The ASX 200 opened the week 0.54% lower, with travel stocks weighing on the index.
Travel and travel-adjacent stocks fell following similar moves in New York and Europe on Friday.
This comes as European COVID cases are increasing again, with Austria having just imposed a 20-day national lockdown.
Qantas (ASX:QAN) was down by 4% , while Flight Centre (ASX:FLT) fell 7% in a broad-brushed selloff in travel.
Concerns of a new COVID wave in Europe also caused the oil market to come under pressure, with the benchmark Brent crude falling by 3% in London on Friday.
Iron ore miners meanwhile have picked up today, after the spot iron ore rebounded by 5%.
Experts have warned however that the downward trend in iron ore price could last until Q1 of 2022 amid China’s steel production control.
Lithium miners like Orocobre (ASX:ORE) and Pilbara Minerals (ASX:PLS) both rose by around 4%.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MCY | Mercury NZ Limited | 5.81 | 4 | 48384 | $ 7,588,016,196.81 |
| LYC | Lynas Rare Earths | 8.56 | 4 | 4214262 | $ 7,453,919,436.04 |
| PLS | Pilbara Min Ltd | 2.48 | 5 | 26664591 | $ 7,020,972,274.72 |
| ORE | Orocobre Limited | 9.54 | 5 | 4744271 | $ 5,807,858,088.46 |
| AMP | AMP Limited | 1.165 | 3 | 16970931 | $ 3,707,030,143.16 |
| AGL | AGL Energy Limited. | 5.24 | 2 | 4875663 | $ 3,377,485,060.02 |
| NIC | Nickel Mines Limited | 1.285 | 8 | 19018606 | $ 2,992,884,570.69 |
| CIA | Champion Iron Ltd | 4.23 | 3 | 1449880 | $ 2,081,681,610.36 |
| AVZ | AVZ Minerals Ltd | 0.665 | 11 | 33667732 | $ 1,930,903,608.00 |
| ASM | Ausstratmaterials | 13.33 | 5 | 448722 | $ 1,778,701,576.50 |
| LFG | Liberty Fin Group | 6.05 | 4 | 42229 | $ 1,773,024,000.00 |
| HTA | Hutchison | 0.11 | 5 | 525747 | $ 1,425,113,400.59 |
| INR | Ioneer Ltd | 0.705 | 4 | 11566078 | $ 1,394,372,911.32 |
| TPW | Temple & Webster Ltd | 11.38 | 2 | 203537 | $ 1,339,436,559.36 |
| COF | Centuria Office REIT | 2.24 | 3 | 951242 | $ 1,298,500,251.06 |
| VUL | Vulcan Energy | 10.9 | 7 | 2931131 | $ 1,260,636,360.34 |
| LKE | Lake Resources | 0.91 | 6 | 11575745 | $ 1,039,048,521.80 |
| IAP | Irongate Group | 1.665 | 7 | 1744897 | $ 1,000,233,117.95 |
Nickel Mines (ASX:NIC)
NIC has signed a multi-faceted MoU with Shanghai Decent Investment, setting out a framework for future collaborations over the next several years. The MoU outlines a plan by which Nickel Mines can participate in numerous future nickel development projects the Tsingshan group has planned across Indonesia. The MoU also outlined a framework for future collaboration on clean energy projects.
AMP (ASX:AMP)
The company announced that AMP Capital will continue to act as trustee and manager of the $7b Wholesale Office Fund (AWOF). The independent committee hired by AMP has recommended against moving the funds under a third party.
Vulcan Energy (ASX:VUL)
The zero-carbon lithium play, which has fallen by around 30% since coming under attack from short-sellers, announced this morning that it’s signed a binding lithium hydroxide offtake agreement with car manufacturer Renault Group. Conditions precedent — events that must come to pass before the contract is considered in effect — include successful start of commercial production and full product qualification.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| NST | Northern Star | 10.06 | -3.8241 | 3609024 | $ 12,181,833,141.54 |
| QAN | Qantas Airways | 5.26 | -4 | 11148519 | $ 10,335,524,945.04 |
| TNE | Technology One | 12.92 | -3.7975 | 810218 | $ 4,320,214,038.35 |
| FLT | Flight Centre Travel | 18.34 | -7 | 3849929 | $ 3,941,412,344.50 |
| CTD | Corp Travel Limited | 23.26 | -6 | 511595 | $ 3,387,218,224.50 |
| IMU | Imugene Limited | 0.53 | -6 | 19245248 | $ 3,205,305,890.05 |
| BPT | Beach Energy Limited | 1.195 | -4 | 11873258 | $ 2,840,260,401.72 |
| APM | APM Human Services | 2.85 | -5 | 3231987 | $ 2,695,864,149.00 |
| WEB | Webjet Limited | 5.69 | -3.7225 | 4259561 | $ 2,248,813,030.29 |
| BKL | Blackmores Limited | 97.48 | -3.9984 | 34808 | $ 1,968,276,338.84 |
| CEN | Contact Energy Ltd | 7.3 | -5 | 885 | $ 1,895,477,075.80 |
| SLR | Silver Lake Resource | 1.785 | -4 | 4906881 | $ 1,651,264,086.45 |
| TYR | Tyro Payments | 3.05 | -4 | 3373488 | $ 1,638,907,172.52 |
| MAQ | Macquarie Telecom Gp | 68 | -4 | 6314 | $ 1,524,156,939.30 |
| ERA | Energy Resources | 0.365 | -9 | 394587 | $ 1,476,553,279.20 |
| GOR | Gold Road Res Ltd | 1.6 | -4 | 2349692 | $ 1,472,606,068.47 |
| CXL | Calix Limited | 7.29 | -7 | 731260 | $ 1,268,933,286.84 |
| URW | Unibailrodawestfield | 4.81 | -5 | 633086 | $ 1,002,991,509.00 |