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Three big movers 22nd March, 2022; ResApp soared 35% on positive results, A2 Milks shares hit by competitor product launch, New Hope Corp. rallied on H1 results

The Australian market recovered from Monday’s losses to close 0.86% higher on Tuesday at 7341.10 points as investors piled back into materials, metals and mining stocks. Liontown Resources and BHP were the sessions’ biggest winners, gaining 6.3% and 5.1% respectively.

The stocks that made headlines today were:

ResApp soared as much as 60% today before closing the session up 35.48% after the digital healthcare solutions company announced positive results for a new novel smart-phone based COVID-19 screening test. The results of a pilot clinical trial of 741 patients (466 COVID-19 positive) recruited in the US and India using machine-learning to analyse the sound of a patient’s cough, was found to correctly detect COVID-19 in 92% of people with the infection.

A2 Milk shares took a hit today after ASX-listed rival Bubs Australia announced it is launching ‘Bubs Supreme’ an A2 Beta-casein protein infant formula range with advanced premium formulation, a new direct competitor to A2 Milk’s products. Bubs Australia’s products will be available alongside A2 Milk’s products in Coles from May.

And New Hope Corporation jumped 8.5% today after the coal miner released first half results today including a 325% increase in the company’s interim dividend to 17c/share, underlying EBITDA up 583% to $554m, and a 7% increase in total tonnes sold to 5.1Mt.

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