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ASX Large Caps: Some Christmas cheer as ASX snaps losing streak and gold miners shine
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- The ASX has broken a losing streak with the S&P/ASX 200 closing up 1.20%
- Gold miners Silver Lake Resources, Evolution Mining lead the gainers
- The ACCC announces it will block the TPG Telecom and Telstra infrastructure deal
Markets are finally feeling some Christmas joy. The benchmark S&P/ASX200 closed up 1.20% reaching up to 1.7% higher in early trade but running out of puff in afternoon trade.
As Stockhead’s Gregor Stronach said in his lunch wrap it’s a refreshing change from the past two days, which have been pretty dismal.
Aussie markets followed the lead of US markets overnight where the Dow Jones gained 0.28%, the NASDAQ 0.01%, and the S&P 500 0.10%.
All ASX sectors finished in the green today with the utilities leading the gains up 3.85%, real estate up 3% and materials rising 2.42%.
However, it hasn’t been all good news around the Asia-Pacific region with the Nikkei 225 slipping 0.73%, leading losses in the Asia-Pacific region, and the Topix down 0.64% in its afternoon session.
In South Korea, the Kospi fell 0.15%. The Heng Seng, however, joined the Aussie bourse, up 0.093% while the CSI 300 was up 0.12%.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SLR | Silver Lake Resource | 1.3175 | 8% | 11,390,226 | $1,134,288,086 |
| EVN | Evolution Mining Ltd | 3.055 | 8% | 13,219,867 | $5,211,446,346 |
| BGL | Bellevue Gold Ltd | 1.15 | 7% | 6,199,607 | $1,181,997,127 |
| CMM | Capricorn Metals | 4.755 | 7% | 1,434,892 | $1,671,086,961 |
| DEG | De Grey Mining | 1.265 | 6% | 2,875,556 | $1,857,788,629 |
| ORG | Origin Energy | 7.525 | 6% | 7,010,743 | $12,197,053,511 |
| WAF | West African Res Ltd | 1.185 | 6% | 2,578,016 | $1,138,841,537 |
| GOR | Gold Road Res Ltd | 1.7425 | 6% | 4,397,522 | $1,764,528,969 |
| NCM | Newcrest Mining | 21.265 | 6% | 3,670,945 | $17,909,924,793 |
| RRL | Regis Resources | 2.12 | 5% | 3,315,400 | $1,517,602,109 |
| SYR | Syrah Resources | 2.275 | 5% | 1,116,913 | $1,448,432,734 |
| NSR | National Storage | 2.38 | 5% | 2,973,272 | $2,712,054,023 |
| INA | Ingenia Group | 4.435 | 5% | 463,485 | $1,720,001,374 |
| ARF | Arena REIT. | 3.86 | 5% | 443,449 | $1,283,272,768 |
| CNI | Centuria Capital | 1.7225 | 5% | 917,037 | $1,310,074,679 |
| LLC | Lendlease Group | 7.435 | 5% | 2,067,367 | $4,900,200,404 |
| NIC | Nickel Industries | 0.9825 | 5% | 4,199,419 | $2,567,397,087 |
| 29M | 29 Metals Limited | 2.35 | 4% | 339,452 | $1,083,051,223 |
Gold miners were among todays winners, including Silver Lake Resources (ASX:SLR) and Evolution Mining (ASX:EVN).
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| 360 | Life360 Inc. | 5.05 | -4% | 3,424,960 | $1,022,906,115 |
| TPG | TPG Telecom Limited | 4.655 | -2% | 3,662,894 | $8,869,059,761 |
| HGH | Heartland Group | 1.7225 | -2% | 182 | $1,241,365,643 |
| DBI | Dalrymple Bay | 2.4 | -2% | 187,556 | $1,214,616,084 |
| LTR | Liontown Resources | 1.3225 | -2% | 17,564,248 | $2,965,187,723 |
| DHG | Domain Holdings Aus | 2.54 | -2% | 5,168,651 | $1,635,992,026 |
| PWH | Pwr Holdings Limited | 10.84 | -1% | 135,608 | $1,104,183,740 |
| LOV | Lovisa Holdings Ltd | 22.44 | -1% | 149,782 | $2,452,096,565 |
| PXA | Pexagroup | 12.68 | -1% | 318,536 | $2,276,863,118 |
| APM | APM Human Services | 2.47 | -1% | 726,038 | $2,292,954,865 |
| PDL | Pendal Group Ltd | 4.85 | -1% | 457,512 | $1,877,432,501 |
| BRG | Breville Group Ltd | 18.04 | -1% | 134,922 | $2,601,476,470 |
| PLS | Pilbara Min Ltd | 3.825 | -1% | 26,757,822 | $11,571,742,155 |
TPG Telecom (ASX:TPG) saw its share price fall today after the the competition regulator announced it would block its landmark Multi-Operator Core Network (MOCN) agreement with Telstra (ASX:TLS).
The Australian Competition and Consumer Commission argued the infrastructure deal would lessen competition and leave Australian mobile users worse off, despite “some benefits”.
TPG and TLS have both said they will appeal the decision.
TPG Telecom Chief Executive Iñaki Berroeta said the ACCC’s decision to deny the TPG TelecomTelstra network sharing arrangement is a missed opportunity to deliver greater competition and choice for the people of regional Australia.
