ASX Large Caps: Blue chips fight back as oil prices climb back to US$105

ASX rallies after opening lower today
Energy stocks lead the pack on higher oil prices
Australia CPI is due tomorrow

Local blue chips brushed off early jitters to finish the day higher by 0.32%.

The ASX was bracing for another day of losses this morning, following the broad-brushed selloff on Wall Street overnight.

The US CPI, which had jumped 8.5% year-on-year to a 40-year high, is pretty much dictating sentiment as investors fear a faster than expected rate hike.

The Reserve Bank of New Zealand has lifted its cash rate by 0.5% today to 1.5%, and said that NZ’s inflation rate will peak over the first half of this year.

Brent crude, which has recently fallen below US$100, climbed back up overnight to US$105 a barrel as China relented and lifted lockdowns partially.

On the ASX, Energy stocks led the pack on the back of higher oil prices. Miners and Retail stocks were also some of the best performers today.

The Aussie unemployment rate, due to be released tomorrow, will be the next catalyst that investors are watching for.

BIG CAP WINNERS

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Code	Name	Price	% Change	Volume	Market Cap
SYA	Sayona Mining Ltd	0.35	14.8%	59,296,865	$2,179,349,167
LKE	Lake Resources	2.05	11.4%	18,184,380	$2,360,079,465
AVZ	AVZ Minerals Ltd	1.145	11.2%	48,718,289	$3,634,591,640
CXO	Core Lithium	1.35	11.1%	23,664,701	$2,083,800,594
PDN	Paladin Energy Ltd	0.91	9.6%	32,880,691	$2,454,264,904
CRN	Coronado Global Res	2.28	8.6%	5,663,984	$3,520,552,833
JRV	Jervois Global Ltd	0.93	8.1%	4,061,709	$1,306,985,826
IMU	Imugene Limited	0.225	7.1%	21,199,861	$1,228,093,197
YAL	Yancoal Aust Ltd	5.12	6.4%	1,026,221	$6,351,313,692
RRL	Regis Resources	2.34	5.9%	10,810,614	$1,668,055,619
GQG	GQG Partners	1.57	5.7%	1,493,113	$4,384,916,069
SMR	Stanmore Resources	1.85	5.4%	1,259,546	$1,581,924,880
MAQ	Macquarie Telecom Gp	69.28	5.0%	8,203	$1,423,308,282

EML Payments (ASX:EML) rallied 10% as it responded to media speculations regarding a takeover interest by Bain Capital.

EML confirmed that earlier in the year it was in discussions with Bain Capital regarding a potential change of control proposal. But those discussions have now ceased, it said.

Imugene (ASX:IMU) advanced 7% after providing an update on its Phase I clinical trial of its oncolytic virotherapy candidate, CHECKvacc.

IMU said it has now dosed the first cohort 2 patient and will gradually perform a dose escalation, followed by an expansion to 12 patients at the final dose.

Metcash (ASX:MTS) touched its all time high of $4.71 earlier today before retreating to $4.66. The wholesale food distributor has been riding on a high as food prices are rising around the world.

BIG CAP LOSERS

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Code	Name	Price	% Change	Volume	Market Cap
WLE	WAM Leaders Limited	1.54	-4.3%	1,150,401	$1,661,408,715
ABC	Adbri Limited	2.89	-4.3%	3,731,344	$1,970,935,216
OCL	Objective Corp	18.05	-2.5%	6,075	$1,754,648,379
JHX	James Hardie Indust	39.73	-2.3%	952,097	$18,112,341,105
PPT	Perpetual Limited	31.43	-2.2%	304,001	$1,823,336,421
JDO	Judo Cap Holdings	1.61	-2.1%	601,928	$1,818,557,984
PPH	Pushpay Holdings Ltd	0.98	-2.0%	2,112,015	$1,140,699,323
LYC	Lynas Rare Earths	9.51	-1.9%	4,581,618	$8,744,367,958
MEZ	Meridian Energy	4.44	-1.8%	67,173	$5,703,708,403
SNZ	Summerset Grp Hldgs	10.54	-1.7%	1,204	$2,477,355,745
IFT	Infratil Limited	7.49	-1.4%	19,875	$5,511,325,250
LIC	Lifestyle Communit.	15.52	-1.4%	281,535	$1,645,540,362
CPU	Computershare Ltd	24.86	-1.4%	792,319	$15,220,016,561
MGF	Magellan Global Fund	1.47	-1.3%	1,636,419	$2,295,421,146
COF	Centuria Office REIT	2.22	-1.3%	487,750	$1,342,045,800
BKW	Brickworks Limited	23.43	-1.3%	91,572	$3,601,636,483