Financial stocks were the only sector in the green today, with the benchmark ASX 200 index falling by 0.3% at the close.

It was the first time this week the local bourse finished in the red, in a broad-brushed selloff led by the Energy sector, which finished almost 2% lower.

Global oil prices fell by 2% overnight with the benchmark Brent crude now trading at US$84.58, after Iran and European Union agreed to further nuclear talks that could potentially lead to the lifting of US sanctions on Iranian oil exports.

ASX oil giants like Woodside Petroleum (ASX:WPL) fell as a result, with WPL down by 2%.

Corporate earnings headlined today’s proceedings, with companies like ANZ Bank (ASX:ANZ) reporting their earnings.

ANZ Bank’s full year cash profit jumped 65% to $6.2bn, beating most analysts’ forecast, despite a weaker mortgage book.

The ANZ stock price rose by 0.6%, which helped to push sentiment on financial stocks today.

Meanwhile RBA deputy governor, Dr. Guy Debelle, told a Senate hearing that a little bit of inflation is welcome after seeing positive things since lockdowns were lifted in some states.

“The monetary policy settings we have in place, as do other central banks around the world, are looking to generate a little higher inflation than we have seen over the last five, six years, as well generate more jobs,” Dr Debelle said.

“A little bit more inflation is welcome, a lot more inflation isn’t.”

Yesterday, ABS CPI release showed that Australian’s Q3 inflation rose by 0.8% q/q and 3% y/y. Core inflation jumped to 2.1%, topping forecast of 1.8%.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
RWC Reliance Worldwide 5.73 5.3% 2231874 4298115522
ABB Aussie Broadband 4.82 5.2% 756784 1025150336
BLD Boral Limited 6.63 4.9% 2665866 6971518808
REH Reece Limited 18.92 4.9% 671645 11653554625
AVZ AVZ Minerals Ltd 0.36 4.3% 12585216 1110269575
NVX Novonix Limited 6.85 4.1% 3941630 3175270870
OCL Objective Corp 21.49 3.9% 25858 1953500578
NEA Nearmap Ltd 2.21 3.8% 2124220 1060295827
LTR Liontown Resources 1.875 3.6% 7404816 3459232871
LKE Lake Resources 0.89 3.5% 16317020 1028957482
JBH JB Hi-Fi Limited 48.47 3.4% 465867 5386881313
GOR Gold Road Res Ltd 1.385 3.0% 3137107 1185356219
IMD Imdex Limited 2.93 2.8% 1872062 1129889340
DEG De Grey Mining 1.1175 2.5% 9018701 1532772742
360 Life360 Inc. 10.61 2.4% 552752 1616533955

Water flow services Reliance Worldwide (ASX:RWC) was up, after saying that it expects further growth in the US and Asia Pacific into FY22, despite persistent supply chain issues. The company has just reported a record FY21, with NPAT doubling to $188m.

Concrete and quarries company, Boral Ltd (ASX:BLD) traded higher after the company says that its outlook for the remainder of FY22 will see a rebound as lockdowns are lifted. This is despite a 6% fall in revenue to $2.9 billion in FY21.

Aussie Broadband (ASX:ABB) was up after holding an AGM this morning where the company presented its FY21 revenue of $350m, a 84% growth y-y.

The company says its ongoing fibre build project will improve margins and EBITDA from FY23 onwards, as it transitions services off its current backhaul agreements with other carriers.

“Guided by our values of think big, don’t be ordinary – be awesome, no bull***, be good to people and most importantly, have fun, our team have a clear set of instructions in how we operate,” said ABB CEO, Phil Britt.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
PBH Pointsbet Holdings 8.68 -17.8% 10151824 2778104778
WAF West African Res Ltd 1.27 -9.0% 16570498 1233043448
IFL IOOF Holdings Ltd 4.22 -8.1% 4536699 2980398794
BET Betmakers Tech Group 1.15 -6.5% 5733009 1054845458
SYA Sayona Mining Ltd 0.155 -6.1% 53477504 1132940886
CDA Codan Limited 10.29 -6.0% 3425735 1980679088
ORE Orocobre Limited 8.88 -5.7% 4049413 6005491020
NIC Nickel Mines Limited 1.03 -5.5% 5541954 2741381666
AWC Alumina Limited 2.01 -4.7% 9494789 6122547790
NWS News Corp.. 30.4 -4.6% 304620 1189774045
WHC Whitehaven Coal 2.705 -4.4% 32961382 2922383177
CIA Champion Iron Ltd 4.315 -4.3% 2535642 2284278361
S32 South32 Limited 3.57 -4.3% 19245790 17399710889
JHG Janus Henderson 57.09 -4.2% 75861 1763668094
PLS Pilbara Min Ltd 2.13 -3.6% 16772989 6562122467

Pointsbet (ASX:PBH) was down 17% despite turnover rising by 42% and the US business growing rapidly in the US. The company however reported negative cash of $38m for the quarter.

Whitehaven Coal (ASX:WHC) tumbled 5% after coal futures prices plunged this week as traders dumped their positions in light of the Chinese government crackdown on coal hoarding.