• ASX200 up almost 1pc, wiping out some of the losses this year
  • Energy sector was the only down after a selloff in crude overnight
  • Alumina  jumps after an announcement related to Kwinana refinery


The Aussie stock market surged strongly on Tuesday, rising by almost 1% and partially wiping out losses incurred over the past few days.

The local market was bolstered by the strong session on Wall Street overnight where tech stocks led a broad brushed rally.

The only ASX sector in the red today was Energy, with traders dumping oil stocks after a 4% tumble in crude prices overnight.

Tech, Healthcare and Industrials stocks paced the ASX, ahead of the crucial CPI data from the ABS tomorrow.

Best mover today was Alumina (ASX:AWC) – the Australian vehicle that carries NYSE-listed Alcoa – up 7% after confirming plans to curtail its Kwinana refinery in Australia (more below).

Elsewhere across the region, Asian stocks were mainly higher on the back of the positive tone from Wall Street.

Concerns over China’s growth prospects and uncertainties are however keeping investors cautious, ahead of key inflation readings later this week,

Looking over to the US tonight, November international trade statistics are due for release, together with a business optimism index and January economic optimism index.



Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

Alumina (ASX:AWC) jumped 7% after confirming its plans to fully curtail production at its Kwinana Alumina Refinery in WA, commencing in the second quarter of 2024.

Alumina, which is the Aussie vehicle for NYSE-listed Alcoa, said it will stop producing alumina at its loss-making Kwinana refinery by September.

Alumina said the decision was in response to losses incurred at the refinery, together with its age, scale, operating costs and current bauxite grades.

When excluding the high-cost Kwinana refinery, AWC’s average cash costs of production for the remaining two refineries in WA, Pinjarra and Wagerup, were ~$250/t in 4Q23.

Kiwi-based retirement village developer, Summerset Group (ASX:SNZ), was up 3% today after reporting 360 sales for the quarter ending 31 December 2023, comprising 186 new sales and 174 resales.

The Q4 2023 result was a record for both new sales and resales, and a significant contributor to Summerset also achieving a record full year result of 1,103 total settlements for the 12 months to 31 December 2023.



Swipe or scroll to reveal the full table. Click headings to sort.

Wordpress Table Plugin

Premier Investments (ASX:PMV) was down today as it goes ex-dividend.