Energy stocks weighed after a 2pc drop in crude prices. Picture Getty
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The ASX 200 dropped by -0.25% on Friday, and for the week, the index closed higher by +0.2%.
Energy stocks weighed heavily on the markets today after a 2% drop in crude oil prices last night.
“Oil has had a nice run up, but some of that was the Russian-Ukraine conflict, which has yet to lead to a meaningful disruption of Russian oil shipments,” said Oanda analyst, Edward Moya.
However, Moya believes that oil prices won’t stay down for too long.
“Oil prices are likely to head higher, so any dips will likely be bought into,” he said.
The Consumer Discretionary was the best performer today after an 18% rise in casino operator, The Star Entertainment Group (ASX:SGR) – see more details below.
Meanwhile, the Aussie dollar is on track to close the week at two-month lows, trading at US65.20c now.
The Japanese Yen is also trading lower close to the psychological 145 level vs USD this afternoon, a week after the Bank of Japan made a surprise tweak to its yield curve control program.
Elsewhere, the US government said it will investigate Microsoft’s role in the cybersecurity breach of government officials’ email accounts. US authorities suspected Chinese hackers, although no evidence has been provided.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| SGR | The Star Ent Grp | 1.16 | 18.46 | 36,425,394 | $1,578,213,855 |
| MAD | Mader Group Limited | 7.27 | 9.32 | 520,587 | $1,330,000,000 |
| AMP | AMP Limited | 1.24 | 7.39 | 25,304,156 | $3,218,390,530 |
| GMD | Genesis Minerals | 1.48 | 6.12 | 7,801,322 | $1,439,896,191 |
| CTT | Cettire | 3.31 | 5.25 | 38,937,011 | $1,197,088,011 |
| BLD | Boral Limited | 4.96 | 4.54 | 3,095,937 | $5,228,639,106 |
| BGL | Bellevue Gold Ltd | 1.64 | 4.47 | 1,687,611 | $1,769,986,680 |
| CRN | Coronado Global Res | 1.62 | 4.02 | 2,830,157 | $2,606,885,550 |
| DDR | Dicker Data Limited | 8.55 | 3.39 | 203,199 | $1,489,957,926 |
| DOW | Downer EDI Limited | 4.24 | 3.29 | 1,104,640 | $2,753,452,084 |
| MAQ | Macquarie Technology | 69.25 | 3.27 | 20,586 | $1,632,526,612 |
| JLG | Johns Lyng Group | 5.68 | 2.99 | 502,496 | $1,522,498,609 |
| PNV | Polynovo Limited | 1.60 | 2.90 | 894,116 | $1,069,860,764 |
| HVN | Harvey Norman | 3.86 | 2.80 | 5,122,391 | $4,672,524,953 |
| AX1 | Accent Group Ltd | 1.89 | 2.72 | 542,974 | $1,013,764,023 |
The Star Entertainment Group (ASX:SGR) rose over 20% after saying it has reached an in-principle agreement with the NSW Treasurer, Daniel Mookhey, to amend its poker machine obligations to the State. Following this agreement, Star expects additional duty payable in FY24 to only be around $10 million, which represents a slash of two-thirds from the original proposal.
Nick Scali (ASX:NCK) said full-year FY23 revenue was $507.7m, up 15% on pcp. NPAT was $101.1m, up 26.1% on pcp. Final dividend per share of 35c, flat on pcp.
Online fashion retailer Cettire (ASX:CTT) extended its 20% gain yesterday by another 5%, despite news that founder and CEO Dean Mintz had sold an 8.7% stake, or around $100 million.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| AZS | Azure Minerals | 2.30 | -10.85 | 5,264,615 | $1,006,809,066 |
| GNE | Genesis Energy Ltd | 2.35 | -4.47 | 195,226 | $2,620,569,029 |
| NHC | New Hope Corporation | 5.66 | -3.83 | 2,600,295 | $4,970,572,528 |
| BFL | Bsp Financial Group | 5.70 | -3.39 | 505 | $2,756,597,876 |
| BSL | BlueScope Steel Ltd | 20.34 | -3.37 | 918,076 | $9,589,665,184 |
| MCY | Mercury NZ Limited | 5.98 | -3.24 | 4,582 | $8,570,379,998 |
| WHC | Whitehaven Coal | 7.22 | -3.15 | 5,610,067 | $6,232,675,841 |
| BPT | Beach Energy Limited | 1.67 | -3.05 | 5,619,433 | $3,923,893,888 |
| WBT | Weebit Nano Ltd | 5.22 | -2.97 | 638,129 | $1,008,537,162 |
| A2M | The A2 Milk Company | 4.95 | -2.85 | 3,201,904 | $3,674,858,929 |
| STX | Strike Energy Ltd | 0.43 | -2.84 | 2,350,341 | $1,113,882,756 |
| OCL | Objective Corp | 13.42 | -2.40 | 7,692 | $1,308,690,666 |
| SQ2 | Block | 95.24 | -2.39 | 110,458 | $3,011,082,597 |
| AFI | Australian Foundat. | 7.04 | -2.36 | 591,576 | $8,942,913,514 |
| WDS | Woodside Energy | 38.11 | -2.28 | 2,228,590 | $74,051,241,069 |
| MIN | Mineral Resources. | 67.83 | -2.27 | 719,728 | $13,496,956,694 |
| BKI | BKI Investment Ltd | 1.78 | -2.20 | 265,552 | $1,441,045,641 |
Bluescope Steel (ASX:BSL) says it will invest $415 million in Western Sydney to add 240ktpa metal coating capacity at its Erskine Park, NSW site. The project is expected to be fully commissioned and operational by the end of calendar year 2025, with a total capital cost of $415 million.
Azure Minerals (ASX:AZS) was the worst large cap today, down 10% on no specific news.
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