to a European NATO country.

A number of these systems are optimised for integration onto remotely operated combat vehicles and include the remote control units to operate the systems. Both contracts will be delivered this calendar year.

Electro Optic Systems remote weapon systems products are well suited to the emerging market for remotely operated combat vehicles because of their market leading accuracy, reliability and light weight.

The company said it’s participating in a number of tender opportunities for remotely operated combat vehicles capabilities across multiple countries with a sales pipeline in excess of $1 billion. Management said that major awards are possible in the next 12 months.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel Pharmaceuticals share price went up 4% today after announcing that the first patient has been dosed with Scenesse DNA repair program. The company is running to clinical program focusing initially on xeroderma pigmentosum (XP).

Clinuvel clinical operations manager Dr Pilar Bilbao said: “We seek to provide meaningful benefit to XP patients, and these results will serve a wider population of fair-skinned individuals at risk of developing skin cancers. The next 12 months will be exciting for many patients, their families, the clinical experts and our own teams.”

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited and Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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