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Here are the top ASX large cap movers for Tuesday
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The ASX 200 followed Wall Street lower in Tuesday trade, in line with what looks like the emergence of a broader global trend; buy oil and gold, sell tech.
The ASX 200 Energy index is up by around 18% since September 20, and oil & gas stocks again outperformed today after OPEC member states last night poured cold water on the idea of accelerating production as crude prices rise.
Higher energy costs combined with a global shipping crunch continues is providing some support for the narrative of more sustained supply-side inflation in the months ahead.
In that environment, gold stocks are also outperforming while high-growth tech stocks are coming under pressure.
Falls on the ASX today were led by the ASX 200 Information Technology index which slipped by around 3%.
The broader ASX 200 index rallied slightly into the close to finish 0.56% lower.
BIG CAP WINNERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DEG | De Grey Mining | 1.06 | 9.8% | 10,590,687 | $1,247,182,464 |
| GOR | Gold Road Res Ltd | 1.335 | 7.2% | 6,988,025 | $1,097,225,645 |
| RBL | Redbubble Limited | 4.47 | 7.2% | 2,053,122 | $1,150,587,330 |
| SLR | Silver Lake Resource | 1.49 | 5.7% | 6,757,790 | $1,248,308,968 |
| ERA | Energy Resources | 0.355 | 4.4% | 466,721 | $1,255,070,287 |
| RRL | Regis Resources | 2.16 | 4.3% | 11,134,474 | $1,562,262,991 |
| WPL | Woodside Petroleum | 25.08 | 4.0% | 6,788,738 | $23,387,519,643 |
| YAL | Yancoal Aust Ltd | 3.67 | 3.7% | 620,087 | $4,674,355,607 |
| NST | Northern Star | 9.22 | 3.5% | 6,157,029 | $10,376,685,783 |
| RMS | Ramelius Resources | 1.435 | 3.2% | 4,446,083 | $1,132,449,697 |
| PRU | Perseus Mining Ltd | 1.455 | 2.8% | 3,173,252 | $1,736,161,942 |
| ORG | Origin Energy | 5.05 | 2.6% | 9,637,010 | $8,665,158,469 |
| IFT | Infratil Limited | 7.98 | 2.6% | 62,885 | $5,633,835,076 |
| STO | Santos Ltd | 7.26 | 2.5% | 23,581,163 | $14,748,107,570 |
| HDN | Homeco Daily Needs | 1.615 | 2.5% | 3,095,886 | $1,245,295,444 |
| EVN | Evolution Mining Ltd | 3.71 | 2.5% | 6,266,820 | $6,635,240,063 |
| WHC | Whitehaven Coal | 3.45 | 2.4% | 14,942,555 | $3,480,011,062 |
| OSH | Oil Search Ltd | 4.44 | 2.3% | 17,002,838 | $9,017,871,882 |
Large cap gains were led by $1.24bn gold play De Grey Mining (ASX:DGM), after a scoping study showed the company’s Hemi discovery has the capacity to produce 473,000oz of gold a year for the first five years of operation.
Also rising strongly was online retail company RedBubble (ASX:RBL), which rose by more than 7% on no news a day after dropping 4% following the release of its annual report.
In line with the broader market trends, the Tuesday large winner’s list was also populated by a host of large cap oil & gas plays along with other gold stocks.
Leading the pack in energy was Woodside Petroleum (ASX:WPL), which rose by more than 3%.
Shares in $1.25bn uranium producer Energy Resources Australia (ASX:ERA) climbed by around 4%, a day after the company announced the resignation of its CEO Paul Arnold, who was in the job on secondment from Rio Tinto and will now return there.
Brad Welsh — also on secondment from Rio — will step into the acting CEO role while “recruitment for a replacement will commence immediately”, the company said.
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DUB | Dubber Corp Ltd | 3.08 | -9.7% | 4,186,904 | $1,012,919,508 |
| NVX | Novonix Limited | 5.19 | -8.9% | 10,214,161 | $2,750,614,583 |
| SYA | Sayona Mining Ltd | 0.155 | -8.8% | 49,582,894 | $1,045,520,544 |
| VUL | Vulcan Energy | 11.5 | -8.3% | 2,489,502 | $1,550,021,485 |
| PPK | PPK Group Limited | 13.48 | -8.2% | 570,080 | $1,311,659,714 |
| SZL | Sezzle Inc. | 5.1 | -7.9% | 1,863,325 | $1,096,675,786 |
| AVZ | AVZ Minerals Ltd | 0.305 | -7.6% | 24,551,299 | $1,061,996,984 |
| INR | Ioneer Ltd | 0.58 | -7.2% | 24,595,120 | $1,190,123,063 |
| SLK | Sealink Travel Grp | 7.78 | -6.3% | 966,092 | $1,812,712,098 |
| OCA | Oceania Healthc Ltd | 1.34 | -6.0% | 2,714 | $1,010,140,341 |
| IMU | Imugene Limited | 0.42 | -5.6% | 32,929,755 | $2,436,073,529 |
| PGH | Pact Group Hldgs Ltd | 3.61 | -5.2% | 438,501 | $1,311,745,102 |
| APX | Appen Limited | 8.5 | -5.0% | 2,153,692 | $1,101,520,498 |
| APT | Afterpay Limited | 113.6 | -5.0% | 1,214,660 | $34,694,398,502 |
| PTM | Platinum Asset | 3.31 | -4.9% | 3,023,249 | $2,041,642,572 |
| Z1P | Zip Co Ltd. | 6.52 | -4.8% | 8,660,191 | $3,867,790,480 |
| OML | Ooh!Media Limited | 1.755 | -4.6% | 1,531,548 | $1,101,508,406 |
| HTA | Hutchison | 0.105 | -4.5% | 63,250 | $1,492,975,943 |
| TYR | Tyro Payments | 3.73 | -4.4% | 2,384,858 | $2,002,739,103 |
Just like the winner’s list skewed towards gold and energy, today’s big cap losers table showed an obvious lean towards tech stocks — most notably BNPL.
Leading the laggards in that sector was Sezzle (ASX:SZL), which fell more than 7% and is now trading just slightly above Stockhead’s $1bn large-cap cutoff with a market cap of around $1.08bn.
Afterpay (ASX:APT) dipped by another 5% and is now at its lowest levels since Square Inc’s ~$38bn bid for the company was announced in August.
A number of other tech market darlings continue to come under pressure, including cloud-based call recording software company Dubber (ASX:DUB) which has now fallen by around 30% since mid-September.
Battery technology company Novonix (ASX:NVX) fell by around 9%, as did zero-carbon lithium stock Vulcan Energy (ASX:VUL), while diversified tech group PPK Group (ASX:PPK) continued its descent from recent all-time highs above $21.
