Here are the top ASX large cap movers for Wednesday
The ASX 200 index fell today, despite the latest Australian GDP data showing a 0.7% growth in the last quarter, beating expectations of 0.3%.
The data however did not take into account the latest lockdowns, and economists are expecting a fall in the the September quarter’s GDP.
The Energy sector gained 1% despite oil prices retreating by 1% overnight.
Retail stocks were the main drag today, with both Consumer Disrectionary and Staples falling by over 1%.
Dragging retail down was Wesfarmers (ASX:WES), which fell by nearly 2% on no news.
Bank stocks however rose, as NAB (ASX:NAB) lifted by 2% as it continues to buy back its shares in the open market as part of its announced $2.5b share buyback.
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Paladin Energy (ASX:PDN) was the biggest big cap winner today, rising by 12% after uranium prices hit 5 year highs overnight.
Data centre company Dicker Data (ASX:DDR) rose by 5.7% after CEO David Dicker released an announcement after hours yesterday to say that he was selling 1.6% of his shares in the company.
In the release, he told shareholders what he was going to do with the money : Rodin Cars, purchase of a used Bombardier Global XRS, and a return to trading in the US markets.
“None of these projects detract from my ability to continue to function as Chairman and CEO of Dicker Data. I hope this letter clears things up,” he said.
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Fortescue (ASX:FMG) fell by more than 3%, following a broker downgrade out of Goldman Sachs the previous day. Goldman said it has retained its sell rating on FMG.