- Local shares down another -0.7pc today
- Core Lithium fell over 20pc on cap raise news
- The AUD pummelled to below US64c
The ASX 200 has extended yesterday’s 1.5% loss by another 0.5% on Thursday, weighed by Healthcare,Tech and Mining sectors.
Core Lithium (ASX:CXO) was the worst performer today, tumbling -23% after announcing it had wrapped up a $100 million placement to domestic and offshore instos at 40c per share, with a $20m SPP also launched to restock the Finniss lithium project owner’s coffers.
The Aussie dollar meanwhile breached the US64c level, trading several minutes ago at US63.8c to a 9-month low and dragging the NZD alongside it following a weak jobs report.
According to ABS data today, Australia’s jobless rate jumped in July to 3.7% from 3.5% a month ago, signalling a possible turning point in the RBA’s monetary policy.
“Cracks are finally appearing in the employment data, and that should clear up any doubt over whether the RBA is done hiking,” said Matt Simpson, senior market analyst at City Index.
Elsewhere, China’s privately held shadow banking giant Zhongzhi Enterprise has reportedly hired KPMG to review its balance sheet amid a plan to restructure its debt.
According to Bloomberg, the Beijing-based company also plans to sell assets after the review in order to repay investors. The company had missed payments on dozens of its investment products since the end of July.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ING | Inghams Group | 3.19 | 14.75 | 4,179,123 | $1,033,269,291 |
| IPH | IPH Limited | 8.15 | 11.27 | 1,468,802 | $1,719,144,009 |
| ORA | Orora Limited | 3.75 | 5.04 | 4,510,756 | $3,017,905,890 |
| HDN | Homeco Daily Needs | 1.16 | 4.98 | 2,540,075 | $2,292,176,944 |
| MP1 | Megaport Limited | 10.87 | 4.72 | 709,194 | $1,648,162,765 |
| GMG | Goodman Group | 20.63 | 4.43 | 4,342,372 | $37,205,442,689 |
| CAR | Carsales.Com Ltd. | 27.73 | 3.70 | 1,229,299 | $10,073,855,047 |
| SUL | Super Ret Rep Ltd | 13.79 | 3.34 | 1,873,076 | $3,012,525,510 |
| ASK | Abacus Storage King | 1.21 | 3.21 | 1,054,134 | $1,537,500,466 |
| ARB | ARB Corporation. | 33.35 | 2.46 | 155,495 | $2,672,332,182 |
| IEL | Idp Education Ltd | 22.81 | 2.45 | 575,524 | $6,195,764,057 |
| SVW | Seven Group Holdings | 26.94 | 2.36 | 1,013,687 | $9,561,018,676 |
| MPL | Medibank Private Ltd | 3.52 | 2.33 | 4,724,142 | $9,473,771,146 |
| CDA | Codan Limited | 8.39 | 2.19 | 482,281 | $1,487,390,052 |
| CPU | Computershare Ltd | 24.61 | 2.10 | 1,451,432 | $14,549,876,998 |
| AMP | AMP Limited | 1.25 | 2.04 | 8,560,096 | $3,428,285,565 |
| NWL | Netwealth Group | 14.80 | 2.00 | 190,786 | $3,538,859,759 |
Inghams (ASX:ING) was the best performer today, up 14% after reporting full year EBITDA of $418.5m, up 13% on the pcp. NPAT was $60.4m, an increase of 72.1% on pcp. The company declared a final fully franked dividend of 10 cents per share.
Origin Energy (ASX:ORG) rose 2% after posting an 83.5% increase in full-year net profit, as well as a net income of over $1 billion. Origin said its gross profit doubled as gas rose from $3.0/GJ to $5.1/GJ, despite declining volumes.
Goodman Group (ASX:GDG) was up 4% after delivering an operating profit of $1.783 billion, up 17% on FY22, and operating earnings per security (EPS) of 94.3 cents, up 16% on the same period last year. Statutory profit was $1.56 billion.
Seven Group (ASX:SVW) rose after reporting a 20% rose in full year revenue to $9,627b. NPAT was $654m, up 18% on pcp, while final dividend was 23 cents per share, fully franked.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SHL | Sonic Healthcare | 31.73 | -6.59 | 2,558,413 | $16,019,838,381 |
| SCG | Scentre Grp | 2.65 | -3.99 | 8,898,706 | $14,325,444,216 |
| RMD | ResMed Inc. | 27.02 | -4.76 | 4,888,082 | $12,106,513,370 |
| EVN | Evolution Mining Ltd | 3.35 | -5.24 | 5,430,714 | $6,477,607,606 |
| LTR | Liontown Resources | 2.54 | -5.22 | 14,829,595 | $5,902,044,970 |
| GQG | GQG Partners | 1.51 | -4.43 | 977,539 | $4,665,432,586 |
| DHG | Domain Holdings Aus | 3.79 | -7.11 | 2,839,819 | $2,577,161,184 |
| CHN | Chalice Mining Ltd | 5.00 | -6.37 | 1,818,474 | $2,070,436,431 |
| GOZ | Growthpoint Property | 2.54 | -3.79 | 575,479 | $1,990,168,789 |
| SGR | The Star Ent Grp | 1.05 | -5.41 | 7,963,504 | $1,796,735,773 |
| BGL | Bellevue Gold Ltd | 1.50 | -5.06 | 3,150,011 | $1,786,951,408 |
| APM | APM Human Services | 1.77 | -5.73 | 1,038,058 | $1,719,716,149 |
| CMM | Capricorn Metals | 3.93 | -4.61 | 963,175 | $1,548,947,681 |
| SYA | Sayona Mining Ltd | 0.12 | -8.00 | 53,802,730 | $1,286,662,002 |
| PNV | Polynovo Limited | 1.59 | -6.05 | 1,398,149 | $1,169,944,513 |
| ABG | Abacus Group | 1.09 | -5.24 | 1,489,767 | $1,023,237,990 |
| CXO | Core Lithium | 0.42 | -23.39 | 57,791,670 | $1,012,891,653 |
Telstra (ASX:TLS) fell 2.5% after deciding not to sell its InfraCo Fixed business for the time being. The telco also delivered a 13% increase in annual net profit to $2.05 billion.
Australia’s second biggest healthcare company Sonic Healthcare (ASX:SHL) dropped almost 6% today after total revenue fell 13% to $8.17 billion for the full year, driven by an 80% decrease in Covid-19 related revenue. NPAT also fell 53% to $685 million.
Evolution Mining (ASX:EVN) was down -5% after reporting statutory net profit after income tax of $163.5 million, around half of what it made in FY22. The company declared a fully franked final dividend of 2 cents per share, down from 3 cents the previous year.