Webjet makes a turnaround and ASX large caps roundup 17 Nov 2022. Picture Getty
ASX Large Caps: Shares flat, Webjet swings back to profit as bookings return to pre-pandemic levels
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- The ASX 200 seesawed and finished 0.1% higher on Thursday
- Webjet back to making profits
- Aussie unemployment at near 50-year low
The ASX 200 index closed 0.1% higher on Thursday after a strong jobs data.
Australia’s unemployment rate has edged lower again and back to its recent cyclical low of 3.4%, defying forecasts of 3.5% ~ 3.6%.
According to the ABS, around 32,000 jobs were added in October, leaving the jobless rate at a near 50-year low.
But pay rises are still lagging well behind the pace of inflation, with real wages dropping a record 4.2% for the year.
Losses in energy stocks today were offset by gains in Staples and Tech sectors. Overnight, energy stocks also paced Wall Street lower as oil prices fell almost 2%.
“It goes without saying that any significant escalation in the war in Ukraine will likely add a substantial risk premium to oil prices, with Russia being a major producer and exporter, as well as one of the leaders in the OPEC+ alliance,” said OANDA senior analyst, Craig Erlam.
Webjet (ASX:WEB) surged past 9% today after releasing its first half results.
Webjet’s half year bookings returned to pre-pandemic levels and increased by 137% to $3.4 billion. Bottom line NPAT was $32 million, marking a huge turnaround from its loss of $29.2 million a year ago.
CEO John Guscic said: “[This result] underpins the efforts we took as soon as the pandemic hit to ensure each business was optimally positioned to recapture demand once travel returned.”
In other news, billionaire Andrew Forrest’s Tattarang fund will commit $US500 million into rebuilding Ukraine’s energy and communications infrastructure.
“The price of reconstruction is growing with each new strike, that is why this project is so timely,” said Ukraine president Volodymyr Zelensky.
Elsewhere, Bitcoin has slipped by another 1% in the past hour to US$16,480 as the FTX contagion continues to cause jitters.
There are reports that crypto lender Genesis Global Trading is the latest firm to announce restrictions on redemptions.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| PDL | Pendal Group Ltd | 4.93 | 11% | 5,735,555 | $1,708,846,725 |
| WEB | Webjet Limited | 6.125 | 9% | 8,617,106 | $2,140,385,340 |
| DEG | De Grey Mining | 1.2375 | 4% | 4,014,298 | $1,848,057,170 |
| SNZ | Summerset Grp Hldgs | 8.85 | 4% | 1,223 | $1,979,957,106 |
| ZIM | Zimplats Holding Ltd | 26.31 | 3% | 16,712 | $2,737,225,414 |
| ALU | Altium Limited | 37.725 | 3% | 286,017 | $4,806,231,640 |
| PWH | Pwr Holdings Limited | 11.45 | 3% | 120,157 | $1,113,217,971 |
| OBL | Omni Bridgeway Ltd | 4.4 | 3% | 191,120 | $1,158,869,584 |
| FPH | Fisher & Paykel H. | 18.25 | 3% | 502,317 | $10,236,604,231 |
| AUB | AUB Group Ltd | 22.72 | 3% | 174,012 | $2,240,778,532 |
| LOV | Lovisa Holdings Ltd | 25.57 | 3% | 218,046 | $2,682,856,751 |
| MAQ | Macquarie Telecom | 55.19 | 3% | 6,518 | $1,160,858,861 |
| IRE | IRESS Limited | 9.85 | 2% | 202,910 | $1,773,837,575 |
| MXT | Metrics Master | 1.97 | 2% | 584,420 | $1,695,496,366 |
Seek (ASX:SEK) rose 1% after saying that it is on track to deliver FY23 guidance for revenue, EBITDA and NPAT for continuing operations.
Pendal Group (ASX:PDL) rose 10% after a NSW court ruled that Perpetual is liable beyond the break fee of $23m if it walks away from buying it.
BIG CAP LOSERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| PPT | Perpetual Limited | 27.16 | -14% | 1,352,432 | $1,809,790,840 |
| WHC | Whitehaven Coal | 8.15 | -6% | 8,531,562 | $8,094,898,136 |
| NHC | New Hope Corporation | 5.215 | -6% | 4,004,118 | $4,870,382,920 |
| PDN | Paladin Energy Ltd | 0.805 | -5% | 9,567,635 | $2,532,890,206 |
| S32 | South32 Limited | 4.005 | -5% | 19,560,998 | $19,357,439,848 |
| SMR | Stanmore Resources | 2.45 | -5% | 1,237,333 | $2,325,564,781 |
| AWC | Alumina Limited | 1.505 | -5% | 9,854,804 | $4,584,656,639 |
| CXO | Core Lithium | 1.4175 | -5% | 27,896,465 | $2,725,556,486 |
| VUK | Virgin Money Uk PLC | 2.525 | -4% | 2,705,487 | $2,029,224,418 |
| NIC | Nickel Industries | 0.9475 | -4% | 11,839,831 | $2,703,960,762 |
| WLE | WAM Leaders Limited | 1.495 | -4% | 696,517 | $1,709,944,526 |
| CEN | Contact Energy Ltd | 6.7 | -3% | 7,417 | $1,737,228,968 |
| INR | Ioneer Ltd | 0.56 | -3% | 3,195,025 | $1,217,036,195 |
| CHN | Chalice Mining Ltd | 4.645 | -3% | 1,331,805 | $1,806,226,531 |
| SQ2 | Block | 104.12 | -3% | 96,538 | $3,920,061,877 |
| SYA | Sayona Mining Ltd | 0.2275 | -3% | 53,429,589 | $1,953,816,471 |
Perpetual (ASX:PPT) fell 13% after a NSW court ruled that Perpetual is liable beyond the break fee of $23m if it waks away from buying Pendal Group.
Pendal had earlier agreed to be acquired by Perpetual, and said that it intended to proceed with the transaction despite requests from Perpetual for a delay (pending Perpetual’s own takeover offer).
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