• ASX recovered on Friday, but was flattish for the week
  • Energy stocks led, while Origin Energy climbed 3pc
  • Star Casino down after an update on Queensland operations


The ASX gained back some losses on Friday, closing up by +0.2%. For the week, the benchmark ASX200 index finished flattish.

Traders lost a bit of direction as Wall Street shuttered for Thanksgiving last night.

Energy stocks led the ASX today, tracking its counterparts in Europe, as traders await the OPEC+ meeting which has been postponed to next week (November 30th).

“Uncertainty is never good for financial markets, which now have to wait longer to get clarity what OPEC+ will do next year,” said UBS analyst, Giovanni Staunovo.

The Utilities sector was also higher today after a 3% rally in Origin Energy (ASX:ORG) shares. The takeover target remains in the spotlight after its top shareholders rejected Brookfield’s revised $10.6 billion bid yesterday.

Geopolitical relations also remain in focus with Israel-Hamas conflict mediators reportedly anticipating a temporary truce enabling hostage exchanges to take place today.

Across the region, Asian stocks were mixed as eyes turn to the Chinese property market after the government announced measures to support the ailing sector.

But overall, sentiment in equities remain muted after the European Central Bank (ECB) minutes from its October meeting suggested that ECB policy makers thought it was too early for the central bank to close the door to further rate hikes entirely.

Looking ahead to tonight, the US markets will close early, due to Thanksgiving season.



Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

NextDC (ASX:NXT) held its AGM this morning, where CEO Craig Ian Scroggie talked about strategic priorities for FY24.

“Looking forward, we will continue winning new business by leading the hybrid computing revolution and extending our interconnection and infrastructure services into new markets across Asia-Pacific,” Scroggie said.

“We remain dedicated to innovation and operational excellence making us the premier marketplace for the digital economy.”



Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

Casino operator, The Star Entertainment (ASX:SGR), has bought some more time on its Queensland license as the state government approved its Remediation Plan today.

The Star said it has been advised that the Attorney-General of Queensland, Yvette D’Ath MP, has approved the Remediation Plan that it submitted earlier to address the issues identified by the Bell and Gotterson reviews. The remediation plan relates to the casino entities for The Star Gold Coast and Treasury Brisbane casinos.

Accordingly, The Star will now be required, prior to 31 May 2024, to demonstrate to the Queensland Government, that it is delivering upon the approved Remediation Plan and returning to suitability.

Separately, The Star also advised that the NSW Independent Casino Commission (NICC) has requested that the employment term of the Star’s Sydney Casino manager, Nicholas Weeks, be extended by regulation to 30 June 2024. The NICC said this would be the final extension of Weeks’ term.