ASX Large Caps: Energy gain offset by losses in Tech and Healthcare
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News
The ASX 200 is down by 0.63% on Tuesday, shadowing the movements in Wall Street overnight.
Tech and Healthcare were worst performing sectors today, down by around 2% each.
Tech leaders Xero (ASX:XRO) and WiseTech (ASX:WTC) dragged, while Resmed (ASX:RMD) and Cochlear (ASX:COH) were the laggards in Health – all on no specific news.
The Reserve Bank of Australia’s minutes of its July meeting was released today.
It said in part:
“The minutes show that RBA board members had considered the possibility of raising interest rates by 25 basis points or 50 basis points on July 5th.
“Members viewed it as important that inflation expectations remained well anchored and that the period of higher inflation be temporary.
“Inflation is forecast to peak later in 2022 and then decline back towards the 2 to 3 per cent range in 2023.
“Higher interest rates will also help establish a more sustainable balance between the demand for and the supply of goods and services.”
Yields on Aussie bonds rose across the curve after the release, with the benchmark 10-year trading higher at 3.55%.
Meanwhile, ASX coal stocks have had another good day as giants Whitehaven Coal (ASX:WHC) rose another 4%, while lithium miner Lake Resources (ASX:LKE) was up by 8% – both on no news.
The 4% rally in global oil prices overnight also pushed the Energy sector 2% higher today.
Looking ahead, investors should look out for the Euro CPI figures later this evening, and the board meeting of the European Central Bank (ECB) on Thursday (Euro time).
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Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
WHC | Whitehaven Coal | 6.17 | 5% | 8,356,917 | $5,642,002,747 |
PDL | Pendal Group Ltd | 4.29 | 4% | 1,529,394 | $1,574,744,404 |
NHC | New Hope Corporation | 4.47 | 4% | 5,681,985 | $3,579,135,453 |
GQG | GQG Partners | 1.39 | 4% | 646,001 | $3,956,759,282 |
PRU | Perseus Mining Ltd | 1.6575 | 4% | 4,997,029 | $2,183,175,984 |
SYA | Sayona Mining Ltd | 0.15 | 3% | 17,618,765 | $1,195,779,137 |
WDS | Woodside Energy | 32.345 | 3% | 5,423,998 | $59,430,867,832 |
ZIM | Zimplats Holding Ltd | 23.86 | 3% | 2,496 | $2,486,429,692 |
BPT | Beach Energy Limited | 1.77 | 3% | 5,753,392 | $3,912,487,220 |
IFL | Insignia Financial | 2.75 | 3% | 1,904,902 | $1,745,807,751 |
MFG | Magellan Fin Grp Ltd | 12.51 | 3% | 645,027 | $2,250,680,708 |
Major energy traders like Woodside Energy (ASX:WDS) and Santos (ASX:STO) traded higher, up around 3% on higher oil prices.
Asset manager Pendal Group (ASX:PDL) was up 4% before it put itself in a trading halt.
Pendal’s ASX release explained that the company is in discussions with Perpetual Limited (ASX:PPT) regarding a potential transaction. Discussions are highly conditional and incomplete and there is no certainty that they will result in a transaction, it said.
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Code | Name | Price | % Change | Volume | Market Cap |
---|---|---|---|---|---|
XRO | Xero Ltd | 83.16 | -6% | 415,225 | $13,178,497,523 |
HUB | HUB24 Ltd | 22.455 | -5% | 201,271 | $1,898,979,982 |
TLX | Telix Pharmaceutical | 5.59 | -5% | 645,234 | $1,839,948,085 |
SUN | Suncorp Group Ltd | 11.22 | -5% | 3,318,035 | $14,873,486,617 |
JHX | James Hardie Indust | 32.77 | -5% | 779,062 | $15,313,940,849 |
WTC | Wisetech Global Ltd | 45.11 | -5% | 649,757 | $15,434,887,763 |
MP1 | Megaport Limited | 6.45 | -5% | 1,193,102 | $1,067,904,348 |
COH | Cochlear Limited | 202.21 | -5% | 113,389 | $13,929,243,540 |
RMD | ResMed Inc. | 31.68 | -4% | 1,090,353 | $13,493,248,514 |
RWC | Reliance Worldwide | 4.035 | -4% | 2,647,051 | $3,326,298,961 |
QUB | Qube Holdings Ltd | 2.66 | -4% | 4,476,611 | $4,891,162,191 |
DEG | De Grey Mining | 0.74 | -4% | 2,702,209 | $1,085,879,138 |
NWL | Netwealth Group | 12.36 | -4% | 166,463 | $3,128,129,656 |
SHL | Sonic Healthcare | 32.97 | -4% | 1,095,090 | $16,419,196,571 |
PXA | Pexagroup | 13.9 | -3% | 60,050 | $2,551,718,089 |
GNE | Genesis Energy Ltd | 2.56 | -3% | 38,221 | $2,782,384,958 |
PLS | Pilbara Min Ltd | 2.36 | -3% | 16,641,133 | $7,263,510,057 |
MQG | Macquarie Group Ltd | 167.68 | -3% | 539,254 | $66,988,015,771 |
AKE | Allkem Limited | 9.805 | -3% | 2,920,865 | $6,459,476,411 |
SGR | The Star Ent Grp | 2.85 | -3% | 1,948,410 | $2,798,921,777 |
Investment platform HUB24 (ASX:HUB) fell 6% despite announcing a record 38% increase in net inflows to $11.7 billion.
HUB also reported the total number of advisers using its platform is now 3486, up 14% on pcp.