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Materials stocks carry ASX to gain; Brambles tumbles

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The S&P/ASX 200 Index rose 0.3 per cent to 7112.5 points. Brambles declined 7.6 per cent to $10.72, Havilah Resources rocketed 79 per cent higher to 30.5¢.

Nickel Mines rose 3 per cent to $1.19 after it signed a binding term sheet with Singapore-based power producer Quantum Power Asia for the implementation of a 220 megawatt peak solar project.Westpac’s plan to improve risk culture, governance, and accountability is on track, says Promontory Australia, which noted that Westpac needs to stay the course to complete its three-year customer outcomes and risk excellence agenda; it rose 0.3 per cent to $24.46.

The foreign exchange business reported full-year 2022 NOI growth of 25 per cent to $147 million, and 53 per cent growth in underlying earnings to $44.5 million. Statutory net profit more than doubled to $24.5 million.United Malt Group fell 1.5 per cent to $3.96 having confirmed its earnings guidance for the full year, with underlying EBITDA expected to be in the range of $115 million to $140 million.

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