Market report December 3: ASX gains as healthcare leads and Star Entertainment Group surges

Proactive’s Tylah Tully provides a market wrap for December 3.

The ASX closed 0.63% higher at 8,500.9 points, marking a 1.69% gain over the past five days and nearing its 52-week high.

The top-performing stock was Star Entertainment Group, which surged 9.52% following its announcement of a new $200 million debt facility split into two $100 million tranches.

In contrast, Northern Star Resources dropped 3.13% to $16.07 per share after revealing its acquisition plans for De Grey Mining, which will expand the company’s mineral resources to more than 74 million ounces and ore reserves to 26 million ounces.

Sector performance was largely positive, with healthcare leading at 1.33% growth, followed by consumer discretionary at 1.21%. Utilities underperformed, declining by 0.51%.

European Lithium Ltd was up to 36.96% higher today to $0.063 and received a 'speeding ticket' from the ASX, which asked the company to explain the recent price movements and increased volume.

Other strong small cap sector moves came for Kali Metals Ltd, which was as much as 17.39% higher to $0.135, AuMega Metals Ltd increased by 16.22% to a daily high of $0.043 and Yandal Resources Ltd hit $0.24, a rise of 14.29% on the previous close.

Also moving higher were Prescient Therapeutics Ltd, rising 7.69% to $0.042, Magnetite Mines Ltd up 7.41% to $0.145, Recce Pharmaceuticals Ltd, which was up to 6.98% higher to $0.46, Empire Energy Group Ltd hit $0.23, a rise of 4.55%, Tamboran Resources Corp was as much as 3.85% higher to $0.135 and Latin Resources reached $0.175, an increase of 2.95%.

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