You might be interested in
News
ASX Large Caps: ASX gains more ground as AGL reports massive quarter, News Corp surprises
News
ASX Large Caps: ASX climbs again as IRESS jumps 16pc, Cettire down 10pc as big shareholder dumps stock
News
News
Local shares tumbled by over 0.3% on Wednesday as banks, mining and energy stocks dragged the ASX 200 index lower.
The four big bank stocks fell around 0.5% to 1%, while energy and mining stocks slipped after Chinese data missed expectations.
The China Caixin services manufacturing PMI came in at 53.9, its sixth consecutive month of expansion, but had missed analysts’ expectations of 56.2.
The worst performing large stock today was AMP (ASX:AMP), which slumped 5% after warning that it may face a large legal bill following a decision in the Federal Court (more detail below).
Stocks to have hit 12-month highs today include AGL Energy (ASX:AGL) and Canadian based Patriot Battery Metals (ASX:PMT).
PMT said that testwork followed by magnetic separation produced 6+% Li2O spodumene concentrates at overall lithium recoveries exceeding 70%.
Elsewhere, the 2yr vs 10yr US Treasury yields spread is at its most inverted level since 1981 as traders priced in further Federal policy tightening.
The spread, which is now at 11 basis points (2y yield above 10y), is a closely watched barometer of recession risk.
Swipe or scroll to reveal the full table. Click headings to sort.
Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
MCY | Mercury NZ Limited | 6.07 | 5.20 | 3,179 | $8,001,794,917 |
ELD | Elders Limited | 7.15 | 4.00 | 1,246,662 | $1,074,994,063 |
LIC | Lifestyle Communit. | 17.14 | 3.25 | 128,800 | $1,735,449,174 |
SEK | Seek Limited | 22.45 | 2.98 | 672,072 | $7,765,600,142 |
BGL | Bellevue Gold Ltd | 1.39 | 2.97 | 5,149,652 | $1,520,091,466 |
CTT | Cettire | 3.46 | 2.67 | 1,025,189 | $1,284,772,801 |
DEG | De Grey Mining | 1.41 | 2.17 | 1,531,402 | $2,154,410,342 |
ZIM | Zimplats Holding Ltd | 24.71 | 2.11 | 8,273 | $2,604,831,105 |
JDO | Judo Cap Holdings | 1.24 | 2.07 | 553,447 | $1,337,679,045 |
LOV | Lovisa Holdings Ltd | 20.35 | 2.01 | 193,641 | $2,151,245,666 |
Bellevue Gold (ASX:BGL) rose after disclosing that it has signed an agreement with a wholly owned subsidiary of Genesis Minerals (ASX: GMD) under which Genesis will process material from the Bellevue Gold Mine, predominantly from the Vanguard open pit.
This toll treating agreement will see Vanguard ore processed at Genesis’s Gwalia processing facility, approximately 170km south of the Bellevue Gold Mine via the sealed Goldfields Highway. This will enable Bellevue to generate early cash flow in the September quarter ahead of scheduled processing at the Bellevue Gold Mine processing plant in the December quarter.
Swipe or scroll to reveal the full table. Click headings to sort.
Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
AMP | AMP Limited | 1.08 | -5.04 | 21,946,823 | $3,218,818,150 |
NIC | Nickel Industries | 0.91 | -2.94 | 7,644,103 | $2,827,680,550 |
GNC | GrainCorp Limited | 7.82 | -2.74 | 390,666 | $1,803,669,456 |
NWL | Netwealth Group | 13.87 | -2.67 | 310,162 | $3,475,448,075 |
IFL | Insignia Financial | 2.86 | -2.39 | 719,176 | $1,941,412,849 |
TLX | Telix Pharmaceutical | 10.94 | -2.32 | 280,608 | $3,567,840,618 |
SMR | Stanmore Resources | 2.53 | -2.32 | 610,144 | $2,334,604,332 |
PME | Pro Medicus Limited | 64.17 | -2.30 | 44,561 | $6,859,110,377 |
PRU | Perseus Mining Ltd | 1.71 | -2.29 | 2,562,860 | $2,387,137,053 |
MAD | Mader Group Limited | 5.61 | -2.26 | 32,523 | $1,148,000,000 |
RMS | Ramelius Resources | 1.31 | -1.88 | 2,337,949 | $1,318,426,577 |
WTC | Wisetech Global Ltd | 76.29 | -1.88 | 150,475 | $25,801,851,816 |
BFL | Bsp Financial Group | 4.80 | -1.84 | 7,177 | $2,284,705,697 |
AMP Ltd (ASX:AMP) fell after acknowledging today’s decision in the Federal Court in relation to proceedings brought on behalf of advice practices authorised by AMP Financial Planning as of 8 August 2019.
The proceedings challenged the validity of some of the changes made by AMPFP to its Buyer of Last Resort (BOLR) policy in August 2019. The Court has today ruled in favour of the claims of the lead applicant and sample group member.
The Court accepted evidence of the loss incurred by the two group members, being the lead applicant (Equity Financial Planners – $813,560) and the sample group member (Wealthstone – $115,533). The Court determined amounts payable to the lead applicant and the sample group member only.
Noting the complexity of the matter, AMP says it is reviewing the judgment in detail to determine the full effect of the judgment and its next steps.