{"id":5297,"date":"2024-02-02T05:16:49","date_gmt":"2024-02-02T05:16:49","guid":{"rendered":"https:\/\/economicherald.net\/?p=5297"},"modified":"2024-02-02T05:16:49","modified_gmt":"2024-02-02T05:16:49","slug":"asx-large-caps-asx-rebounds-to-new-high-strike-energy-to-enter-asx200-next-friday-costa-out","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5297","title":{"rendered":"ASX Large Caps: ASX rebounds to new high; Strike Energy to enter ASX200 next Friday, Costa out"},"content":{"rendered":"

ASX claims new record high, after rising 1.4pc
\nAussie home values continue to rise
\nStrike Energy to be included in S&P 200 next Friday<\/p>\n

\u00a0<\/p>\n

The ASX 200<\/strong> regained its losses yesterday and climbed to another record high<\/strong> after closing the day +1.5% higher. For the week, the index was up by almost 2%.<\/p>\n

Local traders took cues from New York overnight, where tech stocks rebounded ahead of Big Tech updates.<\/p>\n

Meta<\/strong> rose +15% after the bell as the company forecast revenue growth in the current quarter that beat analysts\u2019 expectations.<\/p>\n

Apple<\/strong> fell -3% in extended trading after its China revenue missed estimates. At group level, however, Apple reported a profit and revenue beat for Q1.<\/p>\n

\u201cClearly, there is work for Tim Cook and his team to do in 2024, with what seems to be one of the most challenging periods for Apple in the last decade,\u201d said Josh Gilbert, market analyst at eToro<\/em>.<\/p>\n

Amazon<\/strong> meanwhile rose +7% post market after crushing analysts\u2019 expectations for Q4 earnings and revenue.<\/p>\n

On the ASX today, the Real Estate sector led all other sectors after surging over 3% on the back of a 6% rise in sector giant Goodman Group (ASX:GDG)<\/a><\/strong>.<\/p>\n

Meanwhile, across the region, most Asian stock markets rose. Nikkei hobbled briefly after Japan\u2019s Azora Bank tanked 15% on higher losses tied to commercial real estate office exposure in the US.<\/p>\n

The market\u2019s eyes will now turn to the keenly anticipated US January workforce date later tonight.<\/p>\n

\u00a0<\/p>\n

Aussie home values continue to rise<\/h2>\n

Traders also jumped on real estate stocks today after a CoreLogic report<\/strong> released last evening showed that Australia\u2019s housing upswing continued through the first month of 2024.<\/p>\n

CoreLogic\u2019s national Home Value Index (HVI) rose 0.4% in January, up from \u00a00.3% increases seen in November and December \u2013 marking the 12th straight month of value rises.<\/p>\n

\u00a0<\/p>\n\n

\u00a0<\/p>\n

\u201cSince the commencement of the upswing, capital city house values have surged 11.0% higher while unit values are up 6.9%,\u201d said CoreLogic\u2019s research director, Tim Lawless.<\/p>\n

\u201cIt seems that most Australians are willing to pay a higher premium than ever for a detached home,\u201d Mr Lawless said.<\/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 DYL Deep Yellow Limited 1.68 12.75 16,123,071 $1,139,365,538 PNI Pinnacle Investment 11.04 10.62 1,399,749 $2,025,227,877 BOE Boss Energy Ltd 6.09 7.60 4,953,182 $2,312,972,261 SKC Skycity Ent Grp Ltd 2.00 6.67 777,633 $1,425,384,767 ERA Energy Resources 0.06 6.67 2,990,844 $1,328,897,951 GMG Goodman Group 26.99 6.22 4,555,515 $48,258,216,424 PDN Paladin Energy Ltd 1.37 6.20 25,454,593 $3,848,554,438 TLX Telix Pharmaceutical 11.98 5.18 681,473 $3,689,873,328 SLR Silver Lake Resource 1.26 5.00 4,488,451 $1,121,693,200 GMD Genesis Minerals 1.68 4.83 3,165,258 $1,765,279,412 EMR Emerald Res NL 3.21 4.74 1,494,182 $1,913,393,453 SLX Silex Systems 5.17 4.66 1,106,721 $1,165,573,611 SGR The Star Ent Grp 0.57 4.59 17,558,868 $1,563,431,078 ALU Altium Limited 51.80 4.44 272,229 $6,543,571,165 PNV Polynovo Limited 1.95 4.41 1,657,796 $1,290,735,244 PME Pro Medicus Limited 104.99 4.32 244,947 $10,512,379,279 CMM Capricorn Metals 4.69 4.11 1,796,682 $1,697,940,054 <\/div>\n

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

Fund manager Pinnacle Investment (ASX:PNI)<\/a><\/strong> rose 10% after reporting H1 FY24 NPAT of $30.2 million, compared to $30.5 million in the pcp.<\/p>\n

Basic earnings per share (EPS) was 15.4 cents, compared to 15.7 cents in the pcp, while fully franked interim dividend per share was maintained at 15.6 cents.<\/p>\n

Importantly, Pinnacle\u2019s net inflows for H1 was +$4.5 billion, compared with net outflows of -$1.5 billion in the pcp.<\/p>\n

Bank of Queensland (ASX:BOQ)<\/a><\/strong> rose almost 1% after announcing the sale of its New Zealand portfolio of assets to UDC Finance.<\/p>\n

The sale was done at 91% of book value, and as at 31 January, the portfolio size was NZ$238 million (around $221 million).<\/p>\n

\u201cThis transaction is another step in our strategic simplification program, exiting a non-core business and reducing our operational complexity,\u201d said BOQ\u2019s CEO, Patrick Allaway.<\/p>\n

Strike Energy (ASX:STX<\/a><\/strong>) rose +1.6% after S&P announced that it will include the stock as part of the S&P\/ASX 200 at the open of trading on Friday, February 9.<\/p>\n

STX will replace Costa Group (ASX:CGC)<\/a><\/strong> after the company was acquired by Paine Schwartz Partners and the rest of its consortium.<\/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 WGX Westgold Resources. 2.11 -5.80 2,135,313 $1,060,914,915 AGL AGL Energy Limited. 8.20 -3.98 3,907,301 $5,745,261,370 LTM Arcadium Lithium PLC 7.27 -3.26 1,250,104 $4,075,017,802 NIC Nickel Industries 0.76 -2.88 3,560,892 $3,342,931,706 MEZ Meridian Energy 5.13 -2.10 26,911 $6,634,230,742 WHC Whitehaven Coal 8.19 -1.50 3,804,826 $6,952,152,515 AFI Australian Foundat. 7.39 -1.34 740,875 $9,336,655,343 LTR Liontown Resources 0.98 -1.26 14,875,803 $2,398,973,912 CCP Credit Corp Group 17.98 -1.05 410,762 $1,236,774,774 <\/div>\n

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

The post ASX Large Caps: ASX rebounds to new high; Strike Energy to enter ASX200 next Friday, Costa out<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX claims new record high, after rising 1.4pc Aussie home values continue to rise Strike Energy to be included in S&P 200 next Friday \u00a0 [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5298,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: ASX rebounds to new high; Strike Energy to enter ASX200 next Friday, Costa out - 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=5297\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: ASX rebounds to new high; 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