ASX closed 1pc higher after US CPI-fuelled rally. Picture Getty
ASX Large Caps: Shares climb 1.3pc to highest in two months; Centuria, Nufarm, Seek the top winners
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- ASX closed 1pc higher after US CPI-fuelled rally
- All sectors rose except for energy which was dragged down by Karoon Energy
- Centuria Cap was best large cap today after closing a property deal
The ASX200 index clocked a +1.3% rise on Wednesday to its highest level in two months, on the back of a strong Wall Street session overnight.
In New York, stocks rose broad-based after US inflation came in lower than expected at 3.2% for October, down from the 3.7% figure in September.
Traders are also bullish about the meeting between US President Joe Biden and China’s President Xi Jinping, who is expected to land in San Francisco later today.
On the ASX, all sectors rose except for Energy.
Best performing large caps include Seek (ASX:SEK), Wisetech (ASX:WTC) and Nufarm (ASX:NUF). Most lithium stocks also rose broadly.
Worst performer was Karoon Energy (ASX:KAR), down over 10% before placing its shares in a trading halt pending the release of an announcement.
To commodities, iron ore futures in Singapore hit $US130 a tonne to the highest since March, defying the gloom in China’s property sector.
The Aussie dollar has also bounced back above US65c after the CPI release.
To data, the wages index released today by the ABS showed that wages in Australia grew 1.3% over the September quarter, the biggest quarterly increase in the 26-year history of the ABS stats on Wage Index.
“A combination of factors led to widespread increases in average hourly wages this quarter,” said Michelle Marquardt, ABS head of prices statistics. Among others, she cited inflation, labour market pressure, and aged-care wage rises.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| CNI | Centuria Capital | 1.43 | 12.65 | 1,353,661 | $1,018,417,002 |
| APM | APM Human Services | 1.54 | 10.39 | 3,682,491 | $1,279,468,815 |
| CHC | Charter Hall Group | 10.96 | 9.93 | 1,362,302 | $4,715,782,074 |
| NUF | Nufarm Limited | 4.84 | 8.65 | 1,558,033 | $1,697,333,227 |
| PNI | Pinnacle Investment | 9.14 | 8.42 | 394,176 | $1,710,688,477 |
| HMC | HMC Capital Limited | 5.11 | 8.39 | 294,526 | $1,641,768,016 |
| GPT | GPT Group | 4.19 | 6.89 | 4,418,384 | $7,509,063,526 |
| GOZ | Growthpoint Property | 2.40 | 6.67 | 581,496 | $1,696,166,582 |
| 360 | Life360 Inc. | 8.94 | 6.56 | 1,412,197 | $1,700,386,836 |
| SGP | Stockland | 4.04 | 6.32 | 6,147,116 | $9,071,252,316 |
| GMD | Genesis Minerals | 1.54 | 6.23 | 3,050,993 | $1,555,389,305 |
| CTT | Cettire | 3.09 | 6.19 | 854,543 | $1,109,403,220 |
| MIN | Mineral Resources. | 63.51 | 6.17 | 745,861 | $11,676,052,123 |
| WTC | Wisetech Global Ltd | 66.94 | 6.09 | 486,443 | $21,032,194,799 |
| SEK | Seek Limited | 23.30 | 5.96 | 779,589 | $7,833,281,978 |
| ASK | Abacus Storage King | 1.08 | 5.88 | 972,318 | $1,340,385,021 |
| VCX | Vicinity Centres | 1.88 | 5.76 | 7,592,928 | $8,103,050,137 |
Centuria Capital (ASX:CNI) was the best-performing large cap today, up 10% after securing a $70.6 million industrial logistics facility in North Rocks, NSW, on behalf of US private investment firm, Starwood Capital’s Last Mile Logistics Partnership (LMPLP).
The acquisition, located at 19-21 Loyalty Road, is a dual access, multi-tenanted industrial facility totalling 19,231sqm with a low site coverage of c.41%.
Fertiliser company Nufarm (ASX:NUF) jumped 9% after posting a strong full year. NUF’s statutory NPAT was $111 million, up 3% on the pcp. The company also reported an unfranked final dividend of 5 cents per share.
Family safety service app maker, Life360 (ASX:360), gained 7% after reporting a 38% increase in Q3 revenue to $78.6m. Major gains were made in the core Life360 Subscription, with revenue of $50.6 million, up 50% YoY.
Life360 has also reiterated its full year CY23 guidance, which is for more than 50% YoY growth for the Life360 subscription revenue, and consolidated revenue of $300 million – $310 million.
Seek (ASX:SEK) climbed 6% on the back of its guidance announced at the AGM today. Seek said its FY24 forecast is unchanged at a revenue of between $1.18-$1.26bn.
Lithium miner Allkem (ASX:AKE) rallied 5% after confirming that it has received Australian Foreign Investment Review Board approval for the proposed $16 billion merger with Livent. Allkem and Livent are targeting closing of the transaction on 4 January 2024.
BIG CAP LOSERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| KAR | Karoon Energy Ltd | 2.15 | -10.42 | 3,367,541 | $1,359,648,022 |
| CPU | Computershare Ltd | 23.46 | -5.35 | 1,272,241 | $14,960,412,946 |
| QBE | QBE Insurance Group | 14.98 | -4.71 | 2,693,094 | $23,484,348,673 |
| SNZ | Summerset Grp Hldgs | 8.79 | -4.35 | 10,169 | $2,153,045,901 |
| IPH | IPH Limited | 6.78 | -3.35 | 806,623 | $1,682,553,084 |
| FLT | Flight Centre Travel | 18.83 | -3.19 | 1,382,757 | $4,268,563,811 |
| IAG | Insurance Australia | 5.80 | -2.85 | 7,323,472 | $14,495,148,317 |
| ABC | Adbri Limited | 2.01 | -2.67 | 571,622 | $1,345,858,859 |
| SDF | Steadfast Group Ltd | 5.41 | -2.61 | 611,203 | $5,764,018,517 |
| BOE | Boss Energy Ltd | 4.31 | -2.05 | 1,335,088 | $1,552,907,682 |
| STO | Santos Ltd | 7.14 | -1.92 | 6,031,158 | $23,643,787,156 |
| BXB | Brambles Limited | 13.44 | -1.83 | 1,579,802 | $19,049,240,002 |
| ALL | Aristocrat Leisure | 39.15 | -1.79 | 1,954,316 | $25,851,605,267 |
| AUB | AUB Group Ltd | 28.81 | -1.77 | 131,364 | $3,179,536,835 |
| TUA | Tuas Limited | 2.22 | -1.77 | 54,309 | $1,050,809,421 |
| MAD | Mader Group Limited | 6.31 | -1.56 | 171,114 | $1,282,000,000 |
| SUN | Suncorp Group Ltd | 13.44 | -1.54 | 1,788,837 | $17,339,086,046 |
| MPL | Medibank Private Ltd | 3.54 | -1.26 | 2,334,527 | $9,859,331,599 |
| WHC | Whitehaven Coal | 6.83 | -1.16 | 3,628,961 | $5,780,911,417 |
Poker machine giant Aristocrat Leisure (ASX:ALL) was down 2% despite posting full-year net profit of $1.2 billion. The company said that growth in its North America business offset challenging markets back home in Australia and New Zealand.
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