• The ASX rebounds by more than 1%
  • Gold and lithium stocks climb, while Megaport surged 30pc
  • Aussie consumer confidence however took a hit according to ANZ-Roy Morgan

 

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.

BIG CAP WINNERS

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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
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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).

 

BIG CAP LOSERS

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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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