{"id":2723,"date":"2023-12-05T05:07:44","date_gmt":"2023-12-05T05:07:44","guid":{"rendered":"https:\/\/economicherald.net\/?p=2723"},"modified":"2023-12-05T05:07:44","modified_gmt":"2023-12-05T05:07:44","slug":"asx-large-caps-origin-shareholders-block-takeover-bid-and-rba-pauses-as-asx200-takes-a-1pc-hit","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2723","title":{"rendered":"ASX Large Caps: Origin shareholders block takeover bid and RBA pauses, as ASX200 takes a 1pc hit"},"content":{"rendered":"

Aussie shares dropped on Wednesday as RBA paused its rate hike
\nLithium stocks were mainly down, and Mesoblast the worst petformer
\nOrigin shareholders reject takeover bid, shares rise<\/p>\n

\u00a0<\/p>\n

The ASX 200 dropped by-0.86% on Tuesday, tracking losses in New York overnight.<\/p>\n

The Aussie dollar along with local bond yields also dropped, following the RBA\u2019s decision<\/strong> to leave the cash rate target unchanged at 4.35%.<\/p>\n

In a media release statement, RBA governor Michele Bullock<\/strong> said: \u201cHigher interest rates are working to establish a more sustainable balance between aggregate supply and demand in the economy.\u201d<\/p>\n

\u201cThe impact of the more recent rate rises, including last month\u2019s, will continue to flow through the economy. Returning inflation to target within a reasonable timeframe remains the Board\u2019s priority,\u201d said Bullock.<\/p>\n

Moomoo\u2019s market strategist, Jessica Amir<\/strong>, says that although the RBA has paused today, it will hike again in February (with a 27% chance of a hike).<\/p>\n

This contrasts with the US market where traders are predicting that the Fed is done with hikes.<\/p>\n

\u201cNow bets are skyrocketing [in the US] for the Feds to move to a cutting cycle,\u201d said Amir.<\/p>\n

To the ASX, all sectors except for Utilities closed in the red. Energy<\/strong> and Mining stocks<\/strong> were the main laggards.<\/p>\n

Lithium stocks like Pilbara Minerals (ASX:PLS)<\/a><\/strong> and IGO Ltd (ASX:IGO)<\/a><\/strong> took the biggest hits, down by 6% each.<\/p>\n

In other markets, gold<\/strong> retreated from its all-time highs to trade at US$2,038 an ounce, while Bitcoin<\/strong> also slipped back below US$42k to US$41,803.<\/p>\n

Across the region, Asian stocks also slid after an extended selloff in China stocks. Traders in Asia are increasingly struggling to find reasons to push the buy button following the big November rally.<\/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 ZIM Zimplats Holding Ltd 21.87 4.24 10,377 $2,258,237,876 SMR Stanmore Resources 3.85 2.53 2,350,780 $3,380,218,628 ORG Origin Energy 8.06 2.48 23,419,531 $13,540,796,694 CRN Coronado Global Res 1.74 2.06 1,279,183 $2,849,971,341 COH Cochlear Limited 278.67 2.00 96,586 $17,895,528,880 RMD ResMed Inc. 24.78 2.00 2,286,758 $13,755,239,967 DDR Dicker Data Limited 11.85 1.80 156,216 $2,098,569,570 IFT Infratil Limited 9.24 1.76 14,292 $7,553,561,082 SDR Siteminder 4.99 1.73 471,291 $1,347,823,919 OCL Objective Corp 12.00 1.61 28,743 $1,124,374,782 IAG Insurance Australia 5.92 1.54 7,918,067 $14,135,255,191 RDX Redox Limited 2.38 1.50 83,327 $1,228,690,542 CKF Collins Foods Ltd 11.28 1.35 287,032 $1,307,666,694 EBO Ebos Group Ltd 35.16 1.27 16,162 $6,659,720,313 IRE IRESS Limited 7.80 1.17 2,152,995 $1,440,146,845 DTL Data#3 Limited 7.94 1.15 315,002 $1,214,426,902 SHL Sonic Healthcare 29.24 1.14 562,934 $13,736,693,785 <\/div>\n

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

Origin Energy (ASX:ORG)<\/a> <\/strong>gained 2.5% after its biggest shareholder, Australian Super, and other shareholders rejected Brookfield and EIG\u2019s $9.39\/share takeover offer in yesterday\u2019s Scheme Meeting.<\/p>\n

Only 68.92% of the votes cast by shareholders were in favour of the takeover, falling short of the 75% required to enforce the resolution.<\/p>\n

\u201cWhile the scheme will not proceed, it was supported by many Origin shareholders. Importantly, this process has made clear the confidence all shareholders have in Origin\u2019s business, assets and people, and its strategic positioning for the energy transition,\u201d said Origin Chairman, Scott Perkins.<\/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 CEN Contact Energy Ltd 7.18 -10.25 18,057 $2,036,369,872 CTT Cettire 3.07 -8.51 2,376,132 $1,277,148,037 LTR Liontown Resources 1.25 -8.09 18,722,621 $3,285,526,258 CMM Capricorn Metals 4.47 -8.02 2,609,627 $1,827,156,731 PLS Pilbara Min Ltd 3.28 -7.08 49,752,832 $10,623,403,190 MMS McMillan Shakespeare 16.89 -6.74 181,568 $1,261,235,165 EMR Emerald Res NL 2.70 -6.25 1,551,126 $1,794,427,857 LFG Liberty Fin Group 3.85 -6.10 6,307 $1,245,595,879 IGO IGO Limited 7.56 -5.85 4,481,363 $6,080,860,538 RMS Ramelius Resources 1.66 -5.43 3,687,423 $1,989,363,213 MCY Mercury NZ Limited 5.70 -5.00 6,443 $8,347,363,434 SLR Silver Lake Resource 1.09 -5.00 3,980,280 $1,074,955,983 PRU Perseus Mining Ltd 1.94 -4.68 5,359,813 $2,788,334,831 IFL Insignia Financial 2.07 -4.61 2,380,436 $1,446,580,054 RED Red 5 Limited 0.36 -4.61 12,116,319 $1,315,631,915 MIN Mineral Resources. 57.35 -4.29 908,699 $11,695,570,766 NST Northern Star 12.36 -4.19 2,418,019 $14,824,952,396 <\/div>\n

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

Mesoblast (ASX:MSB)<\/a><\/strong> was the worst moving stock today, down over 20% after announcing a dilutive cap raise of approximately $55 million at an issue price of $0.30 per new share.<\/p>\n

Capricorn Metals (ASX:CMM)<\/a><\/strong> dropped 7.5% after executive chairman Mark Clark sold 5 million shares worth around $23m in the open market.<\/p>\n

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

The post ASX Large Caps: Origin shareholders block takeover bid and RBA pauses, as ASX200 takes a 1pc hit<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Aussie shares dropped on Wednesday as RBA paused its rate hike Lithium stocks were mainly down, and Mesoblast the worst petformer Origin shareholders reject takeover [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2724,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Origin shareholders block takeover bid and RBA pauses, as ASX200 takes a 1pc hit - 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=2723\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Origin shareholders block takeover bid and RBA pauses, as ASX200 takes a 1pc hit - 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