{"id":4139,"date":"2024-01-08T05:06:19","date_gmt":"2024-01-08T05:06:19","guid":{"rendered":"https:\/\/economicherald.net\/?p=4139"},"modified":"2024-01-08T05:06:19","modified_gmt":"2024-01-08T05:06:19","slug":"asx-large-caps-shares-down-another-0-5pc-uranium-stocks-gain-after-this-uk-announcement","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4139","title":{"rendered":"ASX Large Caps: Shares down another 0.5pc; uranium stocks gain after this UK announcement"},"content":{"rendered":"

ASX falls ahead of a flurry of economics data this week
\nUranium stocks up after an announcement from the UK government
\nGQG Partners reports record FUM<\/p>\n

\u00a0<\/p>\n

The Aussie stock market continued its horror start to the year, down another half a percent on Monday. The benchmark index has now lost almost 2% in 2024.<\/p>\n

Local traders are wary ahead of a flurry of economic data this week, including the Monthly CPI Indicator<\/strong> on Wednesday, and US Consumer Inflation expectations<\/strong> later tonight.<\/p>\n

Now read: Traders\u2019 Diary: Everything you need to know before the ASX opens<\/a><\/strong><\/em><\/p>\n

The market is also cautious after a stronger-than-expected jobs data in the US released on Friday, which has cast doubt on the timing of the Fed Reserve\u2019s interest rates cutting.<\/p>\n

Futures are now implying a 75% chance of a Fed cut in March, down from 90% probability last week.<\/p>\n

\u201cThe US jobs data affords the Fed plenty of flexibility to delay cutting rates early in 2024,\u201d said BMO Capital\u2019s Ian Lyngen.<\/p>\n

On the ASX, all 11 sectors were down today, led by Mining and Tech sectors. The Energy sector, which was in the green earlier this morning, also turned red in the last hour of trading.<\/p>\n

The best performing segment was uranium stocks, with Paladin Energy (ASX:PDN)<\/a><\/strong> top of the winners\u2019 list, up almost 3%.<\/p>\n

Uranium shares rose after news on the weekend that the UK intends to become the first country in Europe<\/strong> to produce its own high-grade low-enriched uranium fuel (HALEU)<\/strong> for nuclear reactors, which is currently only available from Russia.<\/p>\n

The UK government said it would invest \u00a3300 million (US$382 million) in HALEU \u2013 a move that could \u201cdisplace\u201d Moscow from global energy markets.<\/p>\n

Across the region, stocks in Asia mostly dropped today, led by a selloff in tech shares in Hong Kong.<\/p>\n

Investors are now waiting for China\u2019s CPI and PPI data later this week to give a better guide on the outlook for its central-bank policy.<\/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 BOE Boss Energy Ltd 4.60 8.75 5,006,545 $1,728,599,411 MEZ Meridian Energy 5.23 4.39 13,483 $6,343,033,591 PDN Paladin Energy Ltd 1.05 3.69 21,019,528 $3,028,126,166 LTM Arcadium Lithium PLC 10.31 2.95 3,985,243 $5,431,548,362 IEL Idp Education Ltd 20.80 2.84 859,818 $5,627,958,186 GUD G.U.D. Holdings 11.61 2.56 163,745 $1,594,927,959 SLR Silver Lake Resource 1.16 2.43 2,416,965 $1,056,261,096 CEN Contact Energy Ltd 7.59 2.29 5,277 $1,888,908,532 DEG De Grey Mining 1.22 2.09 2,036,432 $2,212,262,302 SDR Siteminder 5.30 1.92 422,627 $1,440,743,751 IAG Insurance Australia 5.84 1.83 4,844,867 $13,760,912,241 IFT Infratil Limited 9.50 1.71 34,208 $7,776,181,674 WHC Whitehaven Coal 7.99 1.59 4,677,248 $6,575,682,162 SNZ Summerset Grp Hldgs 9.75 1.56 668 $2,249,101,267 MMS McMillan Shakespeare 16.09 1.45 91,209 $1,104,538,361 RRL Regis Resources 2.12 1.44 2,609,213 $1,578,658,109 <\/div>\n

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

GQG Partners (ASX:GQG)<\/a><\/strong> was up almost 1% after reporting a record FUM (funds under management).<\/p>\n

As of 31 December, GQG\u2019s FUM was $120.6 billion, up from $112.6 billion in November.<\/p>\n

\u201cWe expect continued business momentum in 2024, and begin the year with a promising pipeline for potential new business,\u201d said the release from the company.<\/p>\n

\u201cWe believe our strong risk-adjusted returns in 2023 \u2013 and over the longer term \u2013 in combination with our global, diversified distribution capabilities, position us well in the market.\u201d<\/p>\n

Silver Lake Resources (ASX:SLR)<\/a><\/strong> rose announcing preliminary December quarter sales results.<\/p>\n

Sales for the quarter were 57,360 ounces of gold and 239 tonnes of copper, for H1 FY24 sales of 122,781 ounces of gold and 534 tonnes of copper, with 115,563 ounces from the Western Australian operations.<\/p>\n

Sales from both the Deflector and Mount Monger operations were consistent with FY24 guidance.<\/p>\n

Silver Lake ended the half year with cash and bullion of $285 million, with no debt and listed investments of $136 million for a net cash, bullion and liquid investments position of $421 million.<\/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 MFG Magellan Fin Grp Ltd 8.88 -7.98 1,334,917 $1,746,982,935 PNV Polynovo Limited 1.54 -4.95 836,069 $1,114,725,893 NAN Nanosonics Limited 4.11 -4.86 345,246 $1,308,222,865 NEU Neuren Pharmaceut. 23.09 -4.23 401,951 $3,068,375,448 TLX Telix Pharmaceutical 9.17 -3.98 338,798 $3,091,589,823 OCL Objective Corp 11.83 -3.66 15,183 $1,169,121,280 LIC Lifestyle Communit. 17.16 -3.43 61,107 $1,857,766,978 VUK Virgin Money Uk PLC 2.97 -3.26 765,883 $2,011,828,535 SMR Stanmore Resources 3.98 -2.93 985,318 $3,695,705,699 CIA Champion Iron Ltd 8.16 -2.92 709,279 $4,353,335,591 PLS Pilbara Min Ltd 3.80 -2.81 24,045,919 $11,767,019,665 <\/div>\n

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

The post ASX Large Caps: Shares down another 0.5pc; uranium stocks gain after this UK announcement<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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