{"id":2931,"date":"2023-12-08T05:17:39","date_gmt":"2023-12-08T05:17:39","guid":{"rendered":"https:\/\/economicherald.net\/?p=2931"},"modified":"2023-12-08T05:17:39","modified_gmt":"2023-12-08T05:17:39","slug":"asx-large-caps-lithium-stocks-lead-energy-also-higher-on-potential-woodside-santos-merger","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2931","title":{"rendered":"ASX Large Caps: Lithium stocks lead, Energy also higher on potential Woodside-Santos merger"},"content":{"rendered":"

ASX bounced back in the afternoon to close higher on Friday
\nLithium stocks led the winners
\nWoodside and Santos confirm talks of a potential merger<\/p>\n

\u00a0<\/p>\n

Local shares bounced back from negative territory this morning to close 0.25% higher. For the week, the benchmark ASX 200 index was up 1.6%.<\/p>\n

Overnight, weak sentiment featured across major European, UK and US equities markets, but the tech heavy Nasdaq rallied by over 1% as Google released its ChatGPT\u2019s rival, Gemini.<\/p>\n

\u201cArtificial intelligence has potential to drive productivity gains sharply higher in 2024 and beyond,\u201d said\u00a0Yung-Yu Ma\u00a0at BMO Wealth Management.<\/p>\n

Traders meanwhile watched the EU-China summit in Beijing closely, with the EU warning China of \u2018unfair competition\u2019 and China warning of confrontation.<\/p>\n

On the ASX today, Energy and Mining stocks led the winners, while Utilities and Info Tech were the laggards.<\/p>\n

Lithium miners had a good day again, with Pilbara Minerals (ASX:PLS)<\/a><\/strong>, Allkem (ASX:AKE)<\/a><\/strong> and Mineral Resources (ASX:MIN)<\/a> <\/strong>up around 4% on the back of a recent rally in Chinese lithium mining stocks.<\/p>\n

Iron ore miners were also in the winners\u2019 circle after Commonwealth Bank Research said China\u2019s iron ore reserves are at the lowest level for this time of year since 2016.<\/p>\n

Across the region, Japan\u2019s stock market fell -1.5% after a sudden surge in the Yen on rumours that the Bank of Japan (BoJ) is about to exit its ultra-loose monetary policy that has kept Japanese rates at almost 0% for years.<\/p>\n

And looking ahead to tonight in the US, the all-crucial November employment data will be closely watched ahead of next week\u2019s Fed Reserve monetary policy meeting.<\/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 STO Santos Ltd 7.25 6.08 31,527,452 $22,182,289,324 SHL Sonic Healthcare 31.16 2.94 1,047,310 $14,397,647,319 MIN Mineral Resources. 62.71 3.26 792,279 $11,853,671,772 PLS Pilbara Min Ltd 3.75 4.61 34,593,772 $10,773,895,243 MEZ Meridian Energy 4.93 3.14 17,530 $6,051,836,440 AKE Allkem Limited 9.16 4.33 2,995,070 $5,613,240,953 LTR Liontown Resources 1.38 3.77 11,843,370 $3,209,129,800 AMP AMP Limited 0.95 2.42 8,502,331 $2,558,229,893 PNI Pinnacle Investment 9.71 2.43 190,385 $1,923,763,555 LIC Lifestyle Communit. 17.37 2.48 214,076 $1,772,039,970 360 Life360 Inc. 7.13 3.86 496,120 $1,390,304,373 BOE Boss Energy Ltd 3.92 2.62 3,790,484 $1,348,206,214 HGH Heartland Group 1.54 5.66 308 $1,042,499,131 <\/div>\n

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

\u00a0<\/p>\n

Santos (ASX:STO)<\/a><\/strong> rose 5% after confirming it is in discussions regarding a potential merger with Woodside Energy (ASX:WDS).<\/a><\/strong><\/p>\n

Now read: A Woodside, Santos marriage is in the works \u2013 what will a merged company look like?<\/a><\/strong><\/em><\/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 EMR Emerald Res NL 2.55 -5.90 1,117,312 $1,688,506,768 CTT Cettire 2.88 -4.95 1,531,717 $1,155,151,807 APM APM Human Services 1.31 -3.69 943,267 $1,242,781,537 CNI Centuria Capital 1.59 -3.64 919,237 $1,328,370,003 AD8 Audinate Group Ltd 14.29 -3.51 102,677 $1,230,841,861 TLX Telix Pharmaceutical 9.32 -3.12 788,972 $3,111,322,949 SKC Skycity Ent Grp Ltd 1.68 -2.90 495,390 $1,311,353,986 SGR The Star Ent Grp 0.52 -2.80 20,041,843 $1,534,744,269 MMS McMillan Shakespeare 16.52 -2.77 200,610 $1,183,234,978 SIQ Smartgrp Corporation 8.26 -2.54 303,014 $1,125,126,586 TNE Technology One 14.80 -2.44 575,297 $4,940,509,046 WTC Wisetech Global Ltd 67.26 -2.41 265,041 $22,972,089,787 NXT Nextdc Limited 13.17 -2.15 616,592 $6,927,966,961 <\/div>\n

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

\u00a0<\/p>\n

Woodside Energy (ASX:WDS)<\/a><\/strong> was down -0.5% after confirming that it\u2019s in discussions regarding a potential merger with Santos (ASX:STO)<\/a><\/strong>.<\/p>\n

\u201cDiscussions remain confidential and incomplete, and there is no certainty that the discussions will lead to a transaction,\u201d said the release from WDS.<\/p>\n

Ramsay Healthcare (ASX:RHC)<\/a><\/strong> was down modestly after announcing that the Australian Foreign Investment Review Board has no objection to Columbia acquiring Ramsay\u2019s 50:50 joint venture in Asia. Completion of the transaction is now expected to occur on 28th December.<\/p>\n

Washington H Soul Pattinson (ASX:SOL)<\/a><\/strong>, which has lobbed a $3 billion takeover bid for fund manager Perpetual (ASX:PPT) yesterday, dropped -0.5% after reporting that in Q1, its portfolio reduced by 0.4%.<\/p>\n

But SOL says the company showed strong resilience to have dropped only -0.4% in the face of difficult macro conditions. SOL\u2019s cash balance now sits at $694m (at 31 October), having continued its strategy of deploying cash into private investments.<\/p>\n

NZ-based Skycity Entertainment (ASX:SKC)<\/a><\/strong> fell 2% after providing a trading update. The company says it expects FY24 EBITDA of between NZ$290 million to NZ$310 million, versus the NZ$310 million guidance given previously.<\/p>\n

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

The post ASX Large Caps: Lithium stocks lead, Energy also higher on potential Woodside-Santos merger<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX bounced back in the afternoon to close higher on Friday Lithium stocks led the winners Woodside and Santos confirm talks of a potential merger [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2932,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Lithium stocks lead, Energy also higher on potential Woodside-Santos merger - 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=2931\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Lithium stocks lead, Energy also higher on potential Woodside-Santos merger - 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