The benchmark S&P/ASX200 on Thursday finished three-tenths of a point lower at 7,769.4, while the broader All Ordinaries gained 1.6 points at 8,012.1.
US equity and bond markets were closed overnight for the Juneteenth holiday, keeping the ASX somewhat directionless.
But Mexican-themed restaurant chain Guzman y Gomez made a strong debut on the bourse at noon, with its shares finishing at $30, up 36.4 per cent from their $22 issue price.
The $335.1 million float - upsized from an initial public offering of $242.5 million - is the ASX's biggest in three years, with the surging share price giving the 210-restaurant chain a market capitalisation of more than $3 billion.
— Greg Lipschitz (@glipschitz) @guzmanygomez Shareholders be like #gyg $gyg $gyg.asx pic.twitter.com/NNT86zwFaiJune 20, 2024 The Guzman y Guzman float was polarising on social media.
Overall, four of the ASX's 11 sectors finished higher, four were lower and three were basically flat.
Health care was the biggest mover, dropping 1.0 per cent as Cochlear fell 4.8 per cent to a three-week low of $315.01.
There was no immediately obvious reason for the sell-off, Cochlear's biggest daily loss since February 6.
Helia Group was the biggest ASX200 gainer, rising 16.2 per cent to $3.88 after a major sell-off on Wednesday prompted by uncertainty over a major contract renewal for the mortgage lenders insurance provider.
Commonwealth Bank was the leader among the four big banks, rising 0.6 per cent to $127.75.
Westpac followed with a 0.5 per cent rise to $27.25, while ANZ added 0.2 per cent to $29.19 and NAB edged 0.1 per cent higher at $36.19.
In the heavyweight mining sector, BHP was flat at $42.75, while Fortescue added 0.2 per cent to $21.90 and Rio Tinto climbed 0.4 per cent to $119.67.
Uranium miners gave back some of their Wednesday gains that came after the Coalition detailed its pro-nuclear policy, with Deep Yellow and Paladin Energy both dropping 1.7 per cent and Boss Energy dipping 1.0 per cent.
Pharmaceutical company Botanix was in a trading halt as it announced it had obtained US approval for its topical gel designed to treat excessive underarm sweating.
Botanix said Sofdra is the first new chemical to treat the socially challenging medical condition known as primary axillary hyperhidrosis, with CEO Dr Howie McKibbon calling the approval transformative for his company.
In foreign exchange, one Australian dollar was buying 66.67 US cents, down slightly 66.72 US cents at Wednesday's ASX close.
It had hit a fresh nearly 17-year high against the yen, having appreciated nearly 10 per cent against Japan's struggling national currency so far this year.
ON THE ASX:
* The benchmark S&P/ASX200 index on Thursday dropped 8.4 points, or 0.11 per cent, to 7,769.7.
* The broader All Ordinaries fell 5.3 points, or 0.07 per cent, to 8,010.5.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 66.70 US cents, from 66.71 US cents at Wednesday's ASX close
* 105.48 Japanese yen, from 105.27 Japanese yen
* 62.10 euro cents, from 62.12 euro cents
* 52.47 British pence, unchanged
* 108.78 NZ cents, from 108.69 NZ cents
