ASX closed higher after rallies in Harvey Norman, Star Casino stocks. Picture Getty
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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.”
Swipe or scroll to reveal the full table. Click headings to sort.
| 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 |
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.
Swipe or scroll to reveal the full table. Click headings to sort.
| 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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