While Wall Street has been on a tear, local large caps have struggled for traction to start the week.
The ASX 200 traded flat today to finish 0.1%, as gains in resources were offset by falls in banking and energy stocks.
The big end of town was comfortably outperformed by the ASX Emerging Companies index, which rose more than 1%.
Among larger stocks, the ASX 200 Information Technology index rebounded from yesterday’s falls to post a gain of 1.12%.
The ASX 200 Resources index rose by a similar amount with steady gains for the iron ore majors, but Australia’s big banks all dipped by around 1% and oil & gas stocks continued their decline following last month’s red-hot rally.
BIG CAP WINNERS
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Code Name Price % Change Volume Market Cap CHN Chalice Mining Ltd 8.7 28.5% 7,171,613 $2,389,391,479 AVZ AVZ Minerals Ltd 0.525 15.4% 33,440,115 $1,464,268,569 NVX Novonix Limited 9.51 8.3% 5,879,555 $4,236,911,586 SDR Siteminder 7.55 7.7% 3,781,606 $1,888,212,205 LYC Lynas Rare Earths 7.8 7.6% 9,236,340 $6,542,483,767 PDN Paladin Energy Ltd 0.99 7.0% 28,582,122 $2,477,371,974 360 Life360 Inc. 12.41 6.9% 632,381 $1,811,579,075 CTT Cettire 4 6.7% 1,336,522 $1,429,643,325 DEG De Grey Mining 1.17 6.4% 8,936,199 $1,547,065,878 PBH Pointsbet Holdings 8.81 6.3% 3,963,967 $2,180,917,482 PXA Pexagroup 16.37 5.2% 360,541 $2,759,189,261 TYR Tyro Payments 3.34 5.0% 4,204,564 $1,638,907,173 RMS Ramelius Resources 1.71 4.9% 18,037,638 $1,329,321,621 IGO IGO Limited 9.32 4.8% 2,963,578 $6,732,110,858
Today’s most notable large cap mover was Chalice Mining (ASX:CHN), which was a small cap explorer in March last year and is now a $2.4bn company sitting on the largest PGE discovery in Australian history.
Just over 18 months since its Julimar discovery, Chalice confirmed its maiden resource and said there could be more to come, with just 7% of Julimar’s 26km strike-length covered so far.
Also rising strongly was SiteMinder (ASX:SDR), the latest red-hot tech play to hit the ASX, which posted more solid gains following its sparkling debut yesterday.
Wagering platform Pointsbet Holdings (ASX:PBH) also found demand, after advising this morning it was one of nine companies recommended by the New York State Gaming Commission to be awarded “a Platform Provider licence to operate mobile sports wagering in New York”.
Other notable large cap leaders included $2.5bn uranium company Paladin Energy (ASX:PDN) and WA-based gold play De Grey Mining (ASX:DEG).
BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| QBE | QBE Insurance Group | 11.67 | -2.3% | 3,180,500 | $17,629,562,426 |
| SUN | Suncorp Group Ltd | 11.23 | -2.8% | 3,403,910 | $14,818,265,096 |
| GQG | GQG Partners | 1.965 | -2.7% | 645,380 | $5,964,666,977 |
| BEN | Bendigo and Adelaide | 9.14 | -2.6% | 1,707,064 | $5,260,350,506 |
| AGL | AGL Energy Limited. | 5.36 | -2.9% | 6,494,357 | $3,634,252,930 |
| GNE | Genesis Energy Ltd | 2.98 | -3.6% | 56,256 | $3,224,627,132 |
| CSR | CSR Limited | 6.06 | -4.1% | 3,307,948 | $3,067,619,144 |
| HLS | Healius | 4.77 | -2.3% | 1,705,140 | $3,041,008,903 |
| DDR | Dicker Data Limited | 14.59 | -2.4% | 113,819 | $2,583,860,272 |
| OCL | Objective Corp | 20.5 | -2.4% | 2,056,024 | $1,982,770,041 |
| AX1 | Accent Group Ltd | 2.5 | -2.3% | 651,311 | $1,387,178,790 |
| TPW | Temple & Webster Ltd | 10.99 | -2.7% | 947,570 | $1,361,118,086 |
| ING | Inghams Group | 3.39 | -4.5% | 1,953,377 | $1,319,462,584 |
| PPK | PPK Group Limited | 12.03 | -2.4% | 263,076 | $1,100,044,090 |
| IAP | Irongate Group | 1.59 | -5.1% | 288,193 | $1,080,897,079 |
| JIN | Jumbo Interactive | 16.19 | -3.2% | 59,806 | $1,044,927,125 |