• ASX up 0.5% today, down 0.2% for the week
  • Central bank news dominated headlines this week
  • Graincrop shares touches record highs


Local shares shrugged off early losses to finish 0.51% higher – but for the week, the benchmark ASX 200 index was down 0.18%.

By sector, it was a mixed bag today with Energy and Miners leading, and Tech and Utilities offsetting the gains.

It has been a volatile week, driven mainly by Central Bank news.

On Wednesday, minutes from the US Fed meeting showed that board members planned to gradually pull back the pandemic-era stimulus by as early as May.

Closer to home, the RBA also signalled a rate hike as early as June.

The RBA also said that 75% of fixed rate home loans will expire in 2023, and borrowers would likely have to pay higher rates then. But it also said that households could weather this storm as most have built up buffers.



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Graincorp (ASX:GNC) surged 5.5% and touched record highs after upgrading its FY22 earnings.

The agricultural company says it now expects full year EBITDA to increase to $590-670 million (previously $480-540 million), and underlying NPAT to $310-370 million (previously $235-280 million).

GNC says the improved outlook reflects significant ongoing global demand for Australian grain and oilseeds, and favourable planting conditions for the upcoming east coast Australian winter crop.

Capricorn Metals (ASX:CMM) was up 6.6% after reporting strong early drilling results at its Mt. Gibson project in WA.

Assays have been returned from the first 55 holes with encouraging results including: 23m @ 5.04 g/t from 157m, and 18m @ 3.65 g/t from 149m.


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Embattled casino group Star Entertainment (ASX:SGR) dropped 2% after learning that the court’s final report into Star’s dealings has been extended from 30 June, to 31 August 2022.