• The ASX hits a 6-month high today
  • Mining rose while energy stocks lag on falling oil prices
  • Evolution Mining rises on assay results

 

Local shares hit a six-month of high on Thursday after rising by 0.3%, the third consecutive day of gains.

Shares in Mining, Tech and Real Estate gained, while the Energy sector was the worst performer as oil prices tumbled overnight.

Oil prices sank to a two-month low as the Russian oil price cap set for Dec 5th was proposed at a much higher range than expected at between $US65 and $US70 a barrel.

If this EU proposal is adopted, experts believe the cap would have minimal impact on the amount of Russian supply to Europe.

China has today locked down the city of Zhengzhou, the home of the world’s biggest Iphone factory.

The new restrictions were announced after hundreds of workers at the plant rioted against local police last night. The factory owners Foxconn has apparently begun offering staff US$1,400 to leave the compound.

Still in China, property stocks rallied today after the country’s state owned banks extended around US$38b in new loans to troubled property developers in a government push to steady the ship.

Meanwhile, the Australian retail sector is gearing up for the Black Friday sales which will begin tomorrow and end on Cyber Monday.

Last year, Aussies spent $6 billion in the four-day event, and experts that predict the figure will increase to $6.2b this year.

Retailer Harvey Norman (ASX:HVN) was down 1% today despite reporting a 6.9% year-on-year July – October aggregated sales revenue growth. The company says it plans to open 52 stores in Malaysia over the next six years.

To cryptos where Bitcoin is trading steady in the last few hours at US$16,687.

The fallout of FTX continues to haunt other crypto players. Australian Nasdaq-listed Bitcoin miner Iris Energy is said to be facing a class action over its collapse.

 

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
BRN Brainchip Ltd 0.7525 8% 13,930,405 $1,200,169,190
CHN Chalice Mining Ltd 5.26 6% 2,979,040 $1,862,671,110
EVN Evolution Mining Ltd 2.72 6% 15,080,893 $4,715,729,327
SLR Silver Lake Resource 1.25 5% 2,381,638 $1,111,044,478
MEZ Meridian Energy 4.41 5% 34,631 $5,334,098,408
SFR Sandfire Resources 5.135 4% 2,798,992 $2,026,297,144
HGH Heartland Group 1.715 4% 1,021 $1,163,780,290
LNK Link Admin Hldg 3.585 4% 1,508,201 $1,769,806,809
RWC Reliance Worldwide 3.175 4% 5,415,067 $2,417,689,981
SYA Sayona Mining Ltd 0.2225 3% 21,403,507 $1,832,062,307
PXA Pexagroup 14.38 3% 285,807 $2,464,828,453
REA REA Group 122.02 3% 91,295 $15,622,860,910
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Brainchip (ASX:BRN) rose 8% on no specific news.

Evolution Mining (ASX:EVN) rose 6% on the back of a promising gold outlook.

 

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
NHC New Hope Corporation 5.385 -9% 8,436,166 $5,230,479,173
WHC Whitehaven Coal 8.94 -7% 14,198,149 $8,940,633,763
SMR Stanmore Resources 2.465 -6% 1,123,603 $2,352,606,232
YAL Yancoal Aust Ltd 5.215 -4% 2,804,033 $7,156,781,749
CRN Coronado Global Res 1.9275 -4% 2,847,062 $3,352,907,460
MCY Mercury NZ Limited 4.98 -3% 30,208 $7,137,941,004
PLS Pilbara Min Ltd 4.775 -3% 14,710,010 $14,733,584,997
KAR Karoon Energy Ltd 2.31 -3% 1,558,337 $1,339,186,387
CXO Core Lithium 1.41 -3% 18,694,867 $2,665,563,158
SYR Syrah Resources 2.385 -3% 1,206,238 $1,642,898,240
29M 29Metalslimited 2.445 -3% 886,007 $1,208,203,808
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Whitehaven Coal (ASX:WHC) shares fell almost 7% after its CEO sold 900,000 shares.

AGL Energy (ASX:AGL) fell 1% after saying that it plans to close down the Torrens Island ‘B’ power facility by 30 June 2026.

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