ASX large caps roundup 28 Apr 2022. Picture: Getty
ASX Large Caps: Local blue chips up 1pc in miner-led rally
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- All 11 ASX sectors finished higher today
- Bue chip miners lifted 3pc, boosting the ASX200 to a ~1% gain
- Major stocks like Fortescue, Coles, AMP released updates
Miners lifted local blue chips higher today as the sector jumped by over 3%, helping the benchmark index to a ~1.2% gain.
After languishing for much of this week, mining stocks came back to life buoyed by strong updates from sector giants like Fortescue Metals (ASX:FMG).
Fortescue, which rose by 7% today, raised its iron ore export target and is on track for its third consecutive year of record exports.
News that China will boost its economy by splurging on infrastructure spending has boosted the iron ore price in the last couple of days, which is now back over US$151 a tonne.
Energy was another sector that performed well today after LNG prices surged overnight. This came after Russian President Vladimir Putin cut off supplies of LNG to Poland and Bulgaria. The move has sent natgas futures in Europe jumping by as much as 23%.
Despite the overall positive sentiment today, the RBA meeting on 3rd May still remains a critical checkpoint for local investors.
The Aussie bond market is currently pricing in a 20bp rate hike in May, with an expectation a 2.5% rate hike by end of the year, following a smashing 5.1% CPI print yesterday.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AMP | AMP Limited | 1.155 | 12.7% | 51,703,601 | $3,347,758,499 |
| SMR | Stanmore Resources | 2.26 | 11.9% | 2,450,846 | $1,820,791,030 |
| SFR | Sandfire Resources | 5.77 | 11.0% | 6,833,361 | $2,131,905,844 |
| FMG | Fortescue Metals Grp | 21.7 | 8.0% | 8,224,655 | $61,887,194,852 |
| SYR | Syrah Resources | 1.985 | 7.9% | 7,034,889 | $1,231,202,000 |
| WHC | Whitehaven Coal | 4.96 | 6.9% | 8,432,923 | $4,713,659,429 |
| OZL | OZ Minerals | 24.94 | 6.5% | 2,035,736 | $7,836,381,363 |
| GRR | Grange Resources. | 1.365 | 5.8% | 2,891,663 | $1,492,966,920 |
| NIC | Nickel Mines Limited | 1.22 | 5.6% | 16,069,538 | $3,029,739,721 |
| ILU | Iluka Resources | 11.15 | 5.5% | 1,940,460 | $4,484,179,245 |
| YAL | Yancoal Aust Ltd | 5.31 | 5.1% | 773,895 | $6,668,219,157 |
| MIN | Mineral Resources. | 58.3 | 5.1% | 1,067,515 | $10,498,778,306 |
| CEN | Contact Energy Ltd | 7.58 | 5.0% | 3,883 | $1,788,408,324 |
| CIA | Champion Iron Ltd | 7.34 | 4.6% | 1,573,942 | $3,626,615,370 |
| NHC | New Hope Corporation | 3.45 | 4.5% | 5,776,500 | $2,746,778,371 |
| AMC | Amcor PLC | 16.89 | 4.4% | 5,324,989 | $12,749,990,943 |
| EVT | Event Hospitality | 14.32 | 4.3% | 134,387 | $2,213,214,503 |
AMP Ltd (ASX:AMP) was up 12% today after announcing the sale of Collimate Capital’s international infrastructure equity business to DigitalBridge for an upfront consideration of $462 million, and total value of up to $699 million. Combined with the sale of the domestic infrastructure and real estate businesses announced previously, the deal values the Collimate Capital business at up to $2.04 billion.
Sandfire Resources (ASX:SFR) was up 11%, after the copper company flagged a a strong outlook following rising commodity prices.
Coles (ASX:COL) lifted 0.6% after it reported a 3.9% increase in sales to $9.3 billion for Q3. Coles also said sales for Q4 have started positively.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| OCL | Objective Corp | 17.7 | -2.3% | 31,996 | $1,716,730,532 |
| 29M | 29Metalslimited | 2.93 | -2.3% | 6,857,364 | $1,443,958,173 |
| HSN | Hansen Technologies | 5.36 | -2.4% | 122,152 | $1,102,427,603 |
| ABB | Aussie Broadband | 5.59 | -2.4% | 338,925 | $1,361,580,735 |
| APM | APM Human Services | 3.16 | -2.5% | 1,116,364 | $2,971,669,505 |
| FFX | Firefinch Ltd | 0.965 | -2.5% | 10,125,494 | $1,169,430,789 |
| DGL | DGL Group Limited | 3.85 | -2.5% | 298,677 | $1,102,517,518 |
| VUL | Vulcan Energy | 8.36 | -2.6% | 419,039 | $1,129,514,872 |
| TLX | Telix Pharmaceutical | 4.19 | -3.2% | 753,020 | $1,352,022,582 |
| SBM | St Barbara Limited | 1.295 | -3.4% | 5,572,649 | $1,093,084,589 |
| SDR | Siteminder | 4.245 | -3.5% | 425,485 | $1,195,892,311 |
| HTA | Hutchison | 0.08 | -3.6% | 37,429 | $1,126,518,212 |
| SYA | Sayona Mining Ltd | 0.3225 | -3.7% | 34,533,692 | $2,404,163,677 |
| PDN | Paladin Energy Ltd | 0.775 | -6.1% | 36,059,249 | $2,439,480,176 |
| SLR | Silver Lake Resource | 1.87 | -6.5% | 11,421,347 | $1,860,337,902 |
Silver Lake (ASX:SLR) was down 6.50% today after withdrawing its FY22 guidance due to ‘severe disruptions’ caused by COVID-19.
The gold miner said it has experienced supply chain issues and labour shortages, and has decided to withdraw guidance despite being on track to meet it.
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