ASX Large Caps: Blue chips end flat as e-commerce and lithium stocks fall down a hole

The ASX closes flat
Lithium, e-commerce stocks lose ground
Bitcoin back below US$20k

Local shares closed flat on Tuesday as gains in seven sectors were offset by losses in four sectors.

At the close, the ASX 200 was down by 0.20% to 6,610.

Consumer Staples and Healthcare led the pack, rising by over 1.5%. Tech and Mining meanwhile lagged, down by almost 1%.

Lithium miners tumbled as two of the sector’s biggest names, Lake Resources and Core Lithium, plunged by around 7%.

Lake Resources (ASX:LKE) has put itself on voluntary trading halt as it prepares a response to the ASX about a claim made by short seller J Capital that Lake paid millions in stocks to advisory firms when its own directors were selling shares.

Retailers meanwhile were weighed down by the release of the weekly ANZ and Roy Morgan survey of consumer confidence, which showed a 2.5% decline last week.

According to the survey, fewer than a third (30%) of Australians expect their family to be ‘better off’ financially this time next year, compared to 34% that expect to be ‘worse off’.

When it comes to buying intentions, just 25% (down 1ppt) of Australians, say now is a ‘good time to buy’ major household items while 47% (unchanged), say now is a ‘bad time to buy’.

Retail e-commerce stocks like Kogan (ASX:KGN) and Redbubble (ASX:RBL) sank by 9% and 4% respectively on the news.

Bitcoin meanwhile has slumped back below the closely watched US$20k level, and is now trading at US$19,985.

New York crypto research firm Delphi Digital’s latest analysis reportedly predicts “more pain ahead for risk assets”, with potential BTC support down at US$15k or even US$9k-$12k

BIG CAP WINNERS

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Code	Name	Price	% Change	Volume	Market Cap
IFT	Infratil Limited	7.34	4%	17,211	$5,119,731,088
NHC	New Hope Corporation	3.91	4%	4,481,112	$3,137,986,199
APE	Eagers Automotive	10.89	3%	397,971	$2,713,213,599
NHF	NIB Holdings Limited	7.68	3%	380,756	$3,420,330,529
ZIM	Zimplats Holding Ltd	22.95	3%	4,252	$2,404,625,079
SKC	Skycity Ent Grp Ltd	2.34	3%	531,149	$1,733,267,877
AMC	Amcor PLC	18.54	3%	3,820,021	$12,807,366,293
CRN	Coronado Global Res	1.55	2%	4,163,781	$2,539,827,401
VEA	Viva Energy Group	2.8	2%	4,772,536	$4,251,083,866
CEN	Contact Energy Ltd	6.8	2%	7,442	$1,649,695,213
APA	APA Group	11.67	2%	849,443	$13,486,186,683
RMD	ResMed Inc.	32.31	2%	1,235,248	$12,878,994,512
WOW	Woolworths Group Ltd	37.165	2%	1,593,354	$44,210,328,176
WHC	Whitehaven Coal	5.17	2%	6,403,452	$4,848,297,276
CSL	CSL Limited	293.4	2%	550,080	$138,726,587,545
CPU	Computershare Ltd	24.61	2%	1,386,756	$14,592,138,051
CLW	Chtr H Lwr	4.47	4%	2,238,796	$3,115,938,058

The corporate earnings season is now underway, with Eagers Automotive (ASX:APE) reporting today that its first half profit will exceed guidance.

The APE share price rose by 3% as it predicted a net profit of$246 million for the full year, versus a $225 million ~ $240 million range forecast made in May.

BIG CAP LOSERS

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Code	Name	Price	% Change	Volume	Market Cap
ANN	Ansell Limited	24.04	-13.43	2,083,083	$3,521,713,116
AZJ	Aurizon Holdings Ltd	3.80	-5.13	8,233,828	$7,362,815,928
LLC	Lendlease Group	8.14	-4.85	2,264,165	$5,893,703,656
IVC	InvoCare Limited	12.14	-4.71	443,241	$1,835,333,738
VSL	Vulcan Steel	7.71	-4.34	168,162	$1,059,153,090
NIC	Nickel Industries	0.85	-3.98	9,370,067	$2,661,346,400
IGO	IGO Limited	14.79	-3.96	4,736,335	$11,661,924,320
A4N	Alpha Hpa Ltd	1.14	-3.81	1,220,781	$1,012,211,173
DDR	Dicker Data Limited	7.99	-3.62	294,399	$1,493,561,210
MTS	Metcash Limited	3.62	-3.60	2,568,455	$3,620,781,008
EVT	EVT Limited	11.31	-3.38	64,830	$1,887,534,195
PNV	Polynovo Limited	1.58	-3.22	1,148,393	$1,125,079,384
ALL	Aristocrat Leisure	38.36	-2.61	497,276	$25,752,179,052