Here are the top ASX large cap movers for Wednesday

The ASX 200 finished lower today by 0.36% after recovering from a 0.72% fall at the open.

The iron ore spot price rebounded overnight by almost 5%, but iron ore plays did not respond to the move today, with major players like Fortescue (ASX:FMG) and BHP (ASX:BHP) falling by 0.4% and 0.8% respectively.

Instead the Financials sector led, with Real Estate and Consumer Staple sectors being the laggards.

Today’s broader index slide was also exacerbated by 15 stocks that were trading ex-dividend that include Adairs (ASX:ADH), which fell by 4%.

Market reaction to ex-div stocks:
– $SBM -6.6%
– $SSG -5.2%
– $PAC -4.6%
– $ADH -4.2%
– $AX1 -3.6%
– $ASB -3.5%
– $AVJ -3.2%
– $SEK -2.5%
– $BXB -2.2%
– $MPL -1.7%
– $BKL -1.7%
– $KME -1.4%
– $MNY -0.7%
– $EHL -0.44% https://t.co/6JJwCo4xow

— CommSec (@CommSec) September 8, 2021

BIG CAP WINNERS

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Macquarie Group (ASX:MQG) led the Financials sector today, and rallied by 4.6% after reporting a full year net profit of $3.01bn for FY21 vs $2.75bn in FY20.

Novonix (ASX:NVX) was the biggest gainer in the large end of town, rising by 10% on no news.

Diversified company Washington H Soul Pattinson (ASX:SOL) rose by 5%, also on no news. The company does have a bunch of financial stocks in its portfolio.

Logistics solutions provider Qube Logstics (ASX:QUB) rose by 4.5% after entering into an agreement to acquire Newcastle Agri Terminal from the existing shareholders CBH, Viterra Australia, Riverina and CTC Terminals. Total consideration is in the order of $90 million, which will be funded through Qube’s existing undrawn debt facilities.

BIG CAP LOSERS

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