- The ASX is up 0.50% with Energy leading the way
- Energy stocks gain as coal plays led again
- The European Central Bank (ECB) will announce its rates decision today
Aussie shares rose half a percent on Thursday to a 6-week high, with all sectors rising except for Financials.
Energy led, with coal stocks catching bids once again.
Energy prices had moved higher overnight as traders try to price in a China recovery. Crude prices also extended gains after the US EIA crude oil inventory report showed that exports surged to a record high.
“Crude production is anchored and that probably will remain the case unless the oil giants signal major investments in capex,” said OANDA analyst Edward Moya.
Prices of thermal coal have shot to new highs following the start of the conflict in Ukraine, reaching record levels upward of US$460 from below US$200 a tonne just a year ago.
In yet another cyber incident, Australian Clinical Labs Limited (ASX: ACL) said it has experienced a cyber breach involving personal information of some of its patients and staff.
More than 17,500 individual medical and health records, along with 28,000 credit card numbers and 128,600 Medicare numbers were vulnerable, ACL said.
“To date, there is no evidence of misuse of any of the information or any demand made of Medlab or ACL,” the company’s statement added.
The ANZ Bank (ASX:ANZ) meanwhile slipped almost 4% despite beating profit expectations in its full year results.
The bank has reported a 5% increase in cash profit to $6.5 billion, and a 16% statutory profit after tax of $6.51 billion for FY22.
Westpac (ASX:WBC) and NAB (ASX:NAB) also dragged the Financial sector lower today.
Meanwhile, it will be a crucial session on Wall St tonight full of critical data releases.
The ECB will announce its interest rates decision, while the US will release its GDP for Q3 along with initial job claims.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| RRL | Regis Resources | 1.5675 | 7% | 5,546,232 | $1,102,337,851 |
| SFR | Sandfire Resources | 3.65 | 6% | 3,829,634 | $1,406,922,915 |
| PNV | Polynovo Limited | 1.995 | 6% | 1,433,857 | $1,240,665,083 |
| NIC | Nickel Industries | 0.7525 | 6% | 7,590,705 | $1,939,204,183 |
| LYC | Lynas Rare Earths | 8.345 | 6% | 6,129,341 | $7,150,075,199 |
| GOR | Gold Road Res Ltd | 1.435 | 6% | 3,076,473 | $1,463,267,925 |
| CIA | Champion Iron Ltd | 5.27 | 5% | 1,164,012 | $2,585,965,630 |
| PRU | Perseus Mining Ltd | 1.87 | 5% | 4,844,794 | $2,436,864,511 |
| EVN | Evolution Mining Ltd | 2.095 | 5% | 11,445,450 | $3,669,828,270 |
| BLD | Boral Limited | 2.775 | 5% | 1,577,992 | $2,923,184,310 |
| NST | Northern Star | 8.95 | 5% | 6,697,186 | $9,923,583,758 |
| CMM | Capricorn Metals | 3.425 | 4% | 518,371 | $1,226,474,607 |
| WAF | West African Res Ltd | 1.09 | 4% | 1,672,003 | $1,067,052,513 |
| IMU | Imugene Limited | 0.1875 | 4% | 11,712,756 | $1,130,308,847 |
| IRE | IRESS Limited | 9.915 | 4% | 424,376 | $1,764,506,848 |
| PXA | Pexagroup | 15.02 | 4% | 92,965 | $2,558,811,121 |
| AWC | Alumina Limited | 1.3875 | 4% | 7,206,695 | $3,873,744,692 |
| SYA | Sayona Mining Ltd | 0.265 | 4% | 50,320,393 | $2,119,178,285 |
South32 (ASX:S32) rose 3% as CEO Graham Kerr said the company was well positioned for the green future.
“We are well-placed to capitalise on the increasing demand for the commodities needed as the world transitions to a low-carbon future,” Kerr said at the AGM.
Plumbing supplier Reece (ASX:REH) was up 2% after announcing its Q1 FY23 sales update. Reece said it achieved sales revenue of $2.28b for the first quarter, up 28.8% on the same period last year.
JB Hi-Fi (ASX:JBH) rose 0.5% after reporting sales growth of 14.6% (Q1 FY22: -7.5%).
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| RBD | Restaurant Brands NZ | 10.78 | -10% | 60 | $1,493,359,520 |
| ILU | Iluka Resources | 8.79 | -6% | 4,109,522 | $3,973,115,612 |
| CXO | Core Lithium | 1.3825 | -5% | 54,873,530 | $2,669,227,620 |
| BOQ | Bank of Queensland. | 7.365 | -4% | 3,915,205 | $4,984,652,588 |
| ANZ | ANZ Banking Grp Ltd | 24.91 | -4% | 14,862,798 | $77,259,629,726 |
| PNI | Pinnacle Investment | 8.13 | -3% | 486,916 | $1,681,224,800 |
| TLX | Telix Pharmaceutical | 6.94 | -3% | 952,844 | $2,232,459,612 |
| 360 | Life360 Inc. | 6.4 | -3% | 1,095,929 | $1,227,627,633 |
| IFL | Insignia Financial | 3.09 | -2% | 1,624,177 | $2,074,018,896 |
| MGR | Mirvac Group | 1.9625 | -2% | 4,284,610 | $7,891,720,434 |
| MGF | Magellan Global Fund | 1.33 | -2% | 1,295,334 | $2,022,122,134 |
Restaurant Brands NZ (ASX:RBD), the owner of quick service and takeaway restaurant concepts, dropped 10% on no particular news.
The company did release its Q3 update yesterday in which it reported a 32.3% increase to to $322.2 million.
RBD said sales have recovered from the impacts of the 2021 COVID- 19 restrictions in New Zealand and Australia.