Skip to main content

Closing Bell 19 October

Grady Wulff
October 19, 2022

The ASX traded mostly higher throughout the midweek session, which saw the key index close the day up 0.31%, despite the SPI futures expecting a sell-off to start the day. It was a day for the miners both on the winning and losing end of the market scale.

BHP Group (ASX:BHP) shares were sold-off today, following the release of the mining giant’s quarterly update including production and unit cost guidance remaining unchanged for FY23, while production levels fell short of market expectations. Chalice Mining (ASX:CHN) jumped more than 9% today after the precious and base metal exploration company released an update on exploration activities at the Julimar Nickel-Copper-Platinum Group Element Project in Western Australia, with new drilling validating the recent 2D seismic interpretation, intersecting the northern extension of the complex down-plunge. Whitehaven Coal (ASX:WHC) shares sold-off at the opening bell following the release of the company’s quarterly update, however quickly rebounded as investors digested the company’s solid report including the company generating $1.55bn of cash in the quarter, and the expectation of La Nina weather events to impact production through the spring season. And Aurora Energy Metals (ASX:1AE) soared more than 17% during today’s session after revealing that the company is finalising the preparatory work for its Phase 1 RC drilling program at the Aurora Energy Metals Project, the first drilling at the project in a decade, with drilling expected to commence next week as the program targets both lithium and uranium.

The winning stocks for today’s session were led by Core Lithium (ASX:CXO) adding 8.2%, Pilbara Minerals (ASX:PLS) lifting 5.8% and Pendal Group (ASX:PDL) rallying 5.5%. On the losing end, Megaport (ASX:MP1) tumbled 22.14% today, after the company released a quarterly trading update, St Barbara (ASX:SBM) continued its decline today, ending the day down 4.76% and Karoon Energy (ASX:KAR) fell 3.3%.

The most traded stocks by Bell Direct clients today were Westpac (ASX:WBC), BHP Group (ASX:BHP), and the BetaShares Australian Strong Bear Hedge Fund (ASX:BBOZ).

In terms of economic data, investors are awaiting the release of Australia’s unemployment rate for September which is out tomorrow morning, with markets forecasting a decline to 3.4% from 3.5% for the month.

The Australian dollar is trading stronger against the greenback at 63.12 US cents, 55.17 British Pence, 94.23 Japanese Yen and 1 New Zealand dollar and 11 cents.

Morning Bell 22 August

Sam Kanaan
August 22, 2023

Morning Bell 21 August

Grady Wulff
August 21, 2023

Weekly Wrap 18 August

Grady Wulff
August 18, 2023

Morning Bell 18 August

Sam Kanaan
August 18, 2023

Morning Bell 17 August

Grady Wulff
August 17, 2023

Morning Bell 16 August

Grady Wulff
August 16, 2023

Morning Bell 15 August

Sam Kanaan
August 15, 2023

Morning Bell 14 August

Grady Wulff
August 14, 2023

Weekly Wrap 11 August

Grady Wulff
August 11, 2023

Morning Bell 11 August

Sam Kanaan
August 11, 2023