Local shares were up 1.17% today as investors digested live comments from RBA’s governor Dr. Philip Lowe, who was speaking at the National Press Club.

Australia’s central bank boss hinted that he might start raising rates in 2023, consistent with a growth in wages that’s expected to hit 3% next year.

Asked by journos if a rate hike in 2022 is possible, Dr Lowe said it’s possible but unlikely.

“We’ll be looking for further evidence that labour costs are growing at a rate consistent with inflation being sustained within the target range,” Dr Lowe said.

“We expect this evidence to emerge over time, but it is unlikely to do so quickly.”

All sectors except Utilities rose following the speech, with Energy and Mining leading the pack and rising by 2.7% and 1.6% respectively.

The  benchmark ASX 200 meanwhile is down by almost 7% year to date, and has followed the moves in US where the S&P 500 had its worst ever start to the year since the 2009 global crisis.

The Aussie dollar kept its ground throughout the RBA speech and firmly anchored on the 71c handle, trading currently at US$0.7130.

 

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
KAR Karoon Energy Ltd 2.02 6.6% 4,776,276 $1,054,319,047
BRN Brainchip Ltd 1.76 6.3% 45,912,938 $2,837,269,348
SWM Seven West Media 0.69 6.2% 3,873,149 $1,033,576,855
AEF Australian Ethical 9.92 6.1% 328,876 $1,050,819,740
CIA Champion Iron Ltd 6.72 6.0% 1,690,262 $3,211,158,494
AIA Auckland Internation 7.06 5.4% 693,733 $9,866,092,618
TLX Telix Pharmaceutical 7.45 5.2% 742,117 $2,178,088,807
WOR Worley Limited 11.84 5.0% 1,347,977 $5,906,828,953
GMA Genworth Mortgage 2.6 4.8% 1,371,931 $1,020,500,587
CPU Computershare Ltd 20.71 4.8% 1,094,244 $11,929,691,679
AKE Allkem Limited 9.61 4.5% 3,684,717 $5,865,235,391
PLS Pilbara Min Ltd 3.4 4.3% 16,486,098 $9,704,356,645
ABC Adbri Limited 2.98 4.2% 1,952,040 $1,866,514,807
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Market darling Brainchip (ASX:BRN) was once again in the winners’ circle, after being granted another US patent for its artificial intelligence microchips. BrainChip’s patent portfolio now comprises eight US and one Chinese granted patents.

The BRN stock price has surged by 125% this year amid the patent announcements.

Genworth Mortgage Insurance (ASX:GMA) was up 5% after the company announced a continuation of the insurance claims environment in Q4 similar to that experienced in Q3, leading to favourable net claims incurred.

This included high growth in dwelling prices, falling delinquencies, low numbers of mortgages in possession, and low numbers of paid claims.

Genworth however confirmed that unaudited total investment income was a loss of $10.6 million for the full year of FY21, including a loss of $11.6 million in the second half.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
CTT Cettire 2.38 -21.2% 7,056,601 $1,151,339,424
NVX Novonix Limited 6.57 -14.7% 7,050,629 $3,740,895,127
AEF Australian Ethical 8.6 -13.4% 550,417 $1,116,004,280
SQ2 Block 145.8 -9.7% 1,772,684 $15,408,308,469
BRN Brainchip Ltd 1.59 -9.7% 28,457,927 $3,017,277,373
Z1P Zip Co Ltd. 2.91 -9.6% 7,480,731 $1,896,048,326
INR Ioneer Ltd 0.64 -9.2% 9,457,345 $1,445,636,621
IMU Imugene Limited 0.305 -9.0% 28,358,272 $1,944,911,454
TPW Temple & Webster Ltd 8.17 -8.8% 639,656 $1,079,258,235
WTC Wisetech Global Ltd 42.59 -8.0% 955,135 $15,102,433,831
HUB HUB24 Ltd 25.53 -7.8% 385,678 $1,899,529,454
ERA Energy Resources 0.3 -7.7% 664,350 $1,199,699,539
MFG Magellan Fin Grp Ltd 18.46 -7.5% 2,020,922 $3,704,974,430
PDN Paladin Energy Ltd 0.69 -7.4% 21,198,023 $1,995,811,035
360 Life360 Inc. 8.02 -7.3% 577,045 $1,583,652,207
ALU Altium Limited 34.45 -6.9% 588,156 $4,866,985,045
LTR Liontown Resources 1.375 -6.8% 11,348,588 $3,221,998,341
APX Appen Limited 9.4 -6.7% 1,387,222 $1,240,595,153
VUL Vulcan Energy 8.99 -6.7% 680,876 $1,268,697,245