Local shares down -0.25pc on Friday, -1.9pc for the week. Picture Getty
ASX Large Caps: Shares 1.9pc lower this week; Costa agrees to takeover bid, and a blow for cannabis
News
share
- Local shares down -0.15pc on Friday, -1.9pc for the week
- Energy stocks gained along with lithium stocks
- Aussie bond yields jumped to highest in 10 weeks
Local shares trimmed early losses and ended the day +0.05% higher, a small win at the end of a week that saw the benchmark lose 1.9% thanks to serious wobbles on Wall Street.
Energy and Utility stocks gained, while Real Estate and Info Tech were the laggards.
Energy stocks rose after Brent futures jumped by around 0.5% in Asian hours. Crude prices have risen by more than 10% in the past week.
Lithium stocks also rallied, with Pilbara Minerals (ASX:PLS) and Allkem (ASX:AKE) leading the charge.
Contract labour company Mader Group (ASX:MAD) had the steepest fall, down over 5%.
Meanwhile, the Aussie bond market had a volatile day with yields jumping to a decade high. This came following a sharp rise in US Treasury yields this week after the Fed’s hardened stance on rates.
Elsewhere, the Bank of Japan held its ultra-low interest rates today, keeping the cash rate at 0.1%.
And in a blow to the cannabis industry, Thailand’s new prime minister has vowed to restrict the use of marijuana for medical purposes.
“The law will need to be rewritten,” PM Srettha Thavisin said, adding that he will also ban cannabis for recreational use.
BIG CAP WINNERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| CGC | Costa Group Holdings | 3.09 | 6.55 | 27,142,119 | $1,347,658,400 |
| PLS | Pilbara Min Ltd | 4.23 | 6.16 | 50,843,637 | $11,969,036,046 |
| MCY | Mercury NZ Limited | 5.82 | 4.30 | 4,006 | $7,740,398,456 |
| QBE | QBE Insurance Group | 15.77 | 3.48 | 3,781,245 | $22,739,379,103 |
| AKE | Allkem Limited | 12.03 | 3.35 | 4,718,065 | $7,441,699,851 |
| MMS | McMillan Shakespeare | 16.51 | 3.19 | 135,799 | $1,114,288,384 |
| IFL | Insignia Financial | 2.47 | 3.14 | 1,581,484 | $1,583,609,798 |
| CGF | Challenger Limited | 6.44 | 3.13 | 2,960,228 | $4,311,028,644 |
| MIN | Mineral Resources. | 68.95 | 2.83 | 1,163,383 | $13,083,847,009 |
| SKC | Skycity Ent Grp Ltd | 1.78 | 2.60 | 583,779 | $1,315,155,012 |
| IPH | IPH Limited | 7.33 | 2.59 | 1,768,766 | $1,693,460,559 |
| CMW | Cromwell Prop | 0.41 | 2.50 | 2,954,600 | $1,047,546,680 |
| VEA | Viva Energy Group | 2.92 | 2.28 | 5,991,415 | $4,400,873,804 |
| NUF | Nufarm Limited | 4.74 | 2.27 | 1,918,383 | $1,761,857,386 |
| VNT | Ventiaservicesgroup | 2.76 | 2.22 | 2,899,149 | $2,309,808,002 |
| SFR | Sandfire Resources | 6.23 | 2.22 | 1,165,096 | $2,782,471,842 |
| CTD | Corp Travel Limited | 16.80 | 2.13 | 488,810 | $2,407,058,522 |
| ALD | Ampol Limited | 33.40 | 2.11 | 556,543 | $7,794,861,658 |
| MEZ | Meridian Energy | 4.90 | 2.08 | 29,264 | $6,069,573,446 |
Horticultural company Costa Group (ASX:CGC) jumped 6% after accepting a $3.20 cash per share takeover offer by US private equity firm Paine Schwartz Partners.
News Corp (ASX:NWS) rose after Rupert Murdoch stepped down as Fox and News Corp chairman and named his son Lachlan to take over as sole chairman of both companies.
Mineral Resources (ASX:MIN) gave an update on its Mt Marion and Wodgina lithium deposits, and Ken’s Bore iron ore deposit. The announcement includes Mt Marion Ore Reserve of 35.7Mt at 1.42% Li2O, representing a significant 107% increase from June 2022.
BIG CAP LOSERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MAD | Mader Group Limited | 6.37 | -6.32 | 400,722 | $1,360,000,000 |
| IEL | Idp Education Ltd | 22.20 | -5.09 | 1,325,843 | $6,510,283,975 |
| CTT | Cettire | 2.85 | -4.85 | 2,407,386 | $1,139,902,278 |
| OCL | Objective Corp | 11.32 | -4.07 | 27,232 | $1,123,345,285 |
| SDR | Siteminder | 4.58 | -3.38 | 146,195 | $1,303,813,342 |
| NEU | Neuren Pharmaceut. | 10.41 | -3.16 | 465,498 | $1,360,581,017 |
| RRL | Regis Resources | 1.55 | -3.13 | 5,874,053 | $1,208,542,093 |
| MGR | Mirvac Group | 2.14 | -2.95 | 8,855,355 | $8,680,892,477 |
| EMR | Emerald Res NL | 2.60 | -2.81 | 805,388 | $1,592,943,186 |
| HUB | HUB24 Ltd | 33.39 | -2.79 | 101,431 | $2,799,605,310 |
| CNI | Centuria Capital | 1.42 | -2.74 | 725,669 | $1,175,406,184 |
| SGR | The Star Ent Grp | 0.74 | -2.63 | 6,331,327 | $1,230,197,467 |
| HDN | Homeco Daily Needs | 1.20 | -2.63 | 1,889,638 | $2,565,065,277 |
| HMC | HMC Capital Limited | 4.92 | -2.57 | 417,574 | $1,760,282,055 |
| SQ2 | Block | 71.44 | -2.48 | 155,028 | $2,351,620,286 |
| CWY | Cleanaway Waste Ltd | 2.42 | -2.02 | 1,856,768 | $5,501,624,134 |
Read MoreLarge Cap
