ASX/200 Closed Higher by 0.17%, Lifted by Health Care

By the end of the trading session on 13 August 2024, the benchmark index S&P/ASX 200 ended Higher by 0.17% and settled at 7,826.80. Out of 11 sectors, 7 ended Higher today along with the S&P/ASX 200 Index

Financial and Consumer Discretionary are the top-gaining sectors, gaining 0.94% and 0.68% in their index value. Health Care and Telecommunication Services is the top-loosing sector, losing 2.87% and 0.57% in their index value.

Orora Limited (ASX: ORA) and Sims Limited (ASX: SGM) are the top-gaining stocks, gaining 19.160% and 10.732% in their stock prices. On the other hand, Seek Limited (ASX: SEK) and Liontown Resources Limited (ASX: LTR) went down by 6.643% and 5.814% respectively are the top-losing stocks.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Financial (Up 0.94%)
• Consumer Discretionary (Up 0.68%)

Top loser for the day:

• Health Care (Down 2.87%)
• Telecommunication Services (Down 0.57%)

Other Factors influencing the market:

• The Australian share market edged higher on Tuesday after a busy day of earnings, though significant slumps in biotech giant CSL and recruitment platform Seek capped the advance.
• Despite expecting double-digit earnings growth for the next five years driven by its core blood products business, CSL shares fell after warning that its Swiss iron deficiency treatments company, acquired for AU$17.8 billion two years ago, had lost ground over the past six months. According to Jason Kururangi, a portfolio manager at Milford, the market's reaction was fair given the implied downgrade to earnings expectations. However, he remains positive on CSL’s growth prospects into 2026.
• The biggest laggard on the main index, Seek tumbled 6.6% to AU$20.66 after lower job ads in the Asia Pacific region impacted its bottom line.
• Building products group James Hardie slumped 2.9% to AU$48.37 after flagging rising costs and high property prices, which weakened demand in the domestic housing market. Its Asia-Pacific division's earnings before interest and tax dropped 11% to AU$41.2 million for the three months ended June 30.
• Wealth giant Challenger was among the top performers, climbing 6.5% to AU$7.33 after reporting a significant increase in normalised net profit for the 2024 fiscal year. Its shares closed at their highest in 18 months.
• Online retailer Temple & Webster soared 23.3% to AU$11.71, the largest gain in two years, after posting bumper results.
• An overnight jump in oil prices buoyed the energy sector. Woodside rose 0.3% to AU$25.50, Santos climbed 1.4% to AU$7.73, and Beach Energy added 2.4% to AU$1.28. Brent prices climbed more than 3% on Monday on expectations that a wider Middle Eastern conflict will tighten global crude oil supplies. Brent traded at US$81.65 at the end of the Sydney session.
• The big four banks were also higher, led by ANZ, which rose 1.6% to AU$28.68 after UBS upgraded the shares to buy.
• Bottles and cans maker Orora soared 19% to AU$2.27 after rejecting a AU$3.3 billion approach by US private equity group Lone Star, stating that the AU$2.55 per share bid “materially undervalues” the business.
• Brent crude rose 2.8% to US$81.90 a barrel, driven by concerns over potential disruptions in global oil supplies amid escalating Middle Eastern tensions.
• The Dow has closed down by 0.36%, the S&P 500 closed up by 0.0043%, and the NASDAQ ended higher by 0.21%.
• Hang Seng is trading higher by 0.26, and FTSE 100 is up by 0.19%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com