• ASX closed flat, as Coles-led Staples sector gained
  • Iron ore stocks under pressure as iron ore futures continue to fall
  • Bitcoin now nearly at US$56k


The ASX 200 closed +0.13% higher on Tuesday, as gains in Consumer Staples were offset by losses in Utilities and Real Estate sectors.

Local traders were cautious as stock markets in Europe slipped overnight ahead of a barrage of inflation date to be released in the coming days. Traders are also anxiously awaiting speeches from at least eight US Fed members this week.

On the ASX, the Consumer Staples sector was led by the +6% gain in Coles (ASX:COL) as the retailer released its half year results – see below for detail.

Iron ore miners were under pressure following the 3% drop in iron ore futures on Monday, followed by more softening overnight. Traders are also parsing reports that India is considering an export tax on low-grade iron ore.

Across the region today, most Asian stock markets fell.

Bitcoin keeps climbing to over US$55k, now trading at US$55,977.

“Bitcoin has got a lot of momentum and looks to be showing no signs of slowing down…,” said Farhan Badami, market analyst at eToro.

“I think it will continue to move higher in the months ahead, especially if we continue to see these solid ETF volumes.

“I’d be looking toward the first Federal Reserve rate cut as a target for bitcoin to get close to its record high,” said Badami.



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Code Name Price % Change Volume Market Cap
REH Reece Limited 28.28 17.39 683,581 $15,561,758,920
HLI Helia Group Limited 4.74 9.22 1,968,315 $1,305,492,333
TLX Telix Pharmaceutical 11.71 6.84 840,581 $3,550,845,701
COL Coles Group 16.79 5.73 6,923,492 $21,253,657,560
WTC Wisetech Global Ltd 93.86 5.30 624,283 $29,721,662,278
CSR CSR Limited 8.80 5.01 28,984,170 $4,000,474,459
EDV Endeavour 5.32 4.72 5,196,741 $9,098,178,486
OCL Objective Corp 12.54 4.67 36,885 $1,140,637,556
MCY Mercury NZ Limited 6.55 4.30 18,761 $8,736,907,061
IRE IRESS Limited 7.78 4.29 574,369 $1,393,449,476
MGH Maas Group Holdings 4.47 4.20 233,194 $1,406,795,251
NHC New Hope Corp 4.62 4.05 1,584,251 $3,753,289,460
PDN Paladin Energy Ltd 1.18 3.96 19,696,470 $3,387,572,282
FBU Fletcher Building 3.77 3.01 1,271,425 $2,865,939,561
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Recce Pharma (ASX:RCE) surged after the announcing the continuation of the work within the cpmpany’s Anti-Infective Research (AIR) Unit located within Murdoch Children’s Research Institute (MCRI). In 2023, Recce established a dedicated Anti-Infective Research Unit led by MCRI researcher Dr Sohinee Sarkar. By leveraging MCRI’s world-leading expertise and resources, Recce hopes to continue to streamline its ongoing pre-clinical programs, while investigating new indications for future clinical trials.

G8 Education (ASX:GEM) rose 11% after reporting a 9.1% increase (vs pcp) in full year group revenue to $983.4 million. Statutory NPAT was $56.1 million, up 53.1% on CY22. CY23 fully franked dividend was declared at 3.0c per share, taking the full-year dividend to 4.5c, up 50% on CY22.

Coles Group (ASX:COL)’s Group EBITDA for the half year was $1,854m, up +2.5% on pcp. Underlying EBITDA was down -0.3% to $626m. Interim dividend was declared at 36 cps, fully franked.

Adbri (ASX:ABC)’s full year revenue increased to $1.92 billion, up 13.1% on the prior year. Statutory NPAT was $92.9 million, down 9.5% on pcp, while underlying NPAT was $111.7 million, up 43.8% on pcp. The Board has decided not to declare a final dividend considering the capital requirements for the Kwinana Upgrade, and current elevated leverage.

Woodside Energy (ASX:WDS) has achieved record full year production of 187.2 MMboe (513 Mboe/d) and excellent operated LNG reliability of 98%. WDS recorded full-year NPAT of $1,660 million, and underlying NPAT of $3,320 million, when adjusted for exceptional items. A final dividend of US 60 cents per share (cps) was declared, bringing the full-year dividend to US 140 cps. The dividend is fully franked.



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Code Name Price % Change Volume Market Cap
BRN Brainchip Ltd 0.37 -24.49 40,406,612 $884,849,196
JLG Johns Lyng Group 6.01 -16.53 4,926,609 $2,000,691,281
HLS Healius 1.27 -8.12 3,348,692 $1,005,602,855
SNZ Summerset Grp Hldgs 10.25 -6.56 518 $2,570,066,761
MP1 Megaport Limited 13.66 -5.53 546,417 $2,300,944,753
BFL Bsp Financial Group 6.85 -5.52 10,509 $3,387,344,848
SQ2 Block 113.75 -4.95 440,004 $4,245,282,001
ILU Iluka Resources 6.64 -4.46 2,200,830 $2,960,924,499
AWC Alumina Limited 1.04 -4.36 18,011,106 $3,162,832,745
TPG TPG Telecom Limited 4.72 -4.26 2,133,425 $9,166,554,428
NIC Nickel Industries 0.70 -3.77 3,308,604 $3,128,641,212
LYC Lynas Rare Earths 5.69 -3.64 4,672,182 $5,514,696,582
NEM Newmont Corporation 45.83 -3.52 356,136 $8,082,425,058
SMR Stanmore Resources 3.34 -3.33 1,299,408 $3,109,801,137
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BrainChip Holdings (ASX:BRN) crashed -25% after reporting a full year loss of US$28.9 million, with revenue of just -$0.2m. In FY23, Brainchip reported total expenses of US$28m – of which US$7 million or a quarter were in R&D expenses. Other costs include marketing expenses of $4.7m, and share-based expenses of $11m, which include performance payments, vesting options and other rights issued to its directors.

Takeover target, Altium Ltd (ASX:ALU), said its half year enterprise revenue grew by 61% to US$20.4 million. EPS grew by 11% to USD 25.1 cents. Partially franked, interim dividend was declared at 30 cents, up by 20%.