{"id":4207,"date":"2024-01-10T05:11:21","date_gmt":"2024-01-10T05:11:21","guid":{"rendered":"https:\/\/economicherald.net\/?p=4207"},"modified":"2024-01-10T05:11:21","modified_gmt":"2024-01-10T05:11:21","slug":"asx-large-caps-paladin-up-10pc-on-us-bid-to-bolster-uranium-supply-minres-takes-10pc-stake-in-kali","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4207","title":{"rendered":"ASX Large Caps: Paladin up 10pc on US bid to bolster uranium supply, MinRes takes 10pc stake in Kali"},"content":{"rendered":"

Local shares dipped, led by losses in Mining
\nAussie CPI softens to 4.3pc
\nBitcoin volatile after SEC\u2019s X account compromised<\/p>\n

\u00a0<\/p>\n

The ASX200 dipped by -0.7% on Wednesday, led by losses in the Mining and Energy sectors.<\/p>\n

Local traders brushed aside the highly anticipated report from the ABS this morning, which confirmed that Australia\u2019s inflation<\/strong> is heading in the right direction.<\/p>\n

According to the report, consumer prices or CPI increased in the 12 months to November by 4.3%<\/strong>, much lower than the 4.9% reading in October. This was the lowest CPI reading since January 2022.<\/p>\n

Items in the basket to have increased over the 12 months include: electricity prices, which rose 10.7% in the 12 months to November, and housing, which rose 6.6% in the same period.<\/p>\n

Despite the slowdown, Federal Treasurer Jim Chalmers<\/strong> said that inflation is still too high.<\/p>\n

\u201cIt is still higher than we would like. What this number shows is that the government\u2019s policies are helping to put downward pressure on inflation in our economy,\u201d he said.<\/p>\n

On the ASX today, uranium stocks<\/strong> gained ground after the US Department of Energy (DOE)<\/strong> said last night that it was exploring domestic supply of an enriched uranium fuel to reduce its reliance on Russian supplies.<\/p>\n

Meanwhile, Bitcoin<\/strong> continues to be volatile, up and down 1% in the last few hours to US$46,139 after fake news circulated that the US Securities and Exchange Commission (SEC)<\/strong> had approved spot-Bitcoin ETFs.<\/p>\n

Gary Gensler, the SEC\u2019s chairman, said the regulator\u2019s account on X had been compromised, and someone not authorised has posted false information. Below is the tweet (reposted by crypto YouTuber Lark Davis) that the SEC claims was bogus.<\/p>\n

BREAKING! <\/p>\n

Bitcoin ETFs have been approved! <\/p>\n

It’s real, it’s happening, the SEC just announced it! pic.twitter.com\/4jGIkhc140<\/a><\/p>\n

\u2014 Lark Davis (@TheCryptoLark) January 9, 2024<\/a><\/p>\n\n

Read more here: Yessss, SEC approves Bitcoin ETF\u2026 no, wait it didn\u2019t\u2026 \u2018Jesus Christ, Gary \u2013 you had one job<\/a><\/strong><\/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

Code Name Price % Change Volume Market Cap AWC Alumina Limited 1.14 16.33 24,776,815 $2,843,647,789 PDN Paladin Energy Ltd 1.17 10.38 47,865,999 $3,162,378,065 BOE Boss Energy Ltd 5.01 8.10 4,188,243 $1,892,060,348 AX1 Accent Group Ltd 2.04 5.99 1,713,844 $1,081,062,136 ASK Abacus Storage King 1.12 4.69 533,979 $1,399,519,655 TLX Telix Pharmaceutical 9.81 4.25 704,361 $3,046,268,087 RDX Redox Limited 2.36 3.51 91,873 $1,197,185,656 ORA Orora Limited 2.66 2.91 977,039 $3,466,229,843 SIQ Smartgrp Corporation 8.95 2.82 263,650 $1,155,679,020 HLS Healius 1.55 2.65 603,824 $1,096,361,235 APM APM Human Services 1.30 2.57 497,841 $1,160,235,162 NSR National Storage 2.25 2.51 957,619 $2,980,873,548 GQG GQG Partners 1.73 2.21 639,949 $5,005,978,175 ILU Iluka Resources 6.61 2.09 1,969,616 $2,756,428,994 <\/div>\n

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

Paladin Energy (ASX:PDN)<\/a><\/strong> rose 11% after the announcement from the DOE (see above).<\/p>\n

Alumina (ASX:AWC)<\/a><\/strong> surged another 14.5%, adding to its 7% gain yesterday, following an announcement that it planned 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. 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

The shares of mining services company, Worley\u00a0(ASX:WOR)<\/a><\/strong>, remained in trading halt since yesterday, pending a clarificatory announcement to the market. Order flows show that the shares will be down more than -2% when they come out of the halt.<\/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 LTM Arcadium Lithium PLC 9.25 -8.14 4,480,577 $5,464,105,096 IGO IGO Limited 7.83 -7.34 3,782,811 $6,398,913,020 MIN Mineral Resources. 63.00 -6.13 769,478 $13,098,961,183 SNZ Summerset Grp Hldgs 9.60 -4.95 617 $2,366,241,958 LTR Liontown Resources 1.45 -4.75 6,771,597 $3,693,526,751 PLS Pilbara Min Ltd 3.69 -4.53 19,765,657 $11,616,546,268 LYC Lynas Rare Earths 6.27 -4.27 2,669,265 $6,122,247,901 NEM Newmont Corporation 57.43 -3.97 392,063 $10,478,251,560 DOW Downer EDI Limited 4.26 -3.62 702,922 $2,968,355,661 MCY Mercury NZ Limited 6.10 -3.33 12,549 $8,778,643,878 RMS Ramelius Resources 1.57 -3.24 2,516,751 $1,843,139,001 NIC Nickel Industries 0.64 -3.03 4,940,712 $2,828,634,521 SFR Sandfire Resources 6.57 -3.03 948,882 $3,093,838,575 <\/div>\n

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

Mineral Resources (ASX:MIN)<\/a><\/strong> fell -6% revealed that it has acquired a 9.97% stake in freshly listed lithium explorer,\u00a0Kali Metals (ASX:KM1)<\/a><\/strong>, which itself rose by almost 50%.<\/p>\n

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

The post ASX Large Caps: Paladin up 10pc on US bid to bolster uranium supply, MinRes takes 10pc stake in Kali<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Local shares dipped, led by losses in Mining Aussie CPI softens to 4.3pc Bitcoin volatile after SEC\u2019s X account compromised \u00a0 The ASX200 dipped by [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4208,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Paladin up 10pc on US bid to bolster uranium supply, MinRes takes 10pc stake in Kali - 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=4207\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Paladin up 10pc on US bid to bolster uranium supply, MinRes takes 10pc stake in Kali - 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