The top 25 ASX large cap movers for Wednesday
Top 25 ASX movers for Wednesday 14 July. Pic Twitter
The ASX 200 finished higher by 0.37% today, with the Tech sector the only sector in the red, falling almost 3%.
Buy-now-pay-later (BNPL) headlined today’s trading, with the likes of ASX BNPL stocks such as Afterpay (ASX:APT), Zip Co (ASX:Z1P), and Sezzle (ASX:SZL) plunging by around 10% each.
The selloff was triggered by news overnight that Apple was planning on partnering with banking heavyweight Goldman Sachs to develop a BNPL option for its customers.
Although Apple declined to comment, it’s clear the company wants to expand its current Apple Card offering into a bigger financial services product that utilises its Wallet app.
But the bigger news affecting today’s price moves was the launching of Paypal’s “Pay in 4” BNPL instalment option in Australia, effective today.
The Pay-in-4 offering will do away with late fees charges, putting pressure on Afterpay’s revenue model, which made $70 million last year on these fees.
Paypal has said that people who miss a payment do so “by mistake, not by design.”
The competition from Paypal, with its 9 million Australian customers, is said to be the biggest threat to Australia’s emerging BNPL sector, which has so far grown rapidly in the absence of oversight.
TOP 25 BIG CAP WINNERS
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MAQ | Macquarie Telecom Gp | 63.5 | 15 | 6594 | $ 1,182,565,207.77 |
| VUL | Vulcan Energy | 10.2 | 11 | 2838652 | $ 1,000,583,839.60 |
| SKI | Spark Infrastructure | 2.48 | 8 | 6163929 | $ 4,036,394,844.00 |
| BKL | Blackmores Limited | 76.43 | 6 | 119299 | $ 1,394,123,712.81 |
| EHL | Emeco Holdings | 1.265 | 5 | 3170328 | $ 652,866,160.80 |
| SM1 | Synlait Milk Ltd | 3.68 | 5 | 80924 | $ 765,035,813.50 |
| RMS | Ramelius Resources | 1.765 | 5 | 2493269 | $ 1,367,549,006.88 |
| INR | Ioneer Ltd | 0.425 | 5 | 7246961 | $ 771,096,001.73 |
| API | Australian Pharm. | 1.44 | 5 | 7515087 | $ 677,402,048.13 |
| HTA | Hutchison | 0.115 | 5 | 150001 | $ 1,492,975,943.47 |
| LSF | L1 Long Short Fund | 2.53 | 5 | 1185729 | $ 1,468,018,192.96 |
| APA | APA Group | 9.52 | 4 | 4756715 | $ 10,772,430,832.24 |
| BFG | Bell Financial Group | 1.73 | 4 | 278087 | $ 532,434,953.68 |
| PNI | Pinnacle Investment | 12.32 | 4 | 309560 | $ 2,254,608,779.15 |
| EVN | Evolution Mining Ltd | 4.82 | 4 | 6792614 | $ 7,911,128,603.55 |
| PPH | Pushpay Holdings Ltd | 1.69 | 4 | 1349308 | $ 1,794,483,049.13 |
| AST | AusNet Services Ltd | 1.84 | 4 | 20496251 | $ 6,779,037,140.22 |
| NST | Northern Star | 10.63 | 4 | 5535779 | $ 11,904,513,089.37 |
| TPW | Temple & Webster Ltd | 10.7 | 4 | 283431 | $ 1,240,665,158.40 |
| SKO | Serko | 6.9 | 4 | 20055 | $ 718,203,305.05 |
| KGN | Kogan.Com Ltd | 11.68 | 4 | 1405762 | $ 1,199,883,199.38 |
| RFF | Rural Funds Group | 2.63 | 4 | 510010 | $ 863,347,412.24 |
| SVW | Seven Group Holdings | 22.85 | 3 | 1993621 | $ 8,020,793,783.04 |
| SLR | Silver Lake Resource | 1.785 | 3 | 4634375 | $ 1,520,717,418.38 |
| SYR | Syrah Resources | 1.16 | 3 | 3648180 | $ 560,487,907.13 |
Spark Infrastructure (ASX:SKI) is in a trading halt after rising by 7% on no news.
Macquarie Telecom (ASX: MAQ) rose by 14% after saying that it has lodged a State Significant Development Application to build a new data centre at the Macquarie Park Data Centre Campus, within the Sydney North Zone.
Seven Group (ASX:SVH) rose by 4% after acquiring 48.41% of Boral (ASX:BLD) shares. The company needs a 50% stake by 7pm tomorrow if its takeover of Boral is to be successful.
TOP 25 BIG CAP LOSERS
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| Z1P | Zip Co Ltd. | 7.32 | -11 | 25658754 | $ 4,643,239,213.48 |
| SZL | Sezzle Inc. | 7.96 | -10 | 1260407 | $ 918,921,879.33 |
| APT | Afterpay Limited | 107 | -10 | 2930378 | $ 34,268,512,929.75 |
| LYC | Lynas Rare Earths | 6.04 | -6 | 7789432 | $ 5,766,902,905.60 |
| CEN | Contact Energy Ltd | 7.47 | -5 | 74942 | $ 1,921,167,432.90 |
| LTR | Liontown Resources | 0.8 | -5 | 16572753 | $ 1,537,147,933.95 |
| WAF | West African Res Ltd | 1.05 | -5 | 3990883 | $ 975,926,513.58 |
| DUB | Dubber Corp Ltd | 2.92 | -5 | 568689 | $ 787,788,834.87 |
| JMS | Jupiter Mines. | 0.295 | -5 | 1949702 | $ 607,287,220.23 |
| CTT | Cettire | 2.25 | -5 | 1311258 | $ 899,722,199.20 |
| PNV | Polynovo Limited | 2.3 | -5 | 3763364 | $ 1,593,945,186.04 |
| MGH | Maas Group Holdings | 4.76 | -4 | 180603 | $ 1,370,502,354.97 |
| PRN | Perenti Global Ltd | 0.815 | -4 | 7070887 | $ 598,650,937.85 |
| SHV | Select Harvests | 7.22 | -4 | 613850 | $ 905,289,506.10 |
| OMH | OM Holdings Limited | 0.825 | -4 | 126786 | $ 635,216,069.82 |
| HUM | Humm Group Limited | 0.97 | -4 | 2323577 | $ 500,221,001.18 |
| PLL | Piedmont Lithium Inc | 0.925 | -4 | 1784807 | $ 566,793,408.00 |
| FLT | Flight Centre Travel | 15.1 | -3 | 2141623 | $ 3,115,801,331.22 |
| NWH | NRW Holdings Limited | 1.76 | -3 | 4197124 | $ 830,590,706.40 |
| YAL | Yancoal Aust Ltd | 2.07 | -3 | 60393 | $ 2,825,740,395.18 |
| RDC | Redcape Hotel Group | 0.975 | -3 | 648014 | $ 554,956,170.98 |
| IMU | Imugene Limited | 0.33 | -3 | 6809854 | $ 1,696,796,101.12 |
| SGF | SG Fleet Group Ltd | 2.86 | -3 | 20434 | $ 874,345,327.80 |
| WEB | Webjet Limited | 4.97 | -3 | 2354551 | $ 1,932,950,076.90 |
| NWS | News Corp.. | 31.84 | -3 | 47742 | $ 1,146,169,223.50 |
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