ASX Large Caps: Local shares higher as risk appetite stages a (temporary?) comeback

Ongoing clashes in the Ukraine and the West’s response to Russia continue to drive market sentiment.

After a big rally in the US on Friday where we saw S&P 500 rising by 2%, Australian shares closed by 0.44% higher today.

Investors are cautiously optimistic about the potential for a Russia-Ukraine dialogue, while digesting the likely impact of the latest round of sanctions imposed on Russia.

The US and European countries have practically smothered Russia’s ability to taps its funds overseas by cutting the country off from the SWIFT banking system, and freezing the assets of its central bank.

US 10-year treasury and Aussie yields have fallen through the afternoon session, signifying traders’ belief that central banks will not move as aggressively in the face of an ongoing war.

Oil has retreated to below US$100 at around US$98/barrel, while gold prices are back below the $1900 level as risk appetite returns, albeit temporarily.

On the ASX, Energy and Mining sectors were the top performers today, up by around 2%, while Financials was the worst, down almost 1%.

At the time of writing however, US stock futures are showing 2% lower.

BIG CAP WINNERS

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Code	Name	Price	% Change	Volume	Market Cap
JLG	Johns Lyng Group	7.61	8.1%	1,519,343	$1,824,733,321
BKL	Blackmores Limited	80.95	7.5%	101,109	$1,459,827,566
LYC	Lynas Rare Earths	10.15	6.1%	6,094,121	$8,636,078,572
BSL	BlueScope Steel Ltd	20.17	5.9%	1,844,489	$9,338,528,770
AVZ	AVZ Minerals Ltd	0.785	5.4%	31,683,273	$2,571,786,995
GNC	GrainCorp Limited	8.395	4.9%	2,362,128	$1,830,845,024
ILU	Iluka Resources	10.65	4.9%	1,729,693	$4,295,503,771
GOR	Gold Road Res Ltd	1.525	4.8%	2,640,398	$1,283,850,017
CEN	Contact Energy Ltd	7.54	4.7%	15,017	$1,772,551,346
ZIM	Zimplats Holding Ltd	25.3	4.5%	5,545	$2,605,907,482
IVC	InvoCare Limited	12.92	4.4%	522,113	$1,782,031,267
MPL	Medibank Private Ltd	3.18	4.3%	6,894,188	$8,399,709,882
S32	South32 Limited	4.81	4.1%	13,149,721	$21,482,680,079

Dicker Data (ASX:DDR) has continued its strong momentum, after reporting a calendar 2021 increase in net profit of 28% to $73.6m, as sales climbed 24.2% to $2.48 billion.

Dicker announced a dividend of 42c a share, but did not provide guidance.

BIG CAP LOSERS

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Code	Name	Price	% Change	Volume	Market Cap
WTN	Winton Land	3.2	-13.5%	8,371	$1,097,470,823
360	Life360 Inc.	5.17	-9.5%	2,309,708	$1,046,288,717
AX1	Accent Group Ltd	1.87	-6.5%	4,459,671	$1,083,733,430
FCL	Fineos Corp Hold PLC	3.1	-6.1%	102,235	$1,053,132,739
TLX	Telix Pharmaceutical	4.905	-5.5%	2,326,495	$1,599,558,939
CCP	Credit Corp Group	30.47	-4.9%	161,259	$2,173,346,219
HSN	Hansen Technologies	4.89	-4.7%	262,208	$1,029,446,001
SFR	Sandfire Resources	6.69	-4.4%	3,877,125	$2,869,873,251
IAG	Insurance Australia	4.59	-4.2%	11,427,800	$11,807,829,987
CDA	Codan Limited	7.3	-3.8%	832,286	$1,372,909,067
SUN	Suncorp Group Ltd	10.71	-3.8%	5,197,498	$14,052,793,383
DMP	Domino Pizza Enterpr	79.15	-3.7%	651,802	$7,114,731,731
FLT	Flight Centre Travel	17.51	-3.7%	2,378,512	$3,630,390,779
WEB	Webjet Limited	5.3	-3.6%	2,472,604	$2,092,804,005
AZJ	Aurizon Holdings Ltd	3.5	-3.6%	5,177,857	$6,681,755,455
BRN	Brainchip Ltd	1.175	-3.3%	19,266,222	$2,082,950,005
XRO	Xero Ltd	93.08	-3.3%	485,071	$14,338,982,540

Real estate play Winton Land (ASX:WTN) was the biggest loser today, down 13.5%, after revising its half year results on Friday. The company has reaffirmed its FY22 NPAT guidance of $98.8m, after earlier reporting $8.8m.

Mobile app company Life360 Inc (ASX:360) was down by 9% on no news. Last week however, the company announced an EBITDA loss of US$(31.4)m (compared with US$(16.0)m in the pcp) on the back of rising revenue of US$112.6m.