{"id":4633,"date":"2024-01-19T05:12:01","date_gmt":"2024-01-19T05:12:01","guid":{"rendered":"https:\/\/economicherald.net\/?p=4633"},"modified":"2024-01-19T05:12:01","modified_gmt":"2024-01-19T05:12:01","slug":"asx-large-caps-shares-up-1pc-as-coal-stocks-whitehaven-yancoal-jump-on-quarterly-updates","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4633","title":{"rendered":"ASX Large Caps: Shares up 1pc as coal stocks Whitehaven, Yancoal jump on quarterly updates"},"content":{"rendered":"

ASX ends the week on a high note, up 1pc
\nMarket bullish after strong outlook by global giant, TSMC
\nCoal mining stocks Yancoal and Whitehaven jump after updates<\/p>\n

\u00a0<\/p>\n

Aussie shares rebounded by 1% on Friday following a rally in US tech stocks overnight. For the week however, the benchmark ASX 200 index is down by -1%.<\/p>\n

There was improved risk sentiment across most major European, UK and US equities markets last night, buoyed by some positive outlook from Taiwan Semiconductor Manufacturing Company (TSMC)<\/strong>.<\/p>\n

Further, comments from Atlanta Fed Reserve President Raphael Bostic<\/strong> offered hope that US interest rates could be cut this year.<\/p>\n

On the ASX today, all sectors except for Utilities flashed green, with heavyweight financial<\/strong> and mining<\/strong> stocks leading the way.<\/p>\n

Coal mining stocks led as Yancoal (ASX:YAL)<\/a><\/strong> and Whitehaven (ASX:WHC)<\/a><\/strong> gave the market their December quarter updates, with the latter\u2019s share price hitting a 1-year high.<\/p>\n

Meanwhile, the US Congress<\/strong> has, in the last couple of hours, passed a temporary bill that will avert a partial US government shutdown this weekend. Without the bill, some US agencies were set to run out of money after today.<\/p>\n

Across the region, Asian stock markets mostly advanced, fuelled by hopes for a global recovery.<\/p>\n

\u201cThe better-than-expected results from TSMC could be positive signals on demand recovery,\u201d An Hyungjin, fund manager at Billionfold Asset Management, told Bloomberg<\/em>.<\/p>\n

Looking ahead to tonight in the US, December existing home sales are due, together with the University of Michigan January consumer sentiment.<\/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 TLC The Lottery Corp 4.93 6.02 4,226,717 $10,349,838,419 YAL Yancoal Aust Ltd 5.52 4.94 6,152,985 $6,945,511,439 XRO Xero Ltd 114.33 4.44 214,186 $16,598,555,473 WHC Whitehaven Coal 8.13 4.10 9,842,702 $6,533,852,123 NAN Nanosonics Limited 4.28 3.88 522,958 $1,247,656,992 PXA Pexagroup 10.80 3.85 156,905 $1,844,944,046 SMR Stanmore Resources 4.16 3.74 1,567,981 $3,614,580,452 PME Pro Medicus Limited 99.78 3.29 151,457 $10,090,379,951 ALL Aristocrat Leisure 42.64 3.24 675,690 $26,580,746,617 OCL Objective Corp 12.43 3.24 10,998 $1,146,314,145 WTC Wisetech Global Ltd 73.99 3.21 184,069 $23,900,502,416 SKC Skycity Ent Grp Ltd 1.73 3.13 65,731 $1,277,144,751 CRN Coronado Global Res 1.66 3.11 1,767,544 $2,699,090,505 NHC New Hope Corp 5.33 3.09 2,742,472 $4,370,384,349 MAQ Macquarie Technology 70.79 3.04 21,396 $1,672,451,212 ALU Altium Limited 48.30 2.96 210,373 $6,188,687,971 ARB ARB Corporation. 33.43 2.92 55,257 $2,670,519,924 <\/div>\n

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

Yancoal Australia (ASX:YAL)<\/a><\/strong> surged over 5% after releasing its December quarter report.<\/p>\n

The company achieved 10.1Mt of attributable coal sales during the December quarter. The average realised coal price came in at $196\/t, versus $422\/t in the pcp.<\/p>\n

The coal miner also produced 12.9Mt of saleable coal for the quarter, and held $477m in cash at 31 December.<\/p>\n

Rival Whitehaven Coal (ASX:WHC)<\/a><\/strong> meanwhile rose by 4% after saying that its December quarter ROM (run-of-mine) production fell 6% for the three months to 5.0Mt, but FY24-to-date production was up 17%.<\/p>\n

WHC\u2019s coal sales rose 21% to 3.7Mt in the quarter, with an average realised price of $216\/t from $224\/t in the pcp, and against $527\/t for the December quarter 2022.<\/p>\n

WHC says it holds $1.5b of net cash.<\/p>\n

Mining services stock NRW Holdings (ASX:NWH)<\/a><\/strong> rose 1% after being designated \u2018preferred proponent\u2019 to deliver a $225m suburban Perth roadwork interchange project, funded equally by the Australian and WA governments.<\/p>\n

The Reid Highway Interchanges project\u00a0 is a new free-flowing interchanges on Reid Highway at Altone Road and Drumpellier Drive \/ Daviot Road to improve safety, traffic flow and urban amenity. It\u2019s being built by Main Roads.<\/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 DYL Deep Yellow Limited 1.46 -6.85 8,675,226 $1,200,180,978 BOE Boss Energy Ltd 5.36 -3.94 1,905,784 $2,280,280,074 MCY Mercury NZ Limited 5.96 -3.56 4,918 $8,597,784,337 PDN Paladin Energy Ltd 1.21 -3.39 10,640,025 $3,744,136,294 MEZ Meridian Energy 5.02 -2.90 48,449 $6,545,605,522 ASK Abacus Storage King 1.02 -2.86 1,374,960 $1,379,808,110 EMR Emerald Res NL 3.19 -2.15 1,425,532 $2,036,856,251 GNE Genesis Energy Ltd 2.32 -1.69 11,886 $2,536,151,063 IFT Infratil Limited 9.40 -1.67 32,519 $7,959,346,552 SGR The Star Ent Grp 0.49 -1.50 9,261,446 $1,434,340,439 HGH Heartland Group 1.33 -1.48 2,185 $965,608,115 LTR Liontown Resources 1.20 -1.44 11,643,436 $2,942,711,477 <\/div>\n

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

The post ASX Large Caps: Shares up 1pc as coal stocks Whitehaven, Yancoal jump on quarterly updates<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX ends the week on a high note, up 1pc Market bullish after strong outlook by global giant, TSMC Coal mining stocks Yancoal and Whitehaven [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4634,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Shares up 1pc as coal stocks Whitehaven, Yancoal jump on quarterly updates - 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=4633\" \/>\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 up 1pc as coal stocks Whitehaven, Yancoal jump on quarterly updates - 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