• ASX climbed 0.4% on Tuesday ahead of the Fed’s rates decision
  • Miners lifted, offset by broad brushed losses in other sectors
  • ASIC will take Vanguard to court over greenwashing

 

Local shares jumped by almost 0.5% on Tuesday as broad-based losses were offset by gains in the Mining sector.

Miners climbed on the back of Pilbara Minerals (ASX:PLS)’s 6% jump following its quarterly update (more details below).

Fortescue Metals (ASX:FMG) also rallied 5% as Twiggy Forrest remained in the US to promote his green hydrogen initiative.

BHP (ASX:BHP) rose 4% as  iron-ore futures traded around 1.5% higher on the Singapore exchange.

Core Lithium (ASX:CXO) however  extended yesterday’s losses by another 4% after declaring that its Finniss lithium mine in the NT would significantly underperform the initial DFS.

Elsewhere, ASIC has accused fund manager Vanguard of greenwashing and misleading investors in its $1bn Ethically Conscious Global Aggregate Bond Index Fund (ASX:VEFI).

The corporate regulator said that it will take investment giant to court, as the VEFI fund rose +0.4% today.

Meanwhile, the Fed Reserve is set to make its interest rates decision later tonight.

Although a 25bp increase is already priced in, the Fed could still surprise some who are lulled into imagining that interest rates would stop climbing.

“The Fed is likely to feel emboldened to go all the way to get inflation back to its 2% target,” said Diane Swonk, chief economist at KPMG.

 

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
MND Monadelphous Group 13.16 5.28 213,679 $1,206,310,000
PLS Pilbara Min Ltd 4.83 5.12 28,668,979 $13,761,680,538
SFR Sandfire Resources 6.05 5.03 1,945,254 $2,631,697,505
CHN Chalice Mining Ltd 5.88 5.00 1,877,923 $2,171,244,197
SYA Sayona Mining Ltd 0.16 5.00 32,924,148 $1,532,979,637
CIA Champion Iron Ltd 5.93 4.96 1,176,569 $2,922,141,162
PRU Perseus Mining Ltd 1.77 4.73 2,825,370 $2,311,897,777
FMG Fortescue Metals Grp 23.23 4.66 6,211,965 $68,322,231,530
S32 South32 Limited 3.88 4.30 12,952,979 $16,908,938,945
LFG Liberty Fin Group 3.89 4.16 38,973 $1,133,188,446
MIN Mineral Resources. 71.13 4.13 821,598 $13,284,972,792
BHP BHP Group Limited 46.10 3.96 6,497,638 $224,618,483,453
ILU Iluka Resources 10.89 3.57 724,685 $4,477,394,591
RIO Rio Tinto Limited 119.21 3.44 1,194,649 $42,782,668,664
APM APM Human Services 2.02 3.32 382,999 $1,793,090,704
DHG Domain Holdings Aus 3.91 3.31 619,891 $2,387,664,038
YAL Yancoal Aust Ltd 5.12 3.13 1,850,834 $6,549,379,608
AKE Allkem Limited 15.53 3.09 3,621,770 $9,603,130,775
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Pilbara Minerals (ASX:PLS) continues to print cash in the June quarter, boosting its bank balance by 24% to $3.3 billion after selling 176,300t of spodumene in the fourth quarter, an increase of 22%.

PLS sold that cargo at US$3256/dmt on a 5.3% Li2O basis — a grade profile becoming more common at current prices due to the higher recoveries at that level — equivalent to US$3714/dmt on a 6% basis. That was 33% down on the March quarter.

NOW READ: Ground Breakers: Everyone wants a chunk of Pilbara Minerals’ lithium expansion

Engineering group Monadelphous (ASX:MND) rose after securing a major construction contract with Albemarle associated with the Kemerton lithium hydroxide plant, valued at approximately $200 million.

The contract includes front-end pyromet structural, mechanical, piping, electrical and instrumentation works associated with two new lithium processing trains.

Northern Star Resources (ASX:NST) has completed the transaction with Strickland Metals (ASX:STK) for the acquisition of the Strickland’s interests in the tenements comprising the Millrose gold project.

Strickland has received a further $39 million in cash, and has been issued 1.5 million fully paid ordinary NST shares.

 

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
MSB Mesoblast Limited 1.19 -6.67 3,179,638 $1,038,111,152
DMP Domino Pizza Enterpr 47.19 -5.24 334,977 $4,436,702,020
CCP Credit Corp Group 22.11 -4.20 179,839 $1,570,983,036
CXO Core Lithium 0.69 -4.17 59,985,517 $1,338,132,092
NUF Nufarm Limited 5.38 -3.15 755,615 $2,111,945,679
INA Ingenia Group 4.00 -2.91 368,372 $1,679,243,048
HLS Healius 2.87 -2.71 749,858 $1,680,607,392
360 Life360 Inc. 7.62 -2.56 309,880 $1,567,865,512
SGR The Star Ent Grp 1.06 -2.31 3,122,303 $1,748,175,347
NAN Nanosonics Limited 4.65 -2.31 293,573 $1,439,023,018
CMW Cromwell Prop 0.55 -2.21 1,093,197 $1,479,659,685
MGR Mirvac Group 2.28 -2.15 5,666,125 $9,193,854,306
MMS McMillan Shakespeare 18.31 -2.09 104,000 $1,302,324,549
DDR Dicker Data Limited 7.61 -2.06 350,177 $1,399,875,826
PXA Pexagroup 12.65 -1.86 562,768 $2,285,729,407
BOQ Bank of Queensland. 5.83 -1.85 1,912,677 $3,903,871,540
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Strike Energy (ASX:STK) released a statement to confirm that it is pursuing an acquisition of Talon Energy (ASX:TPD).

Strike has proposed 0.4586 Strike shares for every Talon share held, and an ownership interest in Talon’s Mongolian assets pro rata to their shareholdings in Talon.

Read MoreLarge Cap

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