Qantas sued by ACCC for selling tickets to cancelled flights. Picture Getty
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The ASX finished almost flat on Thursday as losses in the Energy sector were offset by winners in the Tech and Comms sectors.
The slump in energy was mainly the result of stocks that went ex-dividend today – Whitehaven Coal (ASX:WHC) and Woodside Energy (ASX:WDS).
Oil prices are still holding steady. Overnight, crude rose to its fifth-straight day on speculation that OPEC+ will extend its supply cuts.
Sayona Mining (ASX:SYA) was the worst large cap today, down 10% on no news. The company did announce the resignation of its CEO a few days ago.
Dicker Data (ASX:DDR) was the best-performing stock, up 11.5% and extended gains after reporting its half year yesterday.
Meanwhile, competition watchdog the ACCC has launched a legal action against Qantas, claiming that the airline advertised and sold 8,000 tickets to flights it had already cancelled.
“We allege that Qantas’ conduct in continuing to sell tickets to cancelled flights, and not updating ticket holders about cancelled flights, left customers with less time to make alternative arrangements and may have led to them paying higher prices to fly at a particular time not knowing the flight had already been cancelled,” said ACCC chair, Gina Cass-Gottlieb.
Elsewhere, the Aussie dollar climbed to US64.82c after better than expected manufacturing data from China released today.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DDR | Dicker Data Limited | 9.92 | 11.66 | 715,580 | $1,599,858,087 |
| IGO | IGO Limited | 13.92 | 5.42 | 3,363,024 | $9,995,935,132 |
| HVN | Harvey Norman | 4.05 | 5.34 | 5,401,530 | $4,784,665,551 |
| 360 | Life360 Inc. | 9.38 | 4.92 | 576,762 | $1,792,419,140 |
| SKC | Skycity Ent Grp Ltd | 2.18 | 3.57 | 956,000 | $1,596,430,939 |
| PSI | Psc Insurance Ltd | 5.14 | 3.01 | 38,055 | $1,774,862,766 |
| BOE | Boss Energy Ltd | 3.47 | 2.97 | 1,660,425 | $1,189,227,731 |
| AWC | Alumina Limited | 1.08 | 2.86 | 6,378,321 | $3,046,765,488 |
| AZS | Azure Minerals | 2.52 | 2.86 | 1,981,713 | $1,058,708,051 |
| SIQ | Smartgrp Corporation | 8.61 | 2.74 | 669,932 | $1,113,171,286 |
| GNE | Genesis Energy Ltd | 2.30 | 2.68 | 58,625 | $2,386,209,197 |
| DHG | Domain Holdings Aus | 3.86 | 2.39 | 392,300 | $2,381,347,467 |
Lithium miner IGO (ASX:IGO) jumped 5% after declaring record revenue of $1.02bn for the full year, up 13% on pcp. Bottom line NPAT was $549 million, up 66% on pcp.
“Within our lithium business, excellent production and cost performance at the Greenbushes Lithium Mine, combined with exceptional realised pricing, drove record earnings and cash dividends of over $1 billion to IGO, via our lithium joint venture,” said IGO CEO, Peter Bradford.
Home retailer Harvey Norman (ASX:HVN) reported a 32% decrease in NPAT, but met its guidance. Full year EBITDA was $1.13bn, down from $1.43bn in the pcp. Net assets were $4.46bn, up from $4.29bn in FY22.
Copper-gold miner Sandfire Resources (ASX:SFR) rose despite reporting a $US53.6 million statutory loss for the year versus $US109 million profit last year. The company said the retirement of its Degrussa mine, along with lower copper prices meant that revenue was 15% lower in the year.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SYA | Sayona Mining Ltd | 0.11 | -12.00 | 41,636,141 | 1,286,662,002 |
| WHC | Whitehaven Coal | 6.11 | -9.08 | 7,994,217 | 5,621,957,268 |
| MFG | Magellan Fin Grp Ltd | 8.82 | -7.16 | 1,818,418 | 1,723,603,041 |
| HLS | Healius | 2.735 | -6.34 | 3,883,736 | 1,663,516,469 |
| WEB | Webjet Limited | 6.995 | -5.85 | 3,679,901 | 2,863,723,754 |
| CHN | Chalice Mining Ltd | 3.56 | -5.57 | 11,252,509 | 1,461,712,611 |
| GNC | GrainCorp Limited | 7.335 | -4.49 | 1,264,399 | 1,722,908,137 |
| LFG | Liberty Fin Group | 3.68 | -4.42 | 24,782 | 1,169,644,911 |
| KLS | Kelsian Group Ltd | 6.25 | -3.85 | 846,983 | 1,749,915,089 |
| WDS | Woodside Energy | 36.99 | -3.75 | 4,212,197 | 72,968,953,700 |
| AX1 | Accent Group Ltd | 2.05 | -3.30 | 1,653,349 | 1,171,215,111 |
| NEU | Neuren Pharmaceut. | 12.57 | -2.93 | 400,978 | 1,639,025,504 |
| NAN | Nanosonics Limited | 4.145 | -2.93 | 370,595 | 1,291,720,668 |
| MCY | Mercury NZ Limited | 5.72 | -2.72 | 12,613 | 8,156,548,910 |
Gold miner Perseus Mining (ASX:PRU) traded flat despite delivering a record full year. Revenue was $1.426 billion, up 27% in the pcp. EBITDA was $821.3 million, up 46% on pcp.
“Record financial results for FY23 reflect our continued strong operating performance at all levels of our business. Combined, our three West African gold mines are producing above targeted rate of production with 535,281 ounces of gold produced in FY23…” said Perseus CEO, Jeff Quartermaine.
Toll road operator Atlas Arteria (ASX:ALX) saw its half year profit jumped 17% to $136.5m as a result of higher income from higher inflation.
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