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Wealth manager Insignia Financial saw its share price jump 14 per cent-plus on Monday after receiving a $2.9bn bid for the firm, less than a month after Insignia rejected a lower offer from Bain Capital.

Meanwhile, gold explorer Bellevue shed 14 per cent after slashing production guidance, raising concerns about the company's ability to meet targets.

And the troubled Whyalla steelworks, owned by Sanjeev Gupta's GFG Alliance, has produced its first steel in four months, though the company has conceded many hurdles remain.