The S&P ASX 200 was up 5% in November with small and mid caps rising even higher
\nThe healthcare sector had the biggest turnaround, rising close to 12% in November<\/p>\n
After a rough few months for the Aussie bourse, there were signs the storm was starting to ease in November. The benchmark S&P ASX 200 lifted 5% in November, while small and mids caps rose even higher, with S&P ASX small ordinaries up 7% and the S&P ASX MidCap 50 up 5.35%.<\/p>\n
The S&P ASX Mid-Cap 50 and he S&P ASX Small Ordinaries\u00a0 are now back in the green for 2023.\u00a0 However, the S&P ASX Emerging Companies index is still down more than 6% for the year, according to S&P Dow Jones Indices<\/a>.<\/p>\n \u00a0<\/p>\n Source: S&P Dow Jones Indices<\/p>\n \u00a0<\/p>\n After a rough 2023, it seemed the Aussie bourse and global markets finally caught a break in November.<\/p>\n There was still continued war in Ukraine and conflict between Israel and Hamas in November but there were also signs macro uncertainties were abating leading to the S&P ASX 200 VIX falling to 9.67, its lowest level since June 2018.<\/p>\n Bloomberg reported<\/a> the S&P 500 had one of its biggest November rallies on record, while November saw the MSCI All Country World Index rise by 9.1%, marking its biggest rise since the same month two years ago and the third largest monthly upsurge in the past decade.<\/p>\n The Australian equity rally was helped along in November by latest CPI figures showing that the monthly inflation rate fell to 4.9% from 5.6% in October, beating expectations.<\/p>\n With 13 hikes in 18 months, the official cash rate is now at 4.35%, the highest it has been in 12 years as the central bank moved to bring down sticky inflation to its target 2-3%.<\/p>\n But in a sign inflation may finally be falling, there is\u00a0 speculation (optimism too) the central bank\u2019s\u00a0rate-hike cycle has peaked.<\/p>\n The US Federal Reserve is also taking a more dovish tone on the back of some promising data.\u00a0 The US core personal consumption expenditures (PCE) price index, a key measure used by the Fed to evaluate underlying inflation, has fallen,\u00a0 suggesting a reduction in price pressures.<\/p>\n Additionally, evidence from both the labor market and consumer spending indicates a gradual slowdown in growth, which could further influence the Fed\u2019s decision to keep hiking rates at the cost of economic growth.<\/p>\n Red Leaf Securities CEO John Athanasiou told Stockhead<\/em> now that inflation is starting to cool off, the S&P ASX small ordinaries index has outperformed other sectors.<\/p>\n \u201cWe anticipate that this trend will continue as inflation eases in 2024,\u201d he says.<\/p>\n \u201cBest options are in the small cap tech sector, they have a lot of catching up to do compared to their larger peers.<\/p>\n \u201cThe information technology sector is up 22% YTD but that\u2019s the bigger end of town.\u201d<\/p>\n \u00a0<\/p>\n The S&P\/ASX 200 health care and real estate sectors had the sharpest turnarounds, both rising more than 10% in November.<\/p>\n As oil prices fell, energy was the worst performer, while defensive sectors including Utilities and Consumer Staples were also in the red.<\/p>\n Source: S&P Dow Jones Indices<\/p>\n \u00a0<\/p>\n All equity factor indices were in positive territory in November, with the S&P ASX 200 equal weight rising the most in line with the small cap outperformance.<\/p>\n While still in positive territory the thematically-targeted S&P ASX infrastructure and S&P ASX 200 Resources indices also trailed the otherwise-soaring equity markets with gains under 2%.<\/p>\n \u00a0<\/p>\n Source: S&P Dow Jones Indices<\/p>\n \u00a0<\/p>\n Fixed income indices in Australia were also back in positive territory in November after being down in September and October. Government bonds were just ahead of corporates.<\/p>\n Source: S&P Dow Jones Indices<\/p>\n \u00a0<\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n WordPress Tables Plugin<\/a><\/p>\n Copper and gold hunter Cooper Metals (ASX:CPM)<\/strong><\/a> was up after confirming a high-grade copper discovery at its Brumby Ridge copper-gold prospect at the Mt Isa East project in northwest Queensland.<\/p>\n Results of drilling included 71m at 2.8% copper including 24m at 5.4% copper. <\/p>\n \u201cThis new result builds on the initial RC drill hole 23MERC024, which intercepted 50m at 1.32% Cu and 0.05g\/t Au from 80m including 2m @ 6.1% Cu & 0.23g\/t Au,\u201d CMP says.<\/p>\n Sunshine Metals (ASX:SHN)<\/strong><\/a>\u00a0 rose with as Rob Badman best described<\/a> \u201cthe microcap gold\u2019n\u2019copper-chasing Queenslander basking in recent warmth from a thick, high-grade gold hit out at its Liontown prospect at the Ravenswood West project, about 130km south of Townsville in northern Queensland\u201d.<\/p>\n SHN intersected 17m at 22.14g\/t gold with company believing it may have struck paydirt in a gold and copper rich feeder zone to the 2.3Mt zinc-gold-copper-lead-silver VMS resource at the Liontown deposit.<\/p>\n In the rebounding health sector Imugene (ASX:IMU)<\/a><\/strong> rocketed higher after announcing\u00a0 its novel cancer-killing virus, CF33-hNIS (VAXINIA),<\/strong> was granted fast track designation by the US FDA.<\/p>\n The designation was granted based on the promising data from IMU\u2019s Phase 1 MAST trial\u00a0where low doses of VAXINIA were administered to patients suffering with bile duct cancer.<\/p>\n READ Check Up: Imugene\u2019s oncolytic virus VAXINIA granted FDA\u2019s Fast Track, but how effective is this novel therapy?<\/strong><\/a><\/p>\n And a 2023 IPO Gold Hydrogen (ASX:GHY)<\/strong><\/a>\u00a0 was also up in November. GHY\u00a0holds the Ramsay project in South Australia\u2019s Gawler craton and is already seeing some early success.<\/p>\n As Stockhead\u2019s<\/em> Emma Davies reported<\/a>, its first well, Ramsay-1, was drilled to a depth of 1,005m on time and on budget.<\/p>\n Significant concentrations of natural hydrogen and helium confirmed historical measurements and demonstrated that an active system is present in the Ramsay project area.<\/p>\n \u00a0<\/p>\n Scroll or swipe to reveal table. Click headings to sort.<\/em><\/p>\n WordPress Tables Plugin<\/a><\/p>\n \u00a0<\/p>\n Tempus Resources (ASX:TMR)<\/strong><\/a> fell after announcing it will not acquire Aurora Lithium, a private company which owns the Cormorant and White Rabbit projects in central Manitoba, Canada. The company terminated a heads of agreement after completion of due diligence.<\/p>\n TMR also announced in November plans to undertake a an underwritten non-renounceable entitlement offer at $0.005\/share to raise ~$1.714 million to evaluate potential new acquisitions and realise value from the Blackdome-Elizabeth assets.<\/p>\n <\/span><\/p>\n The post ASX November winners: The best 50 stocks as cooling inflation gives markets a little reprieve<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Easing inflation gives cause for optimism<\/h2>\n
Health leads winning sectors, all equity factors up<\/h2>\n
Fixed income up in November<\/h2>\n
Here are the 50 best performing ASX stocks for November:<\/h2>\n
Here are the 50 worst performing ASX stocks for November:<\/h2>\n