ASX gains modestly, led by healthcare and tech stocks
Bitcoin gains past US$46k
Boral surges after huge half year results
The ASX 200 gained modestly on Friday, up by around 0.10%. For the week, the index was down around half a percent.
Overnight, US stock indices gained modestly following strong earnings and guidance from Arm Holdings, which surged by almost 50%.
Traders also parsed through comments from Federal Reserve Bank of Richmond President, Thomas Barkin, who became the latest Fed member to say that policymakers should bide their time in cutting rates.
The US dollar jumped against major currencies after his comments. At this time of writing, the Aussie dollar is changing hands at US$0.6492.
Oil prices also spiked overnight by around 3%, amid doubts over a potential cease-fire in the Israel-Hamas war.
Bitcoin meanwhile has topped US$46k in Asia hours, trading at US$46,035 at this time of writing, reaching its highest point since the ETF approval in early January.
On the ASX today, Healthcare and Tech stocks led, while Energy was weighed down by uranium stocks.
Among the biggest movers today was Cochlear (ASX:COH), which surged +4% and hit record highs following its earnings guidance upgrade yesterday.
Meanwhile across the region, Chinese stocks in Hong Kong fell for the third straight today, ahead of the upcoming Chinese New Year holidays.
BIG CAP WINNERS
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Code Name Price % Change Volume Market Cap LTR Liontown Resources 1.13 11.39 16,737,647 $2,447,438,032 BLD Boral Limited 5.84 7.95 6,453,290 $5,967,708,347 AD8 Audinate Group Ltd 15.99 5.27 234,973 $1,262,423,219 REA REA Group 185.38 5.07 131,365 $23,309,440,595 MGH Maas Group Holdings 4.25 4.42 604,790 $1,334,651,905 LTM Arcadium Lithium PLC 7.09 4.26 1,613,352 $2,873,609,912 COH Cochlear Limited 317.70 4.25 98,499 $19,958,670,206 360 Life360 Inc. 7.98 3.77 532,622 $1,572,354,998 SVW Seven Group Holdings 37.00 3.61 449,810 $12,983,641,312 CCP Credit Corp Group 18.39 3.31 259,838 $1,211,590,037 LNW Light & Wonder Inc. 134.22 3.09 34,152 $2,023,120,121 CDA Codan Limited 8.41 3.06 160,869 $1,479,539,482 SDR Siteminder 5.43 3.04 268,609 $1,460,138,379 CHC Charter Hall Group 12.25 2.85 764,173 $5,633,396,640 IFL Insignia Financial 2.29 2.69 724,514 $1,486,577,659 RDX Redox Limited 2.32 2.65 38,416 $1,186,684,027 CSR CSR Limited 6.75 2.58 1,257,103 $3,141,184,002 CMW Cromwell Prop 0.42 2.47 868,004 $1,060,641,013
Liontown Resources (ASX:LTR) was the best performing large cap today, up 11% on no specific news.
Boral (ASX:BLD) surged today after reporting strong H1 FY24 revenue of $1.839 billion, up 9.4% on pcp. Underlying bottom line NPAT was $138.6 million, up 143.9% on pcp. The company guided the market to an underlying EBIT guidance $330-350 million (previously $300-330 million) for the full year.
Unibail Rodamco Westfield (ASX:URW) reported strong operating performance for the full year FY23, with tenant sales up +6.4%, above core inflation, and footfall up +4.9% on pcp. The company reported €1.63b in full year net loss from a €178k net profit a year ago. The company said it was a challenging investment environment, but it still managed to secure 11 transactions totalling €1 billion. Total disposals since 2021 have contributed €5.1 billion to its net debt reduction, and the company said it remains committed to further deleveraging. URW proposed to pay a €2.50 cash distribution, pending shareholder approval at the AGM in April.
BIG CAP LOSERS
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Code Name Price % Change Volume Market Cap BOE Boss Energy Ltd 5.27 -12.10 8,768,160 $2,447,827,535 SLX Silex Systems 5.15 -10.12 919,868 $1,351,971,010 DYL Deep Yellow Limited 1.51 -9.85 12,703,475 $1,280,893,159 PDN Paladin Energy Ltd 1.32 -7.37 25,064,849 $4,253,119,384 NIC Nickel Industries 0.65 -4.04 3,611,641 $2,914,350,718 SLR Silver Lake Resource 1.08 -3.57 3,425,257 $1,046,913,653 TUA Tuas Limited 3.13 -3.10 77,547 $1,506,403,430 RED Red 5 Limited 0.32 -3.03 11,353,337 $1,143,054,181 GNC GrainCorp Limited 8.29 -2.93 403,636 $1,915,837,954 BSL BlueScope Steel Ltd 21.93 -2.84 1,301,250 $10,064,072,442 GMD Genesis Minerals 1.57 -2.64 1,406,256 $1,770,778,725 MEZ Meridian Energy 5.21 -2.43 28,086 $6,760,838,198 HSN Hansen Technologies 5.15 -2.28 107,700 $1,070,881,855 TCL Transurban Group 12.90 -2.24 4,121,079 $40,735,428,513 AMC Amcor PLC 14.08 -2.09 3,278,405 $9,157,016,056 AGL AGL Energy Limited. 8.63 -1.99 4,059,157 $5,920,175,650 WHC Whitehaven Coal 7.49 -1.90 3,831,748 $6,383,263,982 JDO Judo Cap Holdings 1.17 -1.88 468,239 $1,325,614,495 CKF Collins Foods Ltd 11.26 -1.83 141,562 $1,348,651,604
Boss Energy (ASX:BOE) was down -12% today on the broader weakness of uranium stocks.
Genesis Minerals (ASX:GMD) has completed the purchase of gold deposits in the Cardinia Gold Project in WA from Kin Mining (ASX:KIN), as announced on 14 December.
The post ASX Large Caps: Liontown, Boral jump, Cochlear hits record high, but uranium stocks tumble appeared first on Stockhead.
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