Local shares jumped 1.5pc as inflation eases to 4.9pc, pushing the case for an RBA pause. Pic via Getty Images
News
The ASX rallied by almost by 1.5% on Wednesday, tracking movements on Wall Street overnight.
All sectors rose with the exception of Utilities – with Industrials, Healthcare and Real Estate leading the session today.
Equity markets were bolstered overnight after data showed that the US jobs market was cooling, boosting the case for a soft landing and a pause in Fed’s policy.
The market was further buoyed today as Australia’s inflation came down from 5.4% in June to 4.9% in July, the lowest in 17 months. The market was expecting 5.2%.
According to the ABS, prices for petrol, fruit and veggies have dropped over the year, but electricity bills rose sharply by 15.7% from a year ago in July.
ASX-listed REITs rose after the release, while the AUD dropped around 0.5% to US64.71c.
To stock news, once-market-darling Chalice Mining (ASX:CHN) cratered 25% today after the release of its Gonneville Project scoping study after hours yesterday.
Despite Chalice saying that the project would pay back in two years, investors had focused on its lower-than-expected production of nickel and the high assumptions used in projected commodity prices.
Elsewhere, OpenAI is reportedly on track for $1 billion in sales revenue as businesses start to adopt ChatGPT and the technology behind it. According to reports, the Microsoft-backed startup is currently earning around US$80 million of revenue monthly.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BXB | Brambles Limited | 15.21 | 7.49 | 3,428,396 | $19,658,723,496 |
| HLS | Healius | 2.91 | 7.20 | 3,194,246 | $1,543,880,011 |
| SIQ | Smartgrp Corporation | 8.34 | 6.45 | 599,147 | $1,046,643,155 |
| ASK | Abacus Storage King | 1.27 | 5.83 | 412,998 | $1,576,923,554 |
| APE | Eagers Automotive | 15.82 | 5.82 | 733,470 | $3,840,661,130 |
| DDR | Dicker Data Limited | 8.86 | 5.35 | 482,212 | $1,515,180,914 |
| SDR | Siteminder | 4.80 | 5.26 | 777,359 | $1,254,301,443 |
| APM | APM Human Services | 1.89 | 5.01 | 1,444,356 | $1,646,341,593 |
| MMS | McMillan Shakespeare | 18.25 | 5.01 | 194,451 | $1,210,395,757 |
| JLG | Johns Lyng Group | 6.34 | 4.79 | 1,864,131 | $1,671,708,999 |
| RMS | Ramelius Resources | 1.37 | 4.79 | 5,777,532 | $1,293,644,122 |
| IPH | IPH Limited | 7.71 | 4.61 | 639,097 | $1,735,979,857 |
| LOV | Lovisa Holdings Ltd | 22.39 | 4.41 | 288,986 | $2,311,915,143 |
| SYA | Sayona Mining Ltd | 0.12 | 4.35 | 60,972,679 | $1,183,729,042 |
| IRE | IRESS Limited | 6.52 | 4.32 | 1,013,544 | $1,167,434,213 |
| CCP | Credit Corp Group | 21.13 | 4.29 | 159,288 | $1,379,034,503 |
| LIC | Lifestyle Communit. | 17.75 | 4.23 | 97,265 | $1,780,403,581 |
Transport and logistics group Brambles (ASX:BXB) jumped 7% after reporting that its full year profit lifted by 19% to $US703.3m. This was on the back of $6.076bn in sales, up 14% on pcp on constant currency. For FY24, Brambles expects sales revenue growth of between 6-8%, underlying profit growth of between 9-12%, and positive free cash flow before dividends of between US$450-550 million.
Dicker Data (ASX:DDR) rose after reporting first half revenue of $1.107bn, up 5.3% on pcp. NPAT was $54.1m, up 7.8% on pcp, but operating costs have increased by $16.1m or 23.3% on pcp. Dicker says the highly-diverse nature of the company’s vendor and technology portfolios enabled it to offset declines in other segments.
Pathology services company Healius (ASX:HLS) rose despite declaring a $368 million loss for the full year driven by massive impairments to its pathology business. CEO Maxine Jaquet said that Healius is now well positioned for growth after a year in which the company had transitioned back to business-as-usual operations, had reset its strategy, leadership team and cost base.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| CHN | Chalice Mining Ltd | 3.84 | -23.81 | 15,083,228 | $1,954,119,777 |
| BLD | Boral Limited | 4.62 | -8.15 | 15,534,215 | $5,548,534,748 |
| ABC | Adbri Limited | 2.21 | -5.56 | 5,521,876 | $1,528,791,131 |
| FLT | Flight Centre Travel | 21.41 | -3.03 | 1,791,293 | $4,815,725,810 |
| KLS | Kelsian Group Ltd | 6.47 | -2.49 | 1,724,317 | $1,784,913,391 |
| AZS | Azure Minerals | 2.47 | -1.98 | 2,449,137 | $1,088,956,852 |
| GNE | Genesis Energy Ltd | 2.21 | -1.78 | 17,238 | $2,396,861,917 |
| AD8 | Audinate Group Ltd | 13.93 | -1.76 | 256,181 | $1,102,049,223 |
| HSN | Hansen Technologies | 5.38 | -1.65 | 544,502 | $1,110,739,491 |
| AWC | Alumina Limited | 1.05 | -1.64 | 10,775,407 | $3,090,290,709 |
| ING | Inghams Group | 3.50 | -1.27 | 1,353,280 | $1,315,745,788 |
| IEL | Idp Education Ltd | 25.16 | -1.22 | 665,966 | $7,089,223,294 |
| PLS | Pilbara Min Ltd | 4.69 | -1.16 | 25,191,335 | $14,236,866,470 |
Flight Centre (ASX:FLT) fell despite reporting a big turnaround in its profits in FY23. Full year underlying EBITDA was $301.6m, a big swing from a loss of $183.1m in FY22.
“Looking ahead to FY24, we are well placed to capitalise on opportunities that will arise as industry recovery continues,” said CEO, Graham Turner.
News
News
News
Get the latest Stockhead news delivered free to your inbox.
