• The ASX closed lower on Friday, extending its loss to over 1% for the week
  • Coal and energy stocks gained, while insurance stocks fell
  • Novonix in hot water with the ASX


Local shares fell close to 1% on Friday, ending what has been a volatile week 1% lower.

The Energy sector once again led from the front, up almost 2% as other sectors languished in the red.

Coal plays were the main winners today, with the likes of Yancoal (ASX:YAN) and New Hope (ASX:NHC) surging by around 8%.

Coal prices are at all time highs right now, driven to record levels by a combination of shortages, the war in Ukraine, substitution due to surging gas and oil prices and rising demand as economies and businesses open up post-Covid.

Investors have also been adding to their energy stock positions amid a looming supply shortage going into the northern hemisphere winter.

Overnight, benchmark Brent crude climbed further (trading at US$92.40 now) after President Biden confirmed the release of the final 15 million barrels from the SPR, as part of the 180 million previously agreed, and warned more could follow

“This allows us to move quickly to prevent oil price spikes and respond to international events,” the President said.

Biden also called for “responsibly increasing American oil production without delaying or deferring our transition to clean energy.”

On the ASX, Medibank Private (ASX:MPL)‘s trading halt has been extended indefinitely.

Yesterday, Medibank released a statement saying it has been contacted by a criminal claiming to have stolen 200GB of data. The group has apparently provided a sample of records for 100 policies which is believed to have come from the company’s ahm and international student systems.

Lithium battery play Novonix (ASX:NOV) was in hot water this morning after the ASX enquired why the company had only released an announcement about a US$150m grant from the US Department of Energy (DOE) yesterday, instead of when the day it was granted (14th Oct).

Novonix responded, saying that at the time it received the grant (14th Oct), it considered the information to be an incomplete proposal or negotiation.

“The correspondence from the DOE also stated that NVX was prohibited from disclosing its selection for negotiation of a financial award prior to the DOE making a public announcement about the matter.”

The NVX share price was down 3%.

Financial stocks also came under pressure today with most insurance stocks tumbling.

Insurance Australia Group (ASX:IAG), QBE Insurance (ASX:QBE) and Suncorp Group (ASX:SUN) all slumped by around 2%.

Looking ahead to tonight’s session on Wal Street, not much action on the economics calendar but the EU is scheduled to release its consumer confidence index.



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Code Name Price % Change Volume Market Cap
TLX Telix Pharmaceutical 6.725 12% 1,796,059 $1,878,647,640
NHC New Hope Corporation 7.425 8% 7,863,215 $6,033,178,403
360 Life360 Inc. 6.27 7% 3,355,981 $1,100,037,932
PRU Perseus Mining Ltd 1.7275 6% 3,393,994 $2,218,434,078
YAL Yancoal Aust Ltd 5.95 6% 4,810,667 $7,420,869,636
CRN Coronado Global Res 2.06 5% 3,138,674 $3,277,467,042
SYR Syrah Resources 2.185 5% 7,453,002 $1,394,787,077
SMR Stanmore Resources 2.75 5% 2,583,999 $2,361,620,049
WHC Whitehaven Coal 10.525 5% 9,314,202 $9,324,876,547
EVT Event Hospitality 14.2 4% 81,268 $2,198,706,906
BFL Bsp Financial Group 4.9 4% 2,300 $2,209,950,501
ZIM Zimplats Holding Ltd 24.95 3% 1,451 $2,597,296,470
CXO Core Lithium 1.375 3% 25,805,791 $2,439,912,532
MIN Mineral Resources. 74.31 3% 884,238 $13,643,305,767
CIA Champion Iron Ltd 4.92 3% 1,231,113 $2,461,839,280
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Telix Pharma (ASX:TLX) raced away 11% higher on no specific news.

Gold miner Perseus Mining (ASX:PRU) rallied 7% after announcing that it will emerge as a strategic shareholder with a 2.94% equity holding in Mako Gold (ASX:MKG).

Mako has just completed the acquisition of an additional 39% interest in the flagship Napié Gold Project in Côte d’Ivoire, increasing Mako’s total ownership to 90%.

Life 360 (ASX:360) was up 5% after revealing changes to pricing for some of its US based premium offerings. Pricing for annual subscriptions remains unchanged.

The company said it will provide a more comprehensive update of the pricing and product rollouts as part of its Q3 earnings release on 15 November.



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Code Name Price % Change Volume Market Cap
HMC Homeco Limited 4.185 -5% 1,257,904 $1,323,419,438
ORG Origin Energy 5.29 -4% 3,987,428 $9,509,567,144
NVX Novonix Limited 2.195 -4% 5,500,238 $1,109,630,181
RWC Reliance Worldwide 3.36 -4% 1,569,239 $2,757,430,730
NIC Nickel Industries 0.71 -3% 6,530,181 $2,007,486,020
GMG Goodman Group 16.005 -3% 2,368,935 $31,065,349,334
NWL Netwealth Group 11.52 -3% 351,615 $2,899,795,016
ARB ARB Corporation. 25.71 -3% 120,559 $2,169,996,966
QBE QBE Insurance Group 11.805 -3% 2,151,194 $18,054,041,133
MFG Magellan Fin Grp Ltd 10 -3% 1,401,298 $1,889,872,799
CCP Credit Corp Group 16.455 -3% 122,396 $1,149,078,806
WOR Worley Limited 13.34 -3% 737,422 $7,209,013,333
QAN Qantas Airways 5.85 -3% 8,840,728 $11,353,989,082
PPT Perpetual Limited 24.22 -3% 185,879 $1,426,399,430
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