ASX Large Caps: ASX falls on first trading day of October as US avoids government shutdown | spcilvly

  • ASX falls on first trading day of October as US avoids government shutdown
  • Megaport Interim CFO Leticia Dorman Appointed to Post Ending Global Search
  • Coal producer Coronado Global Resources falls after revising annual forecast down

Local stocks closed down 0.22% on the first trading day of October. In a choppy trading day, markets were flat through lunch after falling 0.43% earlier in the morning session.

By 2.30pm (AEDT), markets had fallen again, falling 0.21% and continuing to lose strength throughout the afternoon. Eight of the 11 sectors were in the red today when the closing bell rang.

Utilities and materials led the gains, while healthcare and discretionary services led the laggards.

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Markets are awaiting the RBA board’s October interest rate decision tomorrow, the first under new governor Michele Bullock.

The cash rate is widely expected to remain at 4.1% for the fourth time in a row as the RBA waits for the full effect of the previous 12 rate hikes to flow through the economy, despite inflation picking up in August .

The ABS CPI report shows inflation in Australia rose to 5.2% year-on-year in August, in line with market expectations.

And while Bullock may be unwilling to raise rates after just a month of picking up inflation, economists warn that high global oil prices and the potential for rising food costs as a result of a hot summer and dry in Australia could put more pressure on the central bank. works to bring inflation back to its target of 2-3%.

In some positive news, US futures have risen after Congress reached a deal over the weekend to temporarily avoid a government shutdown.

Asian stocks were mixed today as Japanese stocks soared with the export-heavy Nikkei 225 boosted by the yen falling to its lowest level in almost 18 months. The Topix also rose as investors began buying back shares following relief that the US government had once again avoided a shutdown.

There was a market holiday in Hong Kong today, while mainland China has been closed since Friday for the Golden Week holiday, which continues until the end of this week.


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Code Name Price % Change Volume Market cover
AZS Azure minerals 2.82 4% 1,355,119 $1,177,989,853
ANGRY Mader Group Limited 6.56 3% 172,058 $1,276,000,000
S32 Sur32 Limited 3.48 3% 11,143,609 $15,408,952,426
Kara Karoon Energy Ltda 2.71 3% 1,802,329 $1,495,398,002
SNZ Summerset Grp Hldgs 9.16 3% 1,862 $2,092,132,741
ASK King of abacus storage 1,065 2% 264,963 $1,366,667,080
WLE Leaders WAM Limited 1,515 2% 615,391 $1,860,850,064
ZIM Zimplats Holding Ltd. 23.7 2% 4,890 $2,497,193,457
MEZ Meridian energy 4.89 2% 38,637 $6,065,934,186

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Megaport (ASX:MP1) has announced that its global search for a new chief financial officer has ended and interim replacement Leticia Dorman has secured the role.

Dorman has been acting CFO since March 28 and was previously CFO, joining the technology company in 2021 from Brisbane Airport Corporation.

Blue Minerals (ASX:AZS) It is active today with no news. His stablemates Core Lithium (ASX:CXO) Latin Resources (ASX:LRS) and Sayona Mining (ASX:SYA) They are also rising today as investor appetite for lithium revives.

Karoon Energy (ASX:KAR)has also increased today as the price of oil continues to be high, while South32 (ASX:S32) enjoys higher coal prices, which have risen 1.56% today.

platinum miner Zimplats Shares (ASX:ZIM) It also continues to rise after delivering its annual report to shareholders, which was mostly decent news. The company is also benefiting from the price of platinum, which has risen 0.1% compared to the flexibility of the rest of conventional precious metals.


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coal producer Coronado Global Resources (ASX:CRN) has fallen today after announcing that it had revised down its annual production forecast and indicated higher mining expenses due to recent setbacks at two of its coal mines.

CRN reported adverse operating conditions at its Buchanan mine in the US and unexpected downtime for repairs at the Curragh mining complex in Queensland.

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