ASX Large Caps: Local shares ends week higher as Graincorp touches record highs

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.

BIG CAP WINNERS

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Code	Name	Price	% Change	Volume	Market Cap
PDN	Paladin Energy Ltd	0.9	12.5%	58,836,659	$2,365,556,534
SYA	Sayona Mining Ltd	0.315	6.8%	46,555,466	$2,094,327,782
SMR	Stanmore Resources	1.695	6.6%	1,922,324	$1,433,196,900
ZIM	Zimplats Holding Ltd	30.87	6.4%	26,987	$3,121,491,821
CMM	Capricorn Metals	4.17	6.4%	2,728,405	$1,456,595,297
ERA	Energy Resources	0.395	6.0%	1,390,144	$1,375,040,241
GNC	GrainCorp Limited	9.18	5.6%	2,968,013	$1,988,755,407
GOR	Gold Road Res Ltd	1.57	5.0%	3,043,651	$1,319,388,592
INR	Ioneer Ltd	0.735	5.0%	4,266,219	$1,463,383,879
JLG	Johns Lyng Group	9.05	4.6%	610,477	$2,242,037,390
NUF	Nufarm Limited	6.4	4.1%	1,190,567	$2,337,117,809
GRR	Grange Resources.	1.22	3.8%	2,110,946	$1,359,872,970
WHC	Whitehaven Coal	4.48	3.7%	8,273,798	$4,461,023,082
LSF	L1 Long Short Fund	2.92	3.5%	514,952	$1,723,478,072
YAL	Yancoal Aust Ltd	5.17	3.4%	636,165	$6,602,197,185
DEG	De Grey Mining	1.22	3.4%	3,804,645	$1,662,435,360

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.

BIG CAP LOSERS

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Code	Name	Price	% Change	Volume	Market Cap
PTM	Platinum Asset Mgmt	1.9	-14.8%	18,612,248	$1,308,293,947
LKE	Lake Resources	1.85	-7.3%	17,607,169	$2,548,697,248
HTA	Hutchison	0.085	-3.4%	7,500	$1,194,380,755
SDR	Siteminder	4.65	-3.3%	207,613	$1,307,327,731
VSL	Vulcan Steel	8.82	-3.1%	30,294	$1,195,818,005
PPM	Peppermoney	2.23	-3.0%	217,879	$1,011,229,675
SGR	The Star Ent Grp	3.11	-2.8%	7,256,798	$3,046,445,472
OCL	Objective Corp	18.54	-2.2%	14,966	$1,796,358,011
JDO	Judo Cap Holdings	1.63	-2.1%	481,868	$1,840,668,111
GMA	Genworth Mortgage	2.98	-2.0%	951,518	$1,222,304,340
WPL	Woodside Petroleum	32.26	-1.9%	2,595,934	$32,372,969,077
FLT	Flight Centre Travel	19.54	-1.7%	1,182,877	$3,970,979,087

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.