The ASX 200 finished lower by 0.21% today, following falls on Wall Street overnight.

Local stocks fell despite consumer sentiment remaining positive, with the latest Westpac Consumer Sentiment index showing an increase of 0.6%to 105.3 in November.

Energy and Mining stocks dragged down the broader market, while Financials and Utilities outperformed.

Financials were buoyed mainly by National Australia Bank (ASX:NAB), which surged to a three year high.

NAB shares rose by 4.25% to $30.15 after reporting strong profits yesterday that beat expectations, along with a dividend that was twice as big as last year’s.

Mining stocks were generally lower as the spot iron ore price dropped another 1.5% overnight. It sank even further today, with near dated December futures now trading below US$90/t in Singapore.

Meanwhile, investors are nervously awaiting key US data tonight, with the release of both US inflation and jobless claims due in NY hours.

China already released theirs today, with data showing that consumer inflation grew by 1.75%, the fastest pace since September 2020.

 

BIG CAP WINNERS

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Chalice Mining (ASX:CHN) was again one of the most active stocks today, rising by another 4% to $9.05, following its 28% surge yesterday. Chalice was a small cap explorer in March last year and is now a $3.2bn company sitting on the largest PGE discovery in Australian history.

Women fashion retailer City Chic Collective (ASX:CCX) appointed Peter McClelland as its new Chief Financial Officer. McClelland’s previous roles included CFO and COO of oOh! Media and most recently, CFO of Isentia.

 

BIG CAP LOSERS

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Church management system Pushpay (ASX:PPH) plunged 13% today after downgrading its EBITDA guidance to US$62m-$67m, after its half year EBITDA fell short and only reached US$29.6m.