ASX large caps roundup 31 Oct. Picture Getty
ASX Large Caps: Graincorp gains 7pc as wheat soars; ASX bullish ahead of RBA call
News
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- The ASX 200 finished 1% higher on Monday
- Australian retail sales rose again in September
- Graincorp gains as wheat prices jump
Aussie shares ended the day 1% higher on Monday, tracking the moves in New York where US stocks gained 2.5% in a broad rally.
All sectors were in the green except for Energy, which lost 1% as oil markets remained volatile.
China is ramping up its Covid restrictions amid a dim global economic outlook.
Brent crude fell 1% to US$95.33 a barrel on Friday ahead of the OPEC World Oil Outlook report to be released later tonight.
“Crude is also feeling heavy as the strong dollar trade could be returning as Treasury yields resume their climb higher ahead of this week’s FOMC meeting,” said OANDA analyst Edward Moya.
Meanwhile, the ABS has today released retail sales data for September , with total sales lifting 0.6% over the month to be 17.9% higher YoY.
Growth in sales were driven mainly by growth in clothing, footwear and personal accessory retailing (+2.0%), cafes, restaurants and takeaway (+1.3%), and food retailing (+1.0%).
The strong data is expected to reinforce the RBA’s case for another big interest-rate hike tomorrow. The central bank is tipped to hike 50bp (up from 25bp last month) just half an hour before the start of the Melbourne Cup.
Earlier, China’s factory activity missed expectations, dragging down stock markets across the region.
Back to the ASX, Graincorp (ASX:GNC) was one of the best performing stocks today, up by 7% as news emerged that Russia backflipped on a UN brokered deal that would have allowed Ukraine to export most of its grains.
Russia cited an alleged Ukrainian drone attack on Saturday against its Black Sea Fleet ships moored off the coast of Crimea as the reason for the move. Wheat prices had jumped 9% on the news.
Looking ahead to tonight’s session on Wall St, we’re thin on data as the US Dallas Fed manufacturing index is the only data release due for release.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| HMC | Homeco Limited | 4.81 | 8% | 384,542 | $1,338,458,295 |
| PPH | Pushpay Holdings Ltd | 1.14 | 8% | 2,160,767 | $1,203,907,521 |
| GNC | GrainCorp Limited | 8.36 | 8% | 1,329,426 | $1,735,529,044 |
| CNU | Chorus Limited | 7.675 | 8% | 6,465,893 | $3,182,156,732 |
| 360 | Life360 Inc. | 6.89 | 7% | 755,260 | $1,197,731,070 |
| OCL | Objective Corp | 14.63 | 7% | 25,762 | $1,300,681,670 |
| ARB | ARB Corporation | 28.81 | 7% | 225,007 | $2,211,597,060 |
| NAN | Nanosonics Limited | 4.1 | 7% | 455,830 | $1,159,696,205 |
| IMU | Imugene Limited | 0.175 | 6% | 15,358,191 | $1,038,586,392 |
| GQG | GQG Partners | 1.445 | 6% | 709,108 | $4,030,579,417 |
| GUD | G.U.D. Holdings | 8.01 | 5% | 219,487 | $1,070,799,690 |
| LKE | Lake Resources | 1.0375 | 5% | 10,619,245 | $1,370,035,228 |
| PMV | Premier Investments | 24.95 | 5% | 228,274 | $3,770,910,384 |
| NWL | Netwealth Group | 12.14 | 5% | 115,743 | $2,814,435,196 |
| DTL | Data#3 Limited | 6.89 | 5% | 323,826 | $1,014,170,647 |
| REH | Reece Limited | 15.545 | 5% | 305,730 | $9,579,945,404 |
| LOV | Lovisa Holdings Ltd | 24.3 | 5% | 312,059 | $2,500,620,903 |
| NIC | Nickel Industries | 0.7325 | 5% | 4,418,213 | $1,911,891,448 |
| AMP | AMP Limited | 1.26 | 5% | 23,776,778 | $3,804,223,777 |
| PNI | Pinnacle Investment | 8.155 | 5% | 425,772 | $1,566,732,788 |
Life 360 (ASX:360) rose 8% on no specific news.
Pilbara Minerals (ASX:PLS) and Xero (ASX:XRO), and Infratil (ASX:IFT) were the best performing large stocks today with no specific news.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BRN | Brainchip Ltd | 0.63 | -6% | 18,113,853 | $1,151,972,636 |
| NXT | Nextdc Limited | 8.38 | -4% | 3,233,920 | $4,011,659,197 |
| GOR | Gold Road Res Ltd | 1.345 | -4% | 2,194,227 | $1,506,305,217 |
| WHC | Whitehaven Coal | 9.06 | -4% | 17,250,276 | $8,754,757,801 |
| YAL | Yancoal Aust Ltd | 5.16 | -3% | 3,540,539 | $7,037,942,199 |
| NCM | Newcrest Mining | 17.3 | -3% | 1,773,173 | $15,916,954,120 |
| DRR | Deterra | 4.065 | -3% | 1,715,292 | $2,203,952,186 |
| NST | Northern Star | 8.71 | -2% | 3,670,437 | $10,352,523,710 |
| NHC | New Hope Corporation | 5.56 | -2% | 6,826,004 | $4,991,163,555 |
| CSR | CSR Limited | 4.6 | -2% | 1,402,421 | $2,255,954,692 |
| DBI | Dalrymple Bay | 2.39 | -2% | 331,863 | $1,209,658,467 |
| CMM | Capricorn Metals | 3.39 | -2% | 470,865 | $1,293,781,140 |
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