{"id":2376,"date":"2023-11-28T05:12:27","date_gmt":"2023-11-28T05:12:27","guid":{"rendered":"https:\/\/economicherald.net\/?p=2376"},"modified":"2023-11-28T05:12:27","modified_gmt":"2023-11-28T05:12:27","slug":"asx-large-caps-gold-miners-lead-rally-origin-reports-downed-vessel-and-collins-foods-up-10pc","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2376","title":{"rendered":"ASX Large Caps: Gold miners lead rally, Origin reports downed vessel, and Collins Foods up 10pc"},"content":{"rendered":"

Aussie shares closed higher as Real Estate and Financial sectors led
\nGold miners also rallied, while Energy stocks slumped
\nCollins Foods up almost 10pc after half year update<\/p>\n

\u00a0<\/p>\n

The ASX closed +0.4% higher on Tuesday, bucking the modest selloff on Wall Street overnight.<\/p>\n

In New York, US stocks came off slightly after their fourth straight weekly win last week, but the major indexes still remained on track to record their best month of 2023.<\/p>\n

On the ASX today, gains in Real Estate, Financial and Healthcare stocks were offset by losses in Energy stocks.<\/p>\n

Energy was weighed down by three consecutive declines in oil prices as traders nervously await the next OPEC+ meeting on November 30.<\/p>\n

\u201cGiven the escalation of global geopolitical tensions and forecasted slower global economic growth predictions for 2024, we anticipate further output cuts going into the new year, adding potential stability in the price,\u201d said Zoran Kresovic from Aussie derivatives broker,\u00a0Eightcap.<\/p>\n

Gold miners meanwhile rallied, led by Northern Star (ASX:NST)<\/a> <\/strong>and Evolution Mining (ASX:EVN)<\/a><\/strong>, which rose by 3% each.<\/p>\n

The bullion price has been climbing north of US$2k an ounce, trading at US$2,015 an ounce now, on the back of the recent weakening in the US dollar.<\/p>\n

\u201cIf current trends of economic uncertainty and inflationary pressures continue, there could be upward pressure on gold prices,\u201d said Liam Hunt of Gold IRA Guide.<\/p>\n

The Aussie dollar has also extended its recent gains, trading now at US66.25c.<\/p>\n

Meanwhile, Australian retail sales came in weaker than expected in October, according to data release from the ABS today.<\/p>\n

Sales dropped 0.2% from a month earlier, in a sign that the RBA\u2019s aggressive interest-rate increases are beginning to weigh on households.<\/p>\n

\u201cIt looks like consumers hit the pause button on some discretionary spending in October, likely waiting to take advantage of discounts during Black Friday sales events in November,\u201d said Ben Dorber, ABS head of retail statistics.<\/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 CKF Collins Foods Ltd 11.01 9.01 678,316 $1,186,651,717 EMR Emerald Res NL 2.62 5.02 1,628,747 $1,550,712,417 MCY Mercury NZ Limited 5.80 4.88 15,278 $7,693,486,632 RRL Regis Resources 1.87 4.04 3,577,644 $1,355,833,160 CRN Coronado Global Res 1.69 4.00 1,977,473 $2,724,237,311 NWH NRW Holdings Limited 2.64 3.94 443,794 $1,147,428,937 CMW Cromwell Prop 0.42 3.75 1,896,137 $1,047,546,680 MEZ Meridian Energy 4.98 3.53 66,572 $6,090,381,447 NST Northern Star 12.10 3.15 3,811,704 $13,480,363,691 NSR National Storage 2.14 3.14 1,126,680 $2,817,538,011 LLC Lendlease Group 6.53 3.00 2,065,558 $4,372,268,446 TUA Tuas Limited 2.42 2.98 536,550 $1,092,655,814 GOZ Growthpoint Property 2.29 2.93 360,178 $1,673,551,027 PRU Perseus Mining Ltd 1.80 2.71 3,671,951 $2,410,604,743 <\/div>\n

WordPress Tables Plugin<\/a><\/p>\n

\u00a0<\/p>\n

Collins Foods (ASX:CKF)<\/a><\/strong> was the best large cap today, up nearly 10%, on the back of some strong H1 results.<\/p>\n

Revenue for the half was up 14.3% on pcp to $696.5 million, with strong growth across all business units. Underlying NPAT was up 28.7% vs the pcp to $31.2 million. The company declared fully franked interim dividend of 12.5 cps.<\/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 AD8 Audinate Group Ltd 14.58 -2.83 188,713 $1,246,632,540 MGH Maas Group Holdings 3.64 -2.41 68,510 $1,229,950,256 SDR Siteminder 4.57 -2.25 400,797 $1,284,558,715 JLG Johns Lyng Group 5.97 -2.13 293,826 $1,695,030,113 BAP Bapcor Limited 5.18 -1.80 531,077 $1,788,703,875 MIN Mineral Resources. 61.29 -1.70 538,662 $12,169,873,786 MND Monadelphous Group 14.25 -1.59 229,263 $1,403,312,997 ZIM Zimplats Holding Ltd 20.43 -1.30 6,549 $2,228,099,334 CAR CAR Group Limited 27.32 -1.26 946,279 $10,432,070,351 VUK Virgin Money Uk PLC 2.76 -1.25 1,687,264 $1,875,888,658 IGO IGO Limited 8.35 -1.24 2,610,332 $6,398,913,020 <\/div>\n

WordPress Tables Plugin<\/a><\/p>\n

Origin Energy (ASX:ORG)<\/a><\/strong> was down 1% after advising that a loaded LNG vessel docked at the Australia Pacific LNG facility on Curtis Island has lost power, and is currently unable to leave the terminal. Downstream operator of Australia Pacific LNG, ConocoPhillips, is working with all parties concerned, including the relevant maritime regulator and port authority, to resolve the situation.<\/p>\n

Only one LNG vessel is able to dock at the LNG facility at a time. As a result, no other cargoes can be loaded until the situation is resolved. Two cargoes have already been deferred out of the FY2024 delivery schedule.<\/p>\n

Origin expects more LNG cargos will be deferred, with Australia Pacific LNG ordinarily loading a LNG vessel for export approximately every three days.<\/p>\n

<\/span><\/p>\n

The post ASX Large Caps: Gold miners lead rally, Origin reports downed vessel, and Collins Foods up 10pc<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Aussie shares closed higher as Real Estate and Financial sectors led Gold miners also rallied, while Energy stocks slumped Collins Foods up almost 10pc after [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2377,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Gold miners lead rally, Origin reports downed vessel, and Collins Foods up 10pc - 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=2376\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Gold miners lead rally, Origin reports downed vessel, and Collins Foods up 10pc - 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