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Here are the top ASX large cap movers for Monday
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The ASX 200 finished in the red to start the week, after energy stocks got belted following another fall in global oil prices on Friday night.
Demand-side concerns linked to the Delta variant have seen brent crude fall back below US$70/barrel, and the ASX 200 Energy index lost around 3% in Monday trade.
The two largest sectors — financials and resources — also lost ground, with the big four banks all lower while Bendigo & Adelaide Bank (ASX:BEN) slumped by around 10% following its $116m deal to acquire neobank Up.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| GPT | GPT Group | 4.78 | 2.6% | 4,236,259 | $8,926,590,824 |
| CAR | Carsales.Com Ltd. | 23.41 | 3.6% | 1,844,330 | $6,369,625,087 |
| A2M | The A2 Milk Company | 6.7 | 12.4% | 17,728,153 | $4,431,323,510 |
| DOW | Downer EDI Limited | 6.24 | 2.8% | 3,046,477 | $4,227,446,347 |
| MLT | Milton Corporation | 6.3 | 2.6% | 1,223,714 | $4,139,774,435 |
| TYR | Tyro Payments | 3.47 | 3.0% | 1,567,322 | $1,727,179,648 |
| OCL | Objective Corp | 18.46 | 2.6% | 19,961 | $1,696,574,178 |
| TLX | Telix Pharmaceutical | 6.28 | 8.3% | 954,902 | $1,633,415,766 |
| IMU | Imugene Limited | 0.305 | 5.2% | 9,512,665 | $1,537,877,321 |
| ASM | Ausstratmaterials | 10.68 | 4.5% | 1,094,022 | $1,425,751,381 |
| PPK | PPK Group Limited | 16.55 | 13.5% | 790,777 | $1,298,375,142 |
Among stocks with news, gains were led by real estate investment trust GPT Group (ASX:GPT), which edged higher following the release of its half-year results.
Analysts at UBS said it was a “solid result ahead of expectations”, with leasing of retail space “tracking ahead of expectations as well”.
Online vehicle marketplace carsales.com (ASX:CAR) climbed following the release of its full-year results.
Payments company Tyro (ASX:TYR) also posted a gain following its weekly post-COVID trading update.
BIG CAP LOSERS
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Accompanying the fall in oil prices, two oil & gas plays — Beach Energy (ASX:BPT) and Woodside Petroleum (ASX:WPT) — fell sharply on Monday.
Investors sent Beach almost 10% lower following the release of its full-year results presentation, while Woodside responded to media speculation by advising that it’s “engaged in discussions with BHP regarding a potential merger involving BHP’s entire petroleum business through a distribution of Woodside shares to BHP shareholders”.
Development firm LendLease (ASX:LLC) also fell sharply following the release of its full-year results.
UBS said LLC’s guidance indicates “FY22 will be a transition year. The market will like cost savings, but will be disappointed by ROE (return on equity) targets not being met until approximately FY24”.
