{"id":1813,"date":"2023-11-20T05:13:46","date_gmt":"2023-11-20T05:13:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=1813"},"modified":"2023-11-20T05:13:46","modified_gmt":"2023-11-20T05:13:46","slug":"asx-large-caps-energy-lithium-stocks-keep-asx-afloat-tata-called-in-to-design-new-asx-clearing-system","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1813","title":{"rendered":"ASX Large Caps: Energy, lithium stocks keep ASX afloat; TATA called in to design new ASX clearing system"},"content":{"rendered":"

ASX closed flat on Monday, with energy and lithium stocks higher
\nOptus CEO resigned
\nASX announced the hiring of TATA Consultants to design new clearing system<\/p>\n

\u00a0<\/p>\n

The ASX closed flattish on Monday as the Energy and Financial sectors offset losses in other sectors.<\/p>\n

Energy stocks<\/strong> were mostly higher today as crude prices rebounded by 4% on Friday, amid bets that OPEC<\/strong> will extend output cuts when the cartel meets next on November 26.<\/p>\n

Hopes for a \u201csoft landing\u201d has also driven market sentiment over the past few days, and in New York, traders are growingly convinced the Fed Reserve could ease back on interest rate hikes without reigniting inflation.<\/p>\n

But geopolitical risks still remain a big threat to financial markets. Over the weekend, Russia was reported to have attacked Ukraine\u2019s capital Kyiv, while hostage deals are currently being negotiated in Gaza.<\/p>\n

The APEC summit<\/strong> in San Francisco meanwhile has concluded, with PM Albanese declaring that he had witnessed a \u2018warm\u2019 and \u2018very positive\u2019 discussion between the presidents of China and the United States.<\/p>\n

On the ASX today, along with energy, lithium stocks also rallied. Online fashion retailer Cettire (ASX:CTT)<\/a><\/strong> was one of the best performing large caps, up 5% on no news.<\/p>\n

Optus\u2019s CEO, Kelly Bayer Rosmarin<\/strong>, meanwhile has resigned effective immediately, days after Australia\u2019s worst network outage, and months after a data breach. Until a new CEO is appointed, current CFO Michael Venter will take on the role as interim chief executive.<\/p>\n

Elsewhere in the region, stocks mainly climbed in Asia as the US dollar slipped against all its Group-of-10 peers.<\/p>\n

\u00a0<\/p>\n

BIG CAP WINNERS<\/h2>\n

Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n

<\/div>\n
Code Name Price % Change Volume Market Cap CTT Cettire 3.14 5.02 771,031 $1,139,902,278 KAR Karoon Energy Ltd 2.13 3.90 3,244,885 $1,161,366,018 PDN Paladin Energy Ltd 1.00 3.35 11,934,819 $2,893,874,267 CRN Coronado Global Res 1.61 3.22 1,145,653 $2,606,885,550 AKE Allkem Limited 8.95 2.99 1,487,588 $5,555,702,036 A2M The A2 Milk Company 4.12 2.74 2,166,564 $2,898,968,580 ALQ ALS Ltd 12.47 2.72 679,612 $5,877,795,684 TUA Tuas Limited 2.28 2.70 40,780 $1,032,211,025 DMP Domino Pizza Enterpr 53.61 2.66 291,636 $4,689,800,810 GMD Genesis Minerals 1.59 2.59 1,478,840 $1,663,374,051 SMR Stanmore Resources 3.90 2.50 878,007 $3,425,288,209 SDF Steadfast Group Ltd 5.36 2.49 5,744,303 $5,431,678,711 HLI Helia Group Limited 3.94 2.47 571,552 $1,180,836,833 SQ2 Block 88.97 2.46 138,000 $2,933,283,853 <\/div>\n

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ASX Ltd (ASX:ASX)<\/a><\/strong> was up 1% after the market operator said it has hired Indian group TATA Consultancy to design the replacement for its ageing CHESS system. The ASX had previously said that CHESS would have to be used until at least 2032.<\/p>\n

Coal stock New Hope (ASX:NHC)<\/a><\/strong> was up 1% after releasing its quarterly activities report. NHC said its October quarter saleable coal production was 2Mt, 1% more than for the July quarter. The company sold 14% fewer tonnes in the quarter, tallying 1.819Mt, at an $221.45\/t average realised price.<\/p>\n

Property developer Stockland (ASX:SGP)<\/a><\/strong> was flat after announcing the departure of its commercial property CEO, Louise Mason, effective late December. In addition, SGP has appointed recent AMP Capital real estate head Kylie O\u2019Connor as investment management CEO.<\/p>\n

\u00a0<\/p>\n

BIG CAP LOSERS<\/h2>\n

Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n

<\/div>\n
Code Name Price % Change Volume Market Cap AX1 Accent Group Ltd 1.78 -8.01 2,692,668 $1,089,507,934 MCY Mercury NZ Limited 5.45 -5.71 6,167 $8,041,293,441 TLX Telix Pharmaceutical 9.06 -3.51 770,514 $3,036,701,060 ABB Aussie Broadband 3.83 -3.28 552,109 $1,081,128,221 OCL Objective Corp 10.96 -3.18 8,880 $1,077,724,177 SGR The Star Ent Grp 0.54 -3.13 9,220,771 $1,606,461,291 BFL Bsp Financial Group 5.15 -2.83 7,471 $2,476,265,889 MEZ Meridian Energy 4.59 -2.75 15,527 $5,976,424,206 RMS Ramelius Resources 1.53 -2.70 1,694,871 $1,789,434,077 ASK Abacus Storage King 1.10 -2.67 231,754 $1,478,365,832 ALX Atlas Arteria 5.86 -2.66 2,314,284 $8,734,018,916 NST Northern Star 11.46 -2.59 1,492,952 $13,514,840,324 NUF Nufarm Limited 4.63 -2.43 579,707 $1,807,945,954 360 Life360 Inc. 7.96 -2.33 343,623 $1,651,746,449 <\/div>\n

WordPress Tables Plugin<\/a>
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The post ASX Large Caps: Energy, lithium stocks keep ASX afloat; TATA called in to design new ASX clearing system<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX closed flat on Monday, with energy and lithium stocks higher Optus CEO resigned ASX announced the hiring of TATA Consultants to design new clearing [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Energy, lithium stocks keep ASX afloat; TATA called in to design new ASX clearing system - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=1813\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Energy, lithium stocks keep ASX afloat; 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