• The ASX 200 index extends 2023 gains
  • Aussie unemployment increases to 3.5%
  • NZ PM Jacinda Ardern resigns


The ASX 200 added another 0.6% on Tuesday as the benchmark index races away to a 7% gain in 2023.

Local investors were buoyant today after Aussie unemployment rate inched higher from 3.4% to 3.5% in December, reducing the possibility of a steep RBA rate hike even further.

The economy shed 14,640 jobs in December, revising the jobless rate up slightly from a 50-year low.

Matt Simpson, senior market analyst at City Index believes a 25bp hike by the RBA is still on the cards for February.

“It’s unlikely to derail the RBA from another 25bp hike in February, especially with inflation continuing to rise, but the RBA will keep a close eye on employment change and unemployment to see if it is the beginning of a trend,” Simpson said.

Aussie government bond yields declined (bond prices higher) and the AUD also depreciated after the release – signalling the market’s expectations of lower rates in the future.

Meanwhile in a shock resignation, NZ PM Jacinda Ardern announced that she will step down from the role.

Ardern said she was experiencing burnout in the job, telling this to reporters,” I have given my absolute all to being prime minister but it has also taken a lot out of me.”

“I know what this job takes, and I know that I no longer have enough in the tank to do it justice. It is that simple,” she added.

On the ASX, Energy and Tech sectors lagged on Tuesday while all other sectors gained.

Diversified miner Mineral Resources (ASX:MIN) rose 0.2% after announcing that it will walk away from the takeover bid for Warrego Energy (ASX:WGO).

MIN, who owns a 19.17% stake Warrego, say it’s walking away because ‘gas asset prices in the Perth Basin are now over-inflated’.

Looking ahead to tonight’s session on Wall Street, US stocks that will report their earnings include: American Airlines, Atlassian Corp, Netflix, PPG Industries and Procter & Gamble.

The European Central Bank (ECB) will also release its December monetary policy meeting minutes.



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Security Description Last % Volume MktCap
NAN Nanosonics Limited 5.11 7.81 1,451,642 $1,431,619,925
VEA Viva Energy Group 2.87 4.56 2,798,434 $4,246,012,819
GRR Grange Resources. 1.01 4.12 3,351,516 $1,122,618,537
PXA Pexagroup 13.20 3.65 407,899 $2,257,357,281
SUN Suncorp Group Ltd 12.33 3.44 2,657,464 $15,067,781,116
MEZ Meridian Energy 4.94 3.35 49,422 $6,039,599,009
AKE Allkem Limited 12.62 3.02 2,675,050 $7,811,311,554
RIO Rio Tinto Limited 125.63 2.98 1,574,830 $45,284,665,946
SNZ Summerset Grp 8.75 2.94 1,060 $1,972,993,599
ZIM Zimplats Holding Ltd 29.32 2.73 7,783 $3,071,978,502
RMD ResMed Inc. 33.41 2.20 1,229,644 $13,573,207,381
YAL Yancoal Aust Ltd 6.32 2.10 1,481,756 $8,173,520,115
ILU Iluka Resources 10.63 2.07 1,185,696 $4,423,543,692
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Nanasonics (ASX:NAN) rose over 8% after reporting profit before tax of approximately $11.4 million, compared with $3.3 million in the pcp.

Transurban Group (ASX:TCL) was up 1% ahead of the opening of the 7.5km M4-M8 link (formerly M4-M5 link) tunnels this Friday. The twin tunnels represent the final development for the $16.8b WestConnex project.



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Security Description Last % Volume MktCap
NWL Netwealth Group 12.52 -10.12 575,449 $3,397,320,822
NIC Nickel Industries 1.035 -7.59 22,947,789 $3,059,026,317
AWC Alumina Limited 1.575 -7.35 23,994,084 $4,932,858,409
INR Ioneer Ltd 0.49 -6.67 6,439,717 $1,101,627,590
PDN Paladin Energy Ltd 0.73 -6.41 11,296,583 $2,324,377,247
JDO Judo Cap Holdings 1.425 -5.00 614,570 $1,658,279,808
KAR Karoon Energy Ltd 2.09 -3.69 1,728,253 $1,221,022,883
360 Life360 Inc. 5.57 -3.47 402,472 $1,129,301,682
PTM Platinum Asset 2.095 -3.01 481,754 $1,267,226,424
LKE Lake Resources 0.81 -2.99 2,774,426 $1,162,879,906
GQG GQG Partners 1.535 -2.85 392,264 $4,665,432,586
BAP Bapcor Limited 6.4 -2.74 2,456,147 $2,233,334,250
CHN Chalice Mining Ltd 6.645 -2.71 1,001,604 $2,571,134,335
PNI Pinnacle Investment 10.6 -2.66 247,157 $2,191,765,570
BRN Brainchip Ltd 0.6675 -2.55 3,676,815 $1,203,515,306
IRE IRESS Limited 9.665 -2.47 165,533 $1,829,212,317
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Netwealth (ASX:NWL) fell 10% after reporting a slowdown in net FUA (funds under admin) inflows. Netwealth’s FUA rose by just 7.4% to $62.4bn in the half year period.

AGL Energy (ASX:AGL) fell half percent after announcing a new CEO and internal pick, Damien Nicks.

Santos (ASX:STO) was down 1.5% after a lower Q4 production due to reduced domestic gas volumes in WA.