Gold and lithium stocks climbed, while Megaport surged 30pc. Picture Getty
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Local shares rebounded from five sessions of losses with +1.2% gain today.
All 11 ASX sectors finished in the green as banks, real estate, and mining stocks outpaced the market.
Gold stocks Northern Star (ASX:NST) and Evolution Mining (ASX:EVN) were some of the best performers. Bellevue Gold (ASX:BGL) was the pick of the bunch amongst gold stocks, up by 16%.
Metals strategist at MKS PAMP, Nicky Shiels, said she’s maintaining her 2023 year-end price average of US$1,930 for gold, but noted that it could trade in a volatile range of between US$1,850 and US $2,100 in the second half.
Lithium miners also advanced today after China signalled today that more economic support measures are imminent.
Data released yesterday showed that China was on the brink of consumer deflation, but its central bank People’s Bank of China responded swiftly by announcing new stimulus for the country’s struggling real estate sector.
Best large cap today was data centre stock, Megaport (ASX:MP1), which jumped over 30% on profit guidance (more details below).
Meanwhile, the ANZ-Roy Morgan report released this morning showed that Aussie consumer confidence took a hit last week despite the RBA keeping interest rates on hold.
For the week to July 9th, consumer confidence fell 0.8 points to 73.7 points, down by 8.3pts the same week a year ago.
Only 19% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, compared to 53% (down 3%) that say their families are ‘worse off’ financially.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MP1 | Megaport Limited | 8.88 | 32.14 | 4,381,761 | $1,066,346,669 |
| BGL | Bellevue Gold Ltd | 1.67 | 15.57 | 13,124,017 | $1,633,109,419 |
| CMM | Capricorn Metals | 4.39 | 8.00 | 1,215,303 | $1,526,390,191 |
| DEG | De Grey Mining | 1.46 | 5.80 | 4,548,921 | $2,154,410,343 |
| SFR | Sandfire Resources | 5.99 | 5.09 | 632,748 | $2,604,283,990 |
| CXO | Core Lithium | 0.97 | 4.89 | 9,236,297 | $1,709,835,450 |
| PRU | Perseus Mining Ltd | 1.70 | 4.46 | 2,421,987 | $2,222,978,631 |
| GOR | Gold Road Res Ltd | 1.59 | 4.26 | 1,938,673 | $1,644,592,621 |
| PDN | Paladin Energy Ltd | 0.75 | 4.17 | 6,519,116 | $2,146,412,842 |
| SYA | Sayona Mining Ltd | 0.19 | 4.17 | 14,268,270 | $1,807,044,844 |
| RMS | Ramelius Resources | 1.29 | 4.03 | 2,790,160 | $1,229,209,741 |
| EVN | Evolution Mining Ltd | 3.40 | 3.98 | 4,882,033 | $6,000,503,363 |
| TLX | Telix Pharmaceutical | 11.04 | 3.95 | 834,081 | $3,383,077,443 |
| HUB | HUB24 Ltd | 24.84 | 3.89 | 371,887 | $1,948,720,902 |
| SQ2 | Block | 102.77 | 3.86 | 123,060 | $3,033,978,975 |
Megaport (ASX:MP1) jumped 32% on a guidance upgrade.
The company said that as a result of continued improvement in its operating metrics and financial performance, it is upgrading FY23 Normalised EBITDA to be in the range of $19m to $21m (compared to previous guidance of $16m to $18m).
MP1 also expects its FY24 EBITDA guidance to be higher than the previous guidance of $41m to $46m.
Freshly minted lithium producer Sayona Mining (ASX:SYA) said drill results showed significant expansion to the lithium footprint at its 60% owned Moblan project in Quebec. Results include a 41.0m @ 1.66% Li2O from 80.8m, and 42.7m @ 1.42% Li2O from 119.9m.
Core Lithium’s (ASX:CXO) second spodumene concentrate parcel has been delivered to Darwin Port, with ship loading to commence today. The shipment of approximately 13,100 tonnes will complete the sales agreements with Sichuan Yahua for 18,500 tonnes of spodumene concentrate.
Capricorn Metals (ASX:CMM) reported that the Karlawinda Gold Project achieved record annual gold production of 120,014 ounces for FY23.
This result is at the mid-point of the FY23 production guidance range of 115,000 – 125,000 ounces. In line with guidance, the KGP completed another strong quarter of operations in the June quarter producing 28,859 ounces of gold.
The Lottery Corporation (ASX:TLC) rose after broker UBS kept its Buy recommendation and increased its target price slightly to $6 (vs current price of $5.12).
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| LFG | Liberty Fin Group | 3.73 | -4.36 | 16,205 | $1,184,835,105 |
| MCY | Mercury NZ Limited | 5.95 | -2.46 | 1,197 | $8,459,436,568 |
| JLG | Johns Lyng Group | 5.24 | -2.24 | 328,096 | $1,405,916,187 |
| IFT | Infratil Limited | 9.30 | -2.11 | 46,263 | $7,902,954,877 |
| SMR | Stanmore Resources | 2.43 | -1.62 | 4,397,914 | $2,226,437,336 |
| CTT | Cettire | 3.44 | -1.43 | 1,090,655 | $1,330,521,388 |
| AMC | Amcor PLC | 14.61 | -1.28 | 1,062,966 | $9,550,329,844 |
| CMW | Cromwell Prop | 0.54 | -0.93 | 154,094 | $1,414,188,017 |
| NSR | National Storage | 2.23 | -0.89 | 933,162 | $3,033,860,832 |
| NHC | New Hope Corporation | 4.73 | -0.84 | 2,468,049 | $4,209,020,835 |
| 360 | Life360 Inc. | 7.21 | -0.83 | 250,535 | $1,446,387,336 |
| BFL | Bsp Financial Group | 4.83 | -0.82 | 940 | $2,275,361,298 |
| DTL | Data#3 Limited | 7.29 | -0.82 | 193,607 | $1,136,304,002 |
| ASX | ASX Limited | 60.13 | -0.78 | 302,664 | $11,731,866,817 |
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