ASX Large Caps: Oil, gold stocks, AUD rally after US and allies carry out air strikes in Middle East

ASX pared losses after a surge in oil-related stocks
Energy stocks rose after US and UK conducted air strikes in Yemen
Gold stocks also edged higher as investors rotated to safe haven assets

The ASX pared early losses to close the day just -0.25% lower on Friday. For the week, the benchmark ASX200 index was flat.

The market was earlier reeling from the higher than expected US inflation data overnight, which showed that consumer prices in the US picked up again in December to 3.4% (from 3.1% in November).

On the ASX today, Utilities and and Consumer Staples sectors were the worst laggards, while oil and gold stocks overperformed.

Oil-related stocks rose after crude prices jumped by 2% overnight, spurred on by news that Iran had seized a tanker with Iraqi crude destined for Turkey.

The oil market climbed further today after reports the US and its allies have launched airstrikes on Houthi targets in Yemen, spurring traders to pile in on energy related stocks.

Gold stocks also edged higher as investors rotated to safe haven assets.

The Aussie dollar meanwhile has also surged rapidly on the news, up by 0.35% to US6712c.

Across the region, Asian stock markets were mixed after China’s consumer prices fell for a third straight month in December, pointing to a weak domestic demand. China reported an inflation rate of -0.3% in December, compared with -0.5% in November.

BIG CAP WINNERS

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume Market Cap BOE Boss Energy Ltd 5.15 6.1856 3,479,685 $1,981,963,864 SNZ Summerset Grp Hldgs 10.07 4.8958 583 $2,249,101,267 NEU Neuren Pharmaceut. 23.71 4.3115 303,802 $2,892,748,815 BPT Beach Energy Limited 1.5775 3.1046 18,912,527 $3,490,440,494 TLX Telix Pharmaceutical 10.45 2.8543 849,274 $3,289,063,099 BGL Bellevue Gold Ltd 1.565 2.623 2,154,554 $1,755,165,327 SFR Sandfire Resources 6.78 2.5719 795,496 $3,020,719,790 PSI Psc Insurance Ltd 4.62 2.439 202,227 $1,644,452,576 MPL Medibank Private Ltd 3.81 2.4194 3,258,547 $10,244,892,053 NIC Nickel Industries 0.66 2.3256 3,926,847 $2,764,347,373 PDN Paladin Energy Ltd 1.2125 2.3207 30,252,593 $3,535,300,007 SLX Silex Systems 5.01 2.2449 777,727 $1,156,135,768 SUL Super Ret Rep Ltd 15.69 2.215 277,329 $3,466,436,775 JLG Johns Lyng Group 6.91 2.0679 521,975 $1,881,205,552 NWL Netwealth Group 16.28 2.005 152,957 $3,894,660,674 STO Santos Ltd 7.58 1.8817 3,738,273 $24,163,430,830

WordPress Table Plugin

Oil stocks Beach Energy (ASX:BPT), Santos (ASX:STO) and Woodside Energy (ASX:WDS) all gained after US air strikes in Yemen,

Gold stocks Northern Star (ASX:NST), Silver Lake (ASX:SLR) and Sandfire Resources (ASX:SFR) also lifted as investors sought the safe haven of gold.

BIG CAP LOSERS

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume Market Cap HLS Healius 1.475 -6.6456 2600159 $1,147,185,928 RED Red 5 Limited 0.2875 -4.1667 2874188 $1,039,140,165 SGR The Star Ent Grp 0.525 -3.6697 13850966 $1,563,431,078 AWC Alumina Limited 1.09 -3.5398 10813667 $3,278,900,001 AMP AMP Limited 0.95 -3.0612 5476460 $2,686,259,286 MGH Maas Group Holdings 3.74 -2.8571 225121 $1,262,508,559 TUA Tuas Limited 3.1 -2.8213 148956 $1,487,748,279 OCL Objective Corp 12.27 -2.4642 12459 $1,197,726,905 APA APA Group 8.33 -2.459 775360 $10,956,460,799 NWH NRW Holdings Limited 2.785 -2.2807 376401 $1,291,187,142 AGL AGL Energy Limited. 9.045 -2.2162 2465572 $6,222,911,905 IFL Insignia Financial 2.33 -2.1008 934314 $1,586,571,672 ARB ARB Corporation. 33.92 -2.0502 57612 $2,847,293,872

WordPress Table Plugin

The post ASX Large Caps: Oil, gold stocks, AUD rally after US and allies carry out air strikes in Middle East appeared first on Stockhead.