• The ASX 200 rose modestly on Tuesday
  • Jim Chalmers will deliver his first Budget as Treasurer tonight
  • Aussie CPI data due tomorrow


Aussie shares rose 0.3% on Tuesday ahead of tonight’s Fed Budget.

Treasurer Jim Chalmers will hand down his first budget as treasurer at 7.30pm AEDT, with a focus on affordable housing.

“Housing is simply unaffordable for many Australians and rental costs have skyrocketed, particularly in regional Australia where they have risen 12.5 per cent in the last year,” said St Vincent de Paul Society National President, Claire Victory.

The Real Estate sector was the best performing sector today, up by 1.60%.

Social security (age pension, JobSeeker payments) will also be one of the areas targeted by Chalmers, where he noted that $33 billion would be needed over the next four years.

Defence is set to get a $1 billion boost to recruit new personnel amid China’s challenge. Among other sectors to receive new funding are health, infrastructure, and electric vehicles.

The Budget deficit had been forecast to be $78 billion for this financial year, but Jim Chalmers said it will be less than half that at $36.9 billion.

“Our responsible approach to revenue upgrades means the budget bottom line will be more than $40 billion better over the forward estimates in aggregate, and debt will be lower than previously forecast,” Chalmers said to the ABC.

The quarterly inflation report will follow closely on the heels of the Budget, and will be released tomorrow.

Last month, the ABS reported that the Monthly CPI indicator had risen by 6.8% in the year to August, but economists expect tomorrow’s figure to be higher.

Food prices are expected to rise another 2.8% in the September quarter, adding 0.5% to headline inflation alone.

Back to the ASX, Medibank Private (ASX:MPL) released another statement this morning in the continuing cyber incident that has damaged its reputation.

“It has become clear that the criminal has taken data that now includes Medibank customer data, in addition to that of ahm and international student customers,” the statement said.

Looking ahead to tonight’s session on Wall St, the US house price index for Aug is scheduled to be released.



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Code Name Price % Change Volume Market Cap
SYA Sayona Mining Ltd 0.255 9% 105,096,848 $1,952,968,223
CCP Credit Corp Group 18.3 7% 255,225 $1,158,575,325
LTR Liontown Resources 1.985 6% 24,055,796 $4,129,298,458
CXO Core Lithium 1.4725 5% 30,040,686 $2,568,328,981
NEC Nine Entertainment 2.075 5% 2,210,339 $3,368,151,675
FLT Flight Centre Travel 15.735 3% 473,271 $3,043,411,397
SCP SCA Property Group 2.555 3% 1,973,081 $2,797,518,448
BRG Breville Group Ltd 19.41 3% 207,100 $2,687,145,289
PME Pro Medicus Limited 54.2 3% 127,125 $5,488,959,218
BAP Bapcor Limited 6.37 3% 698,165 $2,104,357,500
ARB ARB Corporation. 27.36 3% 73,076 $2,181,456,777
HMC Homeco Limited 4.29 3% 281,320 $1,257,248,466
SDF Steadfast Group Ltd 4.905 3% 1,108,706 $4,949,254,494
HLS Healius 3.375 3% 1,352,424 $1,910,662,861
SEK Seek Limited 21.14 2% 440,167 $7,317,877,520
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The best performing large capped stock today was Credit Corp (ASX:CCP), up 7% on the back of its AGM.

At the AGM, the company reiterated an upbeat FY23 guidance on profit of $90 million to $97 million.



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Code Name Price % Change Volume Market Cap
RWC Reliance Worldwide 3.11 -13% 10,471,831 $2,836,440,206
ALD Ampol Limited 27.56 -12% 2,387,184 $7,454,089,657
INR Ioneer Ltd 0.5375 -8% 7,462,740 $1,227,408,434
HGH Heartland Group 1.525 -6% 6,320 $1,149,673,862
CHN Chalice Mining Ltd 4.25 -5% 1,259,990 $1,689,574,401
NHC New Hope Corporation 6.725 -5% 5,746,494 $6,217,063,376
BRN Brainchip Ltd 0.8675 -4% 6,431,066 $1,556,022,740
WHC Whitehaven Coal 10.41 -4% 6,859,640 $10,087,229,365
SFR Sandfire Resources 3.35 -4% 2,317,355 $1,431,533,812
MEZ Meridian Energy 4.07 -4% 20,444 $5,359,378,495
YAL Yancoal Aust Ltd 5.68 -4% 3,213,402 $7,790,592,678
SNZ Summerset Grp Hldgs 8.54 -4% 665 $2,058,876,850
OZL OZ Minerals 24.205 -4% 3,910,003 $8,405,447,929
CRN Coronado Global Res 2.01 -3% 1,736,531 $3,487,023,758
CIA Champion Iron Ltd 5.02 -3% 1,475,735 $2,684,232,324
SGM Sims Limited 12.355 -3% 836,894 $2,466,376,576
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Reliance Worldwide (ASX:RWC) tumbled 14% after reporting falling EBITDA margins for the quarter.

EBITDA margins fell from 5% on pcp to 21.4%, as the company warned that higher costs could continue to affect margins.

“Lower volumes and higher costs negatively impacted margins, while price rises implemented to recover costs resulted in diluted margins,” Reliance said.

Ampol (ASX:ALD) fell 11% on a disappointing trading update.

The oil refiner and service station owner recorded losses in its fuel and infrastructure division of $21.3m in Q3.

Pilbara Minerals (ASX:PLS) was down half a percent despite saying it has shipped 138,249 dry metric tonnes of spodumene concentrate in the September quarter with an average realised sale price of $US4266 a tonne.