The ASX 200 tracked sideways for the second straight day on Thursday, eking out an 0.11% gain after yesterday’s 0.15% fall.

While the washout was more or less even, the main movers were basically a reverse of yesterday’s price action.

Large cap tech stocks bounced back as the ASX 200 IT index rose by 2.4%, while energy stocks gave back some ground.

Australia’s big banks fell for the second straight day, while the mining majors all posted steady gains as iron ore prices climbed back above US$100/t.

Looking ahead, there are unlikely to be any catalysts on global markets overnight with the S&P500 closed for Thanksgiving.

BIG CAP WINNERS

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Code Name Price % Change Volume Market Cap
EML EML Payments Ltd 3.61 31.3% 19,701,927 $1,026,924,866
NVX Novonix Limited 10.73 11.9% 6,394,776 $4,627,788,396
NIC Nickel Mines Limited 1.41 7.2% 15,747,921 $3,307,263,202
YAL Yancoal Aust Ltd 2.85 6.7% 242,917 $3,525,573,297
FPH Fisher & Paykel H. 32.3 4.6% 1,688,225 $17,823,566,922
OML Ooh!Media Limited 1.76 4.5% 2,913,248 $1,008,718,296
MIN Mineral Resources. 45.75 4.4% 1,487,041 $8,273,527,744
TNE Technology One 11.96 4.3% 1,898,971 $3,689,713,702
APT Afterpay Limited 111.74 4.2% 651,347 $31,131,259,409
LTR Liontown Resources 1.875 3.9% 7,732,890 $3,450,579,480
OCL Objective Corp 20.27 3.4% 28,189 $1,852,019,798
DMP Domino Pizza Enterpr 125.78 3.3% 182,414 $10,543,132,264
MP1 Megaport Limited 21.51 3.2% 427,219 $3,286,213,398
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Among stocks with a market cap of $1bn+, the big winner was EML Payments (ASX:EML) which provided an update on the regulatory issues surrounding its subsidiary, PFS Card Services (Ireland) Limited (PCSIL).

Shares in EML sold off sharply back in May after Ireland’s Central Bank (CBI) raised concerns in relation to PCSIL’s Anti-Money Laundering/Counter Terrorism Financing (AML/CTF) risk and control frameworks and governance.

This morning, investors approved of an update when EML said the CBI had agreed to allow PCSIL to continue to sign new customers and add programs, while also maintaining engagement regarding “appropriate limits” for PCSIL’s operations under its Risk Management and Controls Framework.

Another large cap winner was the ~$17bn home appliances company Fisher & Paykel (ASX:FPH), which rose by almost 5% after investors responded positively to its half-year report.

Elsewhere, BNPL leader Afterpay (ASX:APT) also bounced back after a selloff earlier in the week. With provisional approval for the Square Inc takeover, APT are increasingly moving in step with the direction of its pending parent company on the Nasdaq. Shares in Square Inc rose by 2.45% overnight to US$215.

Also among the large cap leaders was zero-carbon lithium market darling Vulcan Energy (ASX:VUL), which rose 3.59% to $10.69.

While VUL shares have stabilised above $10, the stock still hasn’t bounced back to the $15 range it was trading at before J Capital’s short report last month.

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
MEZ Meridian Energy 4.37 -3.7% 90,047 $5,725,355,201
BEN Bendigo and Adelaide 8.61 -3.4% 3,546,369 $4,996,840,613
AMP AMP Limited 1.045 -5.0% 19,556,871 $3,592,716,438
SNZ Summerset Grp Hldgs 12.55 -4.0% 640 $3,008,914,834
360 Life360 Inc. 12.3 -8.3% 2,683,503 $2,108,047,657
KLS Kelsian Group Ltd 6.83 -3.3% 357,079 $1,541,897,279
HTA Hutchison 0.105 -4.5% 301,932 $1,492,975,943
WAF West African Res Ltd 1.3 -3.7% 3,791,060 $1,330,630,353
HSN Hansen Technologies 5.7 -4.5% 300,935 $1,197,097,278
CXL Calix Limited 7.03 -3.4% 172,186 $1,172,314,001
PEB Pacific Edge 1.27 -3.8% 6,867 $1,068,422,314
SYA Sayona Mining Ltd 0.14 -6.7% 62,106,163 $1,056,750,070
KMD Kathmandu Hold Ltd 1.435 -3.0% 678,200 $1,049,322,048
SIQ Smartgrp Corporation 7.57 -3.3% 395,318 $1,045,633,696
KGN Kogan.Com Ltd 8.49 -4.3% 1,848,834 $948,098,414
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Among stocks with news, ~$2bn location-sharing app Life360 (ASX:360) dipped after announcing a $280m capital raising with institutional investors to fund the acquisition of US consumer electronics company Tile Inc, which makes tracking devices that users attach to their belongings such as backpacks and computers.

Elsewhere, online retailer Kogan.com (ASX:KGN) also lost ground following the release of its AGM presentation. Shares in KGN have now fallen by more than 60% from their post-COVID highs of almost $22 in January.