Following Wall Street’s record levels on Friday, the ASX 200 rebounded to rise by 0.6% today.
All sectors were in the green, except for Financials which fell by around 0.6%.
The sector was dragged down by Westpac (ASX:WBC), which slumped by more than 6% following the bank’s disappointing full year results that missed expectations.
Despite earnings more than doubling to $5.35bn and announcing a $3.5bn off-market buyback, investors were left largely unconvinced as the bank revealed growing cost pressures caused by hiring more Compliance staff.
Property stocks including real estate platform REA Group (ASX:REA) outperformed, after the latest Corelogic data showing that Australian property prices increased by another 1.50% in October.
Meanwhile, Judo Bank (ASX:JDO) rose 2% on debut, after completing a $657m IPO in one of the biggest floats this year.
The bank, which provides financial services to small and medium-sized enterprises, began trading with an initial market cap of $2.3bn.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| XRO | Xero Ltd | 155.75 | 4 | 327770 | $ 22,216,645,521.35 |
| WTC | Wisetech Global Ltd | 53.87 | 5 | 563055 | $ 16,598,451,210.16 |
| REH | Reece Limited | 20.65 | 4 | 659137 | $ 12,848,625,360.09 |
| CHC | Charter Hall Group | 18 | 4 | 1325946 | $ 8,071,917,680.23 |
| ORE | Orocobre Limited | 9.42 | 6 | 2751004 | $ 5,673,977,715.40 |
| MP1 | Megaport Limited | 18.67 | 4 | 695586 | $ 2,812,486,981.59 |
| IMU | Imugene Limited | 0.515 | 4 | 42491998 | $ 2,789,725,849.02 |
| JDO | Judo Cap Holdings | 2.26 | 8 | 19535714 | $ 2,321,563,383.30 |
| CIA | Champion Iron Ltd | 4.57 | 4 | 2651968 | $ 2,228,564,254.40 |
| LFS | Latitude Group | 2.17 | 4 | 51858 | $ 2,159,999,999.04 |
| BKL | Blackmores Limited | 99.35 | 6 | 43665 | $ 1,825,414,445.82 |
| JHG | Janus Henderson | 60.89 | 4 | 362357 | $ 1,724,889,893.60 |
| TLX | Telix Pharmaceutical | 6.64 | 10 | 706908 | $ 1,718,989,635.24 |
| NUF | Nufarm Limited | 4.54 | 4 | 1017080 | $ 1,652,595,954.60 |
| PSI | Psc Insurance Ltd | 4.79 | 5 | 91934 | $ 1,478,404,420.50 |
| INR | Ioneer Ltd | 0.73 | 7 | 16366353 | $ 1,404,290,855.46 |
| PNV | Polynovo Limited | 1.905 | 5 | 2137886 | $ 1,203,726,240.08 |
| AVZ | AVZ Minerals Ltd | 0.39 | 10 | 17446351 | $ 1,142,451,301.40 |
| ABB | Aussie Broadband | 5.09 | 5 | 610067 | $ 1,090,061,601.37 |
Oncology company Imugene (ASX:IMU) surged following its announced collaboration with another immuno-oncology company, Eureka Therapeutics.
The collaboration will evaluate Eureka’s anti-CD19 ARTEMIS T-cell therapy in combination with Imugene’s oncolytic virus for the treatment of solid tumours.
AusNet Services (ASX:AST) rose after receiving a takeover proposal from Brookfield which valued AST at $2.65 cash per share for an enterprise value of of $17.8 billion.
Brookfield is leading a consortium which includes co-investors in the superannuation and funds management industry.
Telix Pharma (ASX:TLX) and AVZ Minerals (ASX:AVZ) both rose by 10% on no specific news.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| WBC | Westpac Banking Corp | 23.78 | -7 | 36262379 | $ 94,172,751,711.36 |
| RMD | ResMed Inc. | 35.34 | -5 | 2335420 | $ 14,921,999,460.90 |
| GQG | GQG Partners | 1.95 | -2.5 | 1622704 | $ 5,905,610,868.00 |
| ZIM | Zimplats Holding Ltd | 22.37 | -3 | 3831 | $ 2,475,665,927.00 |
| PDN | Paladin Energy Ltd | 0.855 | -3 | 11482282 | $ 2,356,851,175.36 |
| VUL | Vulcan Energy | 12.01 | -4 | 2698060 | $ 1,549,171,008.63 |
| RRL | Regis Resources | 1.945 | -3 | 5803382 | $ 1,509,553,416.00 |
| SLR | Silver Lake Resource | 1.65 | -2.6549 | 3875998 | $ 1,500,746,716.64 |
| IMD | Imdex Limited | 2.77 | -3 | 929173 | $ 1,137,818,388.00 |
| BET | Betmakers Tech Group | 1.175 | -4 | 3758747 | $ 1,046,269,478.26 |
| SBM | St Barbara Limited | 1.405 | -4 | 4457994 | $ 1,039,457,126.79 |
| WSA | Western Areas Ltd | 3.05 | -3 | 1404296 | $ 1,016,392,369.80 |
Along with Westpac, Resmed (ASX:RMD) fell today after reporting that its gross margins for the quarter contracted by 2.7% to 56%, despite revenues growing by 20% to US$904 million.