• 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