The ASX 200 managed to hold its ground and finished the day 0.31% higher, despite omicron cases raging across NSW and Vic.

NSW Premier Dominic Perrottet backflipped on his mask wearing policy and has now mandated the wearing of masks indoors, and encouraged people in the state to work from home.

Most sectors were in the green but Tech was the clear underperformer, down by almost 1%.

In large cap news, Crown Resorts (ASX:CWN) copped a $1m fine from the Victorian gambling regulator for breaching junket rules. The CWN stock price rose 0.17%.

Today’s moves followed a strong session on Wall Street overnight where all three major stock market indexes staged their second consecutive day of gains.

US investors were upbeat after a slew of positive US economic data were released to the market

BIG CAP WINNERS

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After losing almost 30% in the last five days, embattled fund manager Magellan Financial (ASX:MFG) recovered slightly by 5.7% today, following a video update featuring founder and CEO, Hamish Douglass.

In the video, Douglass said that his divorce was amicable and would not lead to a dumping of stocks by his spouse or family members.

After rising 6% yesterday, Pexa Group (ASX:PXA) rose another 7% today.

Pexa’s rise has been linked to its biggest shareholder Link Administration (ASX:LNK)’s potential takeover by Dye & Durham.

BIG CAP LOSERS

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Bega Cheese (ASX:BGA) slumped 10% after releasing a trading update in which it warned of a much lower earnings in FY22.

Bega has forecast normalised earnings to come in at between $195m to $215m for FY22, far lower than estimates.

Wisetech (ASX:WTC) was down 2.6% after reporting that its CEO Richard White had dumped 1.3% (or 4.3 million shares) of his stake in WTC through a company he holds.

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