ASX closed flat as losses in Energy was offset by gains in other sectors
\nAlumina gets takeover proposal from Alcoa
\nAussie Broadband lobs proposal for Superloop<\/p>\n
\u00a0<\/p>\n
The ASX 200 closed flattish on Monday, as a selloff in the Energy sector was offset by gains in the Discretionary and Tech sectors.<\/p>\n
Energy stocks<\/strong> sold of after crude prices<\/strong> were down by more than -2%.<\/p>\n The market is concerned about slowing demand for oil amid China\u2019s woes at home, as well as recent hawkish signals from the Fed.<\/p>\n Traders are also wary about a string of inflation data t<\/strong>o be released this week, with Australia, Europe, Japan, and the US to report their latest CPI figures. In Australia, the CPI is expected to rise to 3.5% for January, up from the 3.4% in December.<\/p>\n Stocks on the move today include Alumina (ASX:AWC)<\/a><\/strong>, which rose +7% after Alcoa Corp<\/strong> lobbed a $3.4bn takeover proposal of the company \u2013 see more below.<\/p>\n Across the region, stock markets in Asia swung between gains and losses today. China market<\/strong> was down after Bloomberg reported that as many as 11 Chinese companies lost their credit ratings at Moody\u2019s Investors Service, which withdrew the scores amid record defaults.<\/p>\n \u00a0<\/p>\n Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n Code Name Price % Change Volume Market Cap LTR Liontown Resources 1.16 8.14 14,944,452 $2,604,992,162 AWC Alumina Limited 1.10 7.60 19,478,752 $2,959,715,045 PLS Pilbara Min Ltd 3.91 6.54 28,301,878 $11,044,747,358 LOV Lovisa Holdings Ltd 31.00 6.27 664,105 $3,199,734,280 TAH TABCORP 0.74 6.12 7,456,572 $1,586,275,637 NEU Neuren Pharmaceut. 21.94 5.73 492,615 $2,642,422,777 REG Regis Healthcare Ltd 3.60 5.57 315,882 $1,026,529,074 APM APM Human Services 1.40 5.28 3,069,553 $1,215,266,078 GOR Gold Road Res Ltd 1.50 5.09 5,245,952 $1,542,022,830 SGR The Star Ent Grp 0.47 4.49 15,005,290 $1,276,562,990 ABB Aussie Broadband 4.72 4.08 3,106,505 $1,262,293,207 LTM Arcadium Lithium PLC 7.29 3.99 3,860,327 $2,962,353,748 NEC Nine Entertainment 1.80 3.75 2,416,692 $2,814,525,763 TPW Temple & Webster Ltd 12.50 3.61 300,671 $1,482,773,406 SIQ Smartgrp Corporation 10.57 3.38 389,621 $1,357,406,797 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Suncorp Group (ASX:SUN)<\/a><\/strong> reported improved earnings for H1, primarily driven by a significant improvement in investment returns. Group NPAT for the half was $582 million, up 5.4% on pcp. Net investment returns were $396 million, up from $167 million in the pcp. Interim dividend was declared 34 cents a share, representing a 65% payout ratio.<\/p>\n Alumina (ASX:AWC)<\/a><\/strong> rose 7% after announcing that it has received a non-binding proposal from Alcoa Corp<\/strong> to acquire Alumina for a scrip consideration of 0.02854 shares of Alcoa common stock for each Alumina share. The proposal is at a 13.1% premium to the share price of Alumina on 23 February. Alumina has now entered into a Transaction Process and Exclusivity Deed with Alcoa, which grants Alcoa a 20 business day period of exclusivity.<\/p>\n Aussie Broadband (ASX:ABB)<\/a><\/strong> has also submitted a non-binding indicative proposal to acquire telco provider Superloop (ASX:SLC)<\/a><\/strong>. Under the proposal, Superloop shareholders would receive 0.21 ABB shares for each Superloop share held.<\/p>\n \u00a0<\/p>\n Swipe or scroll to reveal the full table. Click headings to sort.<\/em><\/p>\n Code Name Price % Change Volume Market Cap TPG TPG Telecom Limited 4.92 -8.30 2,498,355 $9,966,071,346 AX1 Accent Group Ltd 1.92 -7.69 2,305,015 $1,171,150,648 NHF NIB Holdings Limited 7.72 -5.68 1,626,203 $3,961,383,856 IRE IRESS Limited 7.56 -5.26 425,448 $1,490,580,003 STO Santos Ltd 7.07 -4.78 7,582,039 $24,098,475,371 BXB Brambles Limited 14.72 -3.60 2,130,189 $21,249,242,764 YAL Yancoal Aust Ltd 5.68 -3.49 4,392,334 $7,764,183,890 EDV Endeavour 5.10 -3.04 10,178,755 $9,420,554,889 GNE Genesis Energy Ltd 2.33 -2.92 63,611 $2,579,136,674 AZJ Aurizon Holdings Ltd 3.84 -2.91 2,063,810 $7,270,780,729 ILU Iluka Resources 7.01 -2.84 1,965,023 $3,071,692,897 PWH Pwr Holdings Limited 12.58 -2.78 191,771 $1,300,264,655 FLT Flight Centre Travel 21.26 -2.57 571,751 $4,790,753,836 VEA Viva Energy Group 3.42 -2.56 3,318,343 $5,420,023,527 CDA Codan Limited 10.01 -2.53 187,507 $1,862,116,481 APA APA Group 7.98 -2.51 2,175,546 $10,494,595,941 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n TPG Telecom (ASX:TPG)<\/a><\/strong> was the worst performing large cap today, down -8% after reporting that its FY23 Statutory EBITDA was down 12.2% to $1.875 billion, due to one-off gain on tower sale in FY22. EBITDA excluding this tower sale gain item from FY22 was $1.93 billion, which is in line with guidance. FY24 EBITDA guidance comes in between $1.950b to $2.025n.<\/p>\n Endeavour Group (ASX:EDV)<\/a><\/strong>\u2019s H1 group sales grew by 2.5% to $6.7 billion, with Dan Murphy\u2019s and BWS both driving increased retail sales, and an improved food and bar offering delivering growth in hotels sales. Group EBIT increased to $661 million, benefiting from cost optimisation, including $53 million in savings from the endeavourGo program, and gross margin management. Interim dividend was declared at 14.3c.<\/p>\n Yancoal Australia (ASX:YAL)<\/a><\/strong>\u2019s Measured, Indicated and Inferred Coal Resource for 31 Dec came in at 4,857Mt, down -6.6% from the pcp. Recoverable Proved and Probable Coal Reserves is at 970Mt, down -1.9% from pcp. Marketable Proved and Probable Coal Reserves was at 720Mt, down 1.5% on pcp.<\/p>\n <\/span><\/p>\n The post ASX Large Caps: Alumina gets $3.4bn offer from Alcoa; Aussie Broadband lobs bid for Superloop<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"BIG CAP WINNERS<\/h2>\n
BIG CAP LOSERS<\/h2>\n