{"id":4090,"date":"2024-01-09T05:07:28","date_gmt":"2024-01-09T05:07:28","guid":{"rendered":"https:\/\/economicherald.net\/?p=4090"},"modified":"2024-01-09T05:07:28","modified_gmt":"2024-01-09T05:07:28","slug":"asx-large-caps-shares-rebound-1pc-alcoa-vehicle-alumina-jumps-7pc-on-plans-to-curtail-kwinana-refinery","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4090","title":{"rendered":"ASX Large Caps: Shares rebound 1pc; Alcoa vehicle Alumina jumps 7pc on plans to curtail Kwinana refinery"},"content":{"rendered":"

ASX200 up almost 1pc, wiping out some of the losses this year
\nEnergy sector was the only down after a selloff in crude overnight
\nAlumina\u00a0 jumps after an announcement related to Kwinana refinery<\/p>\n

\u00a0<\/p>\n

The Aussie stock market surged strongly on Tuesday, rising by almost 1% and partially wiping out losses incurred over the past few days.<\/p>\n

The local market was bolstered by the strong session on Wall Street overnight where tech stocks led a broad brushed rally.<\/p>\n

The only ASX sector in the red today was Energy,<\/strong> with traders dumping oil stocks after a 4% tumble in crude prices overnight.<\/p>\n

Tech<\/strong>, Healthcare<\/strong> and Industrials<\/strong> stocks paced the ASX, ahead of the crucial CPI data from the ABS tomorrow.<\/p>\n

Best mover today was Alumina (ASX:AWC)<\/a><\/strong> \u2013 the Australian vehicle that carries NYSE-listed Alcoa \u2013 up 7% after confirming plans to curtail its Kwinana refinery in Australia (more below).<\/p>\n

Elsewhere across the region, Asian stocks were mainly higher on the back of the positive tone from Wall Street.<\/p>\n

Concerns over China\u2019s growth prospects and uncertainties are however keeping investors cautious, ahead of key inflation readings later this week,<\/p>\n

Looking over to the US tonight, November international trade statistics are due for release, together with a business optimism index and January economic optimism index.<\/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 AWC Alumina Limited 0.98 7.69 17,437,407 $2,640,530,089 ELD Elders Limited 7.95 7.08 1,062,755 $1,167,685,608 RMD ResMed Inc. 26.54 6.16 2,208,055 $15,229,842,750 JLG Johns Lyng Group 6.54 5.92 779,116 $1,714,481,278 SGR The Star Ent Grp 0.55 5.77 17,097,801 $1,491,714,056 CIA Champion Iron Ltd 8.60 5.26 1,351,163 $4,234,137,116 SQ2 Block 103.32 3.84 80,886 $3,478,649,151 GNC GrainCorp Limited 7.29 3.63 341,237 $1,577,089,089 SNZ Summerset Grp Hldgs 10.10 3.59 1,912 $2,284,243,475 SIG Sigma Health Ltd 0.95 3.53 4,104,809 $1,208,266,274 MEZ Meridian Energy 5.29 3.32 24,685 $6,482,301,793 CRN Coronado Global Res 1.80 3.30 1,192,354 $2,917,029,490 CKF Collins Foods Ltd 12.31 3.27 200,433 $1,401,562,957 TLX Telix Pharmaceutical 9.47 3.27 478,404 $2,968,573,683 S32 South32 Limited 3.37 3.06 13,540,936 $14,810,675,517 <\/div>\n

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

Alumina (ASX:AWC)<\/a><\/strong> jumped 7% after confirming its plans to fully curtail production at its Kwinana Alumina Refinery in WA, commencing in the second quarter of 2024.<\/p>\n

Alumina, which is the Aussie vehicle for NYSE-listed Alcoa, said it will stop producing alumina at its loss-making Kwinana refinery by September.<\/p>\n

Alumina said the decision was in response to losses incurred at the refinery, together with its age, scale, operating costs and current bauxite grades.<\/p>\n

When excluding the high-cost Kwinana refinery, AWC\u2019s average cash costs of production for the remaining two refineries in WA, Pinjarra and Wagerup, were ~$250\/t in 4Q23.<\/p>\n

Kiwi-based retirement village developer, Summerset Group (ASX:SNZ)<\/a><\/strong>, was up 3% today after reporting 360 sales for the quarter ending 31 December 2023, comprising 186 new sales and 174 resales.<\/p>\n

The Q4 2023 result was a record for both new sales and resales, and a significant contributor to Summerset also achieving a record full year result of 1,103 total settlements for the 12 months to 31 December 2023.<\/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 STX Strike Energy Ltd 0.46 -6.63 18,351,584 $1,402,490,671 LTM Arcadium Lithium PLC 10.13 -2.50 4,417,331 $5,637,741,007 NIC Nickel Industries 0.66 -1.50 3,229,304 $2,850,063,570 KAR Karoon Energy Ltd 2.00 -1.48 2,713,302 $1,626,505,174 SUN Suncorp Group Ltd 13.78 -1.01 2,842,797 $17,682,056,979 TUA Tuas Limited 3.34 -0.89 85,170 $1,566,914,934 DTL Data#3 Limited 8.35 -0.83 134,889 $1,302,608,219 GMD Genesis Minerals 1.62 -0.77 1,803,146 $1,792,775,976 PMV Premier Investments 26.66 -0.71 151,494 $4,281,467,975 TAH TABCORP Holdings Ltd 0.78 -0.64 4,241,111 $1,791,692,626 MMS McMillan Shakespeare 16.07 -0.62 104,077 $1,126,127,698 <\/div>\n

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

Premier Investments (ASX:PMV)<\/a><\/strong> was down today as it goes ex-dividend.<\/p>\n

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

The post ASX Large Caps: Shares rebound 1pc; Alcoa vehicle Alumina jumps 7pc on plans to curtail Kwinana refinery<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX200 up almost 1pc, wiping out some of the losses this year Energy sector was the only down after a selloff in crude overnight Alumina\u00a0 [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4091,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Shares rebound 1pc; Alcoa vehicle Alumina jumps 7pc on plans to curtail Kwinana refinery - 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=4090\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Shares rebound 1pc; 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