After falling by 0.65% last week, the ASX 200 was more on an upbeat mood today, lifting by 0.57 %.

Positive sentiment in the market was buoyed by travel stocks, which rose across the board after an announcement by Premier Gladys Berejiklian.

The Premier detailed a three-step pathway towards ‘Freedom Day’ of December 1st – essentially the day when 90% of the NSW population will have been fully vaccinated, and international travel could resume.

Qantas (ASX:QAN) rose by 3% and briefly touched a 12-month high of $5.88.

The Energy sector however, was the best performer for the day as Brent crude reached a 3-year high overnight.

Woodside Petroleum (ASX:WPL) and Oil Search (ASX:OSH) both rose by 2%.

The Financial sector was also up by 1.5% and played to the reopening theme, with Commonwealth Bank (ASX:CBA) leading the pack and rising by 3%.

Meanwhile, uranium stocks were under pressure today as uranium prices eased to US$44.3/lb from the over US$50 they were fetching a week ago.

Uranium miner Paladin Energy (ASX:PDN) was the clear underperformer in the sector, slumping by 8%

 

BIG CAP WINNERS

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AVZ Minerals (ASX:AVZ) was the best performing large capped stock today, rising by almost 11%, after securing a cornerstone investor, Suzhou CATH Energy Technologies, to support the development of its Manono Lithium and Tin Project.

CATH will pay US$240 million cash for a 24% equity interest in the project, with further amounts to be paid as its pro rata portion of funding to develop the mines.

Flight Centre (ASX:FLT) and Webjet (ASX:WEB) rose by 7% and 5% respectively, on the back of reopening announcements by the NSW Premier Gladys Berejiklian.

Fortescue Metals (ASX:FMG), Mineral Resources (ASX:MIN) and Lynas Rare Earths (ASX:LYC) rose 3%  on the back of firmer commodities including spot iron ore prices overnight.

Buy-now-pay-later (BNPL) stock Zip Co (ASX:Z1P) meanwhile, rose another 3.5% again and is up 15% over the last week, since announcing its entrance in India last week.

BIG CAP LOSERS

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Along with Paladin, Energy Resources of Australia (ASX:ERA) was also the worst performing large capped stock, falling by 10%.

ERA fell after revealing that there will be cost overruns in its Ranger Rehabilitation Project.

ERA is one of the nation’s largest uranium oxide producers and operates the Ranger mine, Australia’s longest continually operating uranium mine.

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