• Shares finished flattish on Monday 
  • Gains in Healthcare were offset by losses in energy stocks
  • Endeavour (EDV) was the biggest loser today after poker machine decision in Victoria


Local shares closed flattish on Monday, tracking movements on Wall Street. Gains in ASX Healthcare were offset by losses Energy and Mining.

Market sentiment had a reality check today after data shows that China’s economy grew by just 0.8% in Q2 vs the previous quarter. The year-on-year growth came in at 6.3%, much lower than the 7.3% economists had predicted.

Trouble in the Chinese property market also deepened as investment in property development fell by 7.9% in Q2.

Some analysts however are still bullish on China.

“China is still slated to be the biggest contributor to global growth this year with other economies weakening, and further support from policymakers to the economy will solidify that growth in the second half of the year,” said Josh Gilbert, market analyst at eToro.

Oil and gas related stocks on the ASX mainly fell on the Chinese data and as crude prices tumbled almost 1% on Friday night.

Morgan Stanley says that a potentially mild winter in Europe combined with the continent’s high stockpiles could reduce natural gas prices in half.

Elsewhere, the Hong Kong stockmaket was suspended today after the first T8 warning signal of the year as Typhoon Talim approaches the city.



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Code Name Price % Change Volume Market Cap
YAL Yancoal Aust Ltd 5.00 4.82 1,758,893 $6,298,496,114
MPL Medibank Private Ltd 3.48 3.88 4,118,175 $9,225,910,854
MAD Mader Group Limited 6.08 3.40 106,882 $1,176,000,000
WHC Whitehaven Coal 6.84 2.86 5,851,074 $5,563,395,214
TNE Technology One 15.97 2.80 967,433 $5,042,198,526
DHG Domain Holdings Aus 3.84 2.54 348,754 $2,362,397,752
PNV Polynovo Limited 1.63 2.52 1,114,928 $1,094,018,910
HMC HMC Capital Limited 5.18 2.48 348,360 $1,755,445,943
HGH Heartland Group 1.73 2.37 296 $1,199,322,358
NHC New Hope Corp 4.91 2.29 1,833,215 $4,235,492,664
HLI Helia Group Limited 3.58 2.29 454,196 $1,105,830,901
CCP Credit Corp Group 21.35 2.25 112,151 $1,421,235,953
APM APM Human Services 2.12 2.17 579,777 $1,898,566,628
IPH IPH Limited 8.11 2.14 154,581 $1,864,754,568
MAQ Macquarie Technology 66.39 2.12 18,636 $1,582,620,863
IPL Incitec Pivot 2.93 2.09 3,980,621 $5,574,185,833
NWL Netwealth Group 13.96 2.05 220,310 $3,336,430,152
SMR Stanmore Resources 2.57 1.98 755,357 $2,271,506,918
JDO Judo Cap Holdings 1.33 1.92 4,775,773 $1,442,703,433
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Whitehaven Coal (ASX:WHC) rose after releasing its June quarterly report.

During the quarter, Whitehaven achieved an average coal price of $264/t and $445/t for FY23. June quarter managed run-of-mine (ROM) production of 5.1Mt was up 19% on the March quarter and FY23 managed ROM coal production of 18.2Mt was within guidance of 18.0-19.2Mt.

FY23 managed sales of produced coal of 16.0Mt was within guidance of 15.3-16.0Mt.

Technology One (ASX:TNE) rallied after announcing that Paul Jobbins has resigned as Chief Financial Officer after almost five years in the role. He will also resign as a registered Company Secretary.

Jobbins will be replaced by Cale Bennett, who was most recently the Global CFO for Corporate Travel Management (ASX:CTD).



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Code Name Price % Change Volume Market Cap
EDV Endeavour 5.62 -10.22 20,992,999 $11,211,534,906
VSL Vulcan Steel 8.12 -5.36 138,101 $1,127,485,548
SYA Sayona Mining Ltd 0.18 -5.26 40,179,605 $1,907,436,225
IGO IGO Limited 15.42 -4.34 3,539,367 $12,207,157,146
PDN Paladin Energy Ltd 0.75 -4.14 7,923,202 $2,340,186,223
GQG GQG Partners 1.56 -3.70 1,173,608 $4,783,544,803
NIC Nickel Industries 0.88 -3.57 4,093,533 $2,752,074,118
LLL Leolithiumlimited 1.15 -3.38 6,707,334 $1,169,873,447
CXO Core Lithium 0.95 -3.30 6,599,697 $1,830,639,042
CNI Centuria Capital 1.68 -2.75 766,572 $1,383,648,454
MEZ Meridian Energy 5.04 -2.70 26,063 $6,550,081,344
LTR Liontown Resources 2.84 -2.58 2,949,557 $6,408,563,755
LIC Lifestyle Communit. 16.52 -2.57 93,504 $1,772,039,970
RDX Redox Limited 2.28 -2.56 415,136 $1,228,690,542
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Australia’s biggest pub owner Endeavour Group (ASX:EDV) fell heavily after acknowledging the announcement made by the Victorian Government on Sunday that gamblers will be restricted to a $100 limit on poker machines in the State.

Under the reform, gamblers will be permitted to put a maximum of $100 into an electronic gaming machine at one time, which is down from the current limit of $1,000.

In addition, all venues with poker machines except for Crown Casino will be required to shut down gaming areas between 4am and 10am.

“There is still a great deal of detail to work through including implementation timelines – and so it is very difficult to speculate on the impact of these reforms at this time,” said a statement from EDV.

Meridian Energy (ASX:MEZ) fell after announcing an update on the construction progress of its Harapaki wind farm in Hawke’s Bay, NZ.

In February, Cyclone Gabrielle caused widespread and extensive damage to East Coast regions of the country. The site experienced damage to access roading and impacts to the civil construction programme. The transmission grid in Hawke’s Bay also suffered significant damage during the cyclone.

Waka Kotahi has now advised that completion of the necessary repairs on State Highway 5 mean the transportation of componentry can now begin and Siemens Gamesa expects this to start from 20 July.

Meridian also stated that it does not currently expect the delay caused by Cyclone Gabrielle to have any significant impact on the project capital costs of $448 million.

Vulcan Steel (ASX: VSL) also fell after downgrading its full year earnings from $215-230m to $205-209m.

“Market conditions remain uncertain in the near term, with potential for further weakness, especially in New Zealand ahead of the upcoming general election,” said Vulcan Steel CEO, Rhys Jones.