The winning streak for local stocks ran out of steam today, as all the major ASX200 indexes dipped into the red.

After two straight days of >1% gains, the ASX200 Materials index (mining) dipped by around 0.70% in Wednesday trade.

The ASX200 Energy index has been no a rollercoaster so far this week, and today fell by more than 1% — offsetting gains of a similar amount on Tuesday.

In a relatively flat session across Asian markets, the ASX200 financials index finished around 0.80% lower with all of the major banks in the red.

25 BIG CAP WINNERS

(Stocks highlighted in yellow made market-moving announcements).

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Capricorn Metals (ASX:CMM) led the way for larger cap stocks (defined here as stocks with a market cap north of $500m), with a healthy 22.6% gain.

Investors applauded the company’s decision to acquire the Mt Gibson gold project in WA’s Murchison region.

Capricorn has completed a JORC 2012 compliant Inferred Mineral Resource Estimate of 2,083,000 ounces of gold at Gibson, and said it snapped up the project at a cost of less than $20 per resource ounce “plus a 1% NSR royalty (for gold production in excess of 90,000 ounces)”.

Electricity group Spark Infrastructure (ASX:SKI) gained 5%, after advising that the Ontario Teachers’ Pension Plan Board and private equity group Kohlberg Kravis Roberts & Co had sweetened their offer for a takeover.

And salary packaging group McMillan Shakespeare (ASX:MMS) also finished on the winner’s list after investors responded positively to its FY21 trading update.

25 BIG CAP LOSERS

(Stocks highlighted in yellow made market-moving announcements).

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Nickel Mines’ (ASX:NIC) trading update showed it booked quarterly production of 10,143 tonnes of nickel metal with a 15.4% uplift in free cash flow to $57.7m, but investors wanted more as the stock closed more than 10% lower.

Reporting season also proved fruitless for Mount Gibson Iron (ASX:MGX), which fell ~7% following its quarterly production update.

MGX “advanced its development and production plans during the June quarter and despite increasing COVID-related labour and cost pressures, finished the financial year in a robust position”, CEO Peter Kerr said.