• ASX closed higher after rallies in Harvey Norman, Star Casino stocks
  • Bitcoin jumped to US$62k
  • US inflation data due later tonight, will signal if bull market is over


The ASX 200 swung to a higher close on Thursday, up +0.5%, after opening the session in the red.

Consumer Discretionary and Staples led other sectors after earnings reports from Harvey Norman and Star Casino – see details below.

Energy related stocks also climbed despite crude prices slipping by half a percent overnight.

Bitcoin meanwhile is edging closer to its all-time high of around US$69k after it jumped to US$62k, at the time of writing. Earlier, it moved above US$63k on some crypto exchanges.

“If the current momentum continues, we expect that Bitcoin could beat the previous all-time high in a matter of weeks,” says Nigel Green of de Vere Group.

Across the region, Asian stock markets were mixed ahead of the all-crucial CPI data later today (Friday AM AEDT).

The market is bracing for the possibility of a higher than expected PCE (Personal Consumption Expenditures) Index, the Fed Reserve’s preferred inflation gauge. Some analysts say a bad reading would signal an end to the bull market we’ve had since the start of the year.

Treasury yields have declined in the past few days, signally that the market is betting on a soft reading.

“The recent data is ‘noise’ and should be ignored outside of its impact for very short-term market movements,” Chris Zaccarelli of Independent Advisor Alliance told Bloomberg.

“We are more interested in the PCE data.”



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Code Name Price % Change Volume Market Cap
MAQ Macquarie Technology 78.170 9.789 57,460 $1,733,311,882
SGR The Star Ent Grp 0.518 7.813 25,805,344 $1,376,966,821
RHC Ramsay Health Care 54.900 7.248 1,240,510 $11,744,761,730
PNV Polynovo Limited 2.240 5.164 2,151,118 $1,470,195,760
OCL Objective Corp 13.680 4.989 34,369 $1,240,609,962
CNI Centuria Capital 1.630 4.823 770,303 $1,256,289,551
AD8 Audinate Group Ltd 22.800 4.683 173,223 $1,810,110,448
BGL Bellevue Gold Ltd 1.520 4.467 3,152,836 $1,713,032,393
SDR Siteminder 5.350 4.289 5,054,846 $1,421,349,124
S32 South32 Limited 2.940 4.255 25,801,134 $12,772,509,162
HVN Harvey Norman 4.940 4.219 7,813,109 $5,906,071,540
WOR Worley Limited 16.755 4.068 979,710 $8,480,729,788
DDR Dicker Data Limited 12.570 3.799 565,698 $2,183,305,627
SLX Silex Systems 4.950 3.774 759,756 $1,125,462,778
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Harvey Norman (ASX:HVN) says H1 EBITDA declined by 31.8% to $473 million, while Profit before tax (PBT) was 29.5% lower to $303.8 million. Interim dividend per share was declared at $0.10, down 23% from the pcp.

Star Entertainment Group (ASX:SGR) says its H1 FY24 revenue and earnings are broadly consistent with commentary provided at the AGM. Normalised EBITDA was $114 million, and NPAT for the half was $9 million, up 100% from the pcp. Priorities for the rest of the year include executing against the Remediation Plan, and demonstrating to regulators that The Star is capable of returning to suitability.

Xero (ASX:XRO) has today announced its FY25-27 strategy, which includes aspirations for future growth. The company stated 4 goals for FY25-FY27: Win the 3 x 3 – core accounting, payments and payroll market, a winning go-to market playbook, focused bets to win the future, and unleash Xero to win. ““Our strategy is simple, focused, and purpose driven,” said CEO Sukhinder Singh Cassidy.

Ramsay Health Care (ASX:RHC)’s NPAT for H1 declined by 23% vs pcp to $140.4m. In terms of outlook, Ramsay continues to expect further growth in earnings. For the full year of FY24, Ramsay expecs mid single digit top line growth.



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Code Name Price % Change Volume Market Cap
ZIM Zimplats Holding Ltd 16.06 -6.14 54,342 $1,841,680,174
BFL Bsp Financial Group 6.48 -5.95 13,104 $3,219,145,655
NEC Nine Entertainment 1.72 -4.44 5,149,874 $2,919,969,092
RMD ResMed Inc. 26.72 -4.33 2,758,643 $17,277,464,763
ERA Energy Resources 0.05 -4.17 1,013,312 $1,063,118,361
JLG Johns Lyng Group 6.33 -3.88 1,272,648 $1,828,409,532
GMD Genesis Minerals 1.53 -2.86 4,097,363 $1,767,045,004
LNW Light & Wonder Inc. 150.87 -2.63 111,872 $2,407,544,022
HLI Helia Group Limited 4.11 -2.38 2,219,632 $1,266,387,724
LFG Liberty Fin Group 3.91 -2.25 125,857 $1,215,215,492
MCY Mercury NZ Limited 6.28 -2.18 12,427 $8,931,678,874
PPT Perpetual Limited 23.85 -2.09 379,067 $2,763,265,541
VUK Virgin Money Uk PLC 3.04 -1.94 713,829 $2,028,501,641
MPL Medibank Private Ltd 3.59 -1.91 3,856,650 $10,079,651,858
LYC Lynas Rare Earths 5.87 -1.76 2,265,969 $5,580,125,186
FPH Fisher & Paykel H. 23.05 -1.66 184,834 $13,688,108,706
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