- Aussie shares lifted on Friday, up around half a percent for the week
- Financial tech, and lithium stocks led
- The G-7 meeting is underway now in Hiroshima
The ASX 200 lifted by 0.6% on Friday, taking its gains to around half a percent for the week.
Financials and Tech stocks led the way, while Utilities stocks lagged.
Xero (ASX:XRO) led the Tech agains, extending its rally by 5% today after announcing revenue growth of 28% for the full year yesterday.
Lithium stocks continued their ascent as price predictions turn bullish. Citi has forecast lithium prices to rise by 25-40% by year end.
Qantas (ASX:QAN) says it will return more aircraft to service and rapidly lift international capacity faster. The QAN share price was up 0.5%.
Meanwhile, Flight Centre (ASX:FLT) founders have reduced their shares in the business from 20.2% to 6.2%. The company disclosed today that the reduction is due to co-founders Geoff Harris and Bill James losing rights to an interest in FLT managing director Graham Turner’s shares as the third founder. The FLT share price was up +0.15%.
Nikkei highest since 1990
The Japanese Nikkei 225 index rose 1% today and hit a 33-year high. Analysts believe the Japanese market has been cheap for a very long time, as Yen touched its lowest level this year.
Elsewhere, Elon Musk’s lawyer has reportedly sent a letter to Microsoft, claiming that Microsoft had accessed Twitter’s data for unauthorised purposes.
According to a note sent to Bloomberg, the letter said Microsoft may have been in violation of multiple provisions of its data agreement with Twitter “for an extended period of time”.
Ukraine President Volodymyr Zelenskiy will travel to Hiroshima to join the Group of 7 leaders in person, according to a report, after a brief visit to Saudi Arabia. The G-7 nations are expected to ramp up pressure on Russia with new sanctions.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ASB | Austal Limited | 2.00 | 25.39 | 6,548,358 | $578,094,791 |
| AUB | AUB Group Ltd | 27.68 | 7.04 | 403,452 | $2,625,579,195 |
| CXO | Core Lithium | 1.18 | 6.56 | 19,772,276 | $2,053,661,057 |
| SNZ | Summerset Grp Hldgs | 8.52 | 6.50 | 806 | $1,863,783,000 |
| IAG | Insurance Australia | 5.18 | 4.33 | 8,487,650 | $12,151,548,893 |
| XRO | Xero Ltd | 106.46 | 3.87 | 504,943 | $15,482,848,118 |
| SQ2 | Block | 89.46 | 3.55 | 109,149 | $2,586,893,520 |
| AKE | Allkem Limited | 15.84 | 3.53 | 3,961,599 | $9,756,168,716 |
| VUK | Virgin Money Uk PLC | 2.90 | 3.20 | 1,890,348 | $1,970,493,333 |
| DHG | Domain Holdings Aus | 3.45 | 3.14 | 780,753 | $2,109,734,891 |
| LFG | Liberty Fin Group | 3.78 | 3.00 | 19,684 | $1,114,960,214 |
Shipbuilder Austal (ASX:ASB) soared 24% after being awarded a US$113.9m fixed-price contract to deliver the Auxiliary General Ocean Surveillance Ship T-AGOS 25 Class for the United States Navy. The contract includes options for detail design and construction of up to seven T-AGOS 25 class ships which, if exercised, would bring the cumulative value of the contract to US$3.19 billion.
Insurance company AUB Group (ASX:AUB) rose 7% after announcing the successful completion of its institutional placement of new fully paid ordinary shares to raise $150 million as announced on 18 May. The placement bookbuild was significantly oversubscribed, said AUB.
Core Lithium (ASX:CXO) lifted 6% after its Board approved expenditure for early-works for the BP33 underground project at the Finnis mine. In parallel, the BP33 project has received all mine authorisation approvals from the Northern Territory Government. Final investment decision for BP33 is expected by end Q1 CY24.
AMP (ASX:AMP) rose 1% as it acknowledges today’s decision by the Federal Court to issue a penalty to AMP for $24 million for charging fees to deceased customers, in a case brought to court by ASIC.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| WHC | Whitehaven Coal | 6.86 | -4.39 | 5,568,594 | $6,262,048,266 |
| NUF | Nufarm Limited | 5.85 | -3.31 | 536,995 | $2,301,867,882 |
| NHC | New Hope Corporation | 5.10 | -3.23 | 4,046,019 | $4,649,560,144 |
| WBT | Weebit Nano Ltd | 5.56 | -2.80 | 942,674 | $1,065,805,386 |
| NEU | Neuren Pharmaceut. | 14.09 | -2.80 | 289,545 | $1,833,936,645 |
| CDA | Codan Limited | 7.31 | -2.79 | 188,375 | $1,362,384,067 |
| WLE | WAM Leaders Limited | 1.47 | -2.33 | 498,978 | $1,882,236,195 |
| CRN | Coronado Global Res | 1.46 | -1.85 | 1,067,533 | $2,489,533,789 |
| DEG | De Grey Mining | 1.36 | -1.81 | 1,033,423 | $2,162,216,177 |
| CMM | Capricorn Metals | 4.12 | -1.79 | 328,945 | $1,575,264,753 |
| NCM | Newcrest Mining | 27.04 | -1.71 | 2,536,511 | $24,600,287,437 |
| RRL | Regis Resources | 2.05 | -1.68 | 2,783,846 | $1,570,453,924 |
| YAL | Yancoal Aust Ltd | 5.33 | -1.66 | 1,034,830 | $7,156,781,749 |
| AGL | AGL Energy Limited. | 8.86 | -1.56 | 889,743 | $6,054,725,097 |
| DBI | Dalrymple Bay | 2.54 | -1.55 | 671,148 | $1,279,065,101 |
Allianca Aviation Services (ASX:AQZ) dropped almost 3% after announcing that it has received option calls from Qantas to increase the number of aircraft in service on wet lease operations from 18 to 22, with a further eight options yet to be called.