ASX 200 eases from all-time highs, Iron ore stocks falter + Gold stocks rip higher

LiveWire03-04

The S&P/ASX 200 closed 10 points lower, down -0.13%. Source: Market Index ASX 200 Session Chart ASX 200 fades from session highs to close near worst levels (Source: Market Index) ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX 200 eases from all-time highs, Iron ore stocks falter + Gold stocks rip higher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-04 15:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.livewiremarkets.com/wires/asx-200-eases-from-all-time-highs-iron-ore-stocks-falter-gold-stocks-rip-higher><strong>LiveWire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P/ASX 200 closed 10 points lower, down -0.13%. \n\n\n\n\n\n\n\n\n\n\nSource: Market Index\nASX 200 Session Chart\n\n\n\n\n\n\n\n\n\nASX 200 fades from session highs to close near worst levels (Source: Market Index)\n...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/asx-200-eases-from-all-time-highs-iron-ore-stocks-falter-gold-stocks-rip-higher\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XAO.AU","symbol_name":"标普/澳交所 普通股指数","start_time":0,"source_url":"https://www.livewiremarkets.com/wires/asx-200-eases-from-all-time-highs-iron-ore-stocks-falter-gold-stocks-rip-higher","article_id":"2416630141","we_media_id":null,"thumbnails":[],"rights":{"source":"livewire_stock","url":"https://www.livewiremarkets.com/wires/asx-200-eases-from-all-time-highs-iron-ore-stocks-falter-gold-stocks-rip-higher","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2416630141","pubTimestamp":1709535660,"sourceInfo":{"source_id":"livewire_stock","name":"Livewire Markets"},"weMediaInfo":null,"summary":"The S&P/ASX 200 closed 10 points lower, down -0.13%.ASX 200 fades from session highs to close near worst levels . ASX 200 finished lower and near worst levels on Monday. Materials and Healthcare stocks underperformed, with heavyweights like Fortescue , BHP , Rio Tinto  and CSL  weighing on the index. Iron ore stocks struggled after Chinese iron ore futures slumped around 3.0%. Gold was all the rage today after prices for the commodity closed near record highs of US$2,080 an ounce last Friday and little changed on Monday. In Australian Dollar terms, prices are also sitting near record highs of A$3,191 an ounce. Here's a recap of how most gold-related names performed:. Spartan Resources : Spartan  was one of the best turnaround stories of 2023 – A beleaguered gold miner to exploration success kind of story. The stock rallied more than 400% between March and December 2023. After two or so months of sideways trade, it's back to trending higher.","collect":0,"end_time":0,"defaultTopTitle":"livewiremarkets.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","GNX.AU":"GENEX POWER LTD","XJO.AU":"标普/澳交所 200指数","BK7104":"黄金","LKE.AU":"LAKE RESOURCES NL","XKO.AU":"标普/澳交所 300指数","BK7017":"商品化工","AMA.AU":"AMA GROUP LTD","BK7021":"服装零售","SXG.AU":"SOUTHERN CROSS GOLD LTD","BK4084":"特种房地产投资信托","JRV.AU":"JERVOIS GLOBAL LTD","BK7509":"中概股","CXL.AU":"CALIX LTD","SPR.AU":"SPARTAN RESOURCES LIMITED","CTT":"CatchMark Timber Trust Inc. Class A","EMR.AU":"EMERALD RESOURCES NL","CUP.AU":"Count Ltd","CCX.AU":"CITY CHIC COLLECTIVE LTD","BK7504":"锂钴概念","BK7050":"调查和咨询服务","BK7064":"综合支持服务","CTT.AU":"Cettire","BK7060":"新能源发电业者","AWJ.AU":"AURIC MINING LTD","BK7049":"互联网与直销零售","BK7095":"多种金属与采矿"},"translate_title":"ASX 200指数从历史高点回落，铁矿石股下跌+黄金股上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AWJ.AU":1,"SXG.AU":1,"SPR.AU":1,"LKE.AU":1,"JRV.AU":1,"GNX.AU":1,"EMR.AU":1,"CXL.AU":1,"CUP.AU":1,"CTT.AU":1,"CTT":1,"CCX.AU":1,"AMA.AU":1,"XAO.AU":0.9,"XJO.AU":0.9,"XKO.AU":0.9},"content_text":"The S&P/ASX 200 closed 10 points lower, down -0.13%. \n\n\n\n\n\n\n\n\n\n\nSource: Market Index\nASX 200 Session Chart\n\n\n\n\n\n\n\n\n\nASX 200 fades from session highs to close near worst levels (Source: Market Index)\nMarkets\n\n\nASX 200 finished lower and near worst levels on Monday\n\nMaterials and Healthcare stocks underperformed, with heavyweights like Fortescue (-3.2%), BHP (-1.5%), Rio Tinto (-1.1%) and CSL (-1.0%) weighing on the index\n\nIron ore stocks struggled after Chinese iron ore futures slumped around 3.0%\n\nLithium stocks faded early gains after Chinese lithium carbonate futures slumped from +5.2% to -0.9% in afternoon trade\n\nReal Estate stocks led to the upside after US treasury yields fell on weaker-than-expected manufacturing data (Australian yields also somewhat lower)\n\nJapanese giant makes $381m bid for Genex (The Australian)\n\nGold Stocks Soar\nGold was all the rage today after prices for the commodity closed near record highs of US$2,080 an ounce last Friday and little changed on Monday. In Australian Dollar terms, prices are also sitting near record highs of A$3,191 an ounce. Here's a recap of how most gold-related names performed:\n\n\n\n\n\n\n\n\n\nASX-listed gold stock performance on 4 February 2024 (Source: Market Index)\nWestgold topped the one-day leaderboards. The company operates five underground mines in the Murchison and Bryah regions of WA. Last week, the company reported first-half revenue growth of 15% to $363 million, almost 500% net profit growth to $44 million and an interim dividend of 1 cent per share. To add some perspective, the net profit figure was 13% ahead of Macquarie estimates while the dividend was a surprise.\nIn the Morning Wrap, I noted a few small-to-mid cap names to watch including Emerald Resources (ASX: EMR), Southern Cross Gold (ASX: SXG), Auric Mining (ASX: AWJ) and Spartan Resources (ASX: SPR). I thought I'd briefly share why these stocks were on my radar:\n\n\nEmerald Resources (+3.5% from session high of +9.3%): High margin gold producer based in Cambodia. It was one of the best performing ASX 200 stocks from last year. In the midst of a pullback but today's rally seems to have hit a wall\n\nSouthern Cross Gold (+8.3%): Shares were halted today pending \"material exploration results at the company's Sunday Creek Project\". It's got a pretty constructive chart – Let's just leave it at that.\n\nAuric Mining (+12.0%): Is a $18m market cap gold producer in WA – Which is a rarity. The company posted $4.9 million in operating cash flows for the December quarter, with $4.5 million cash at bank. A profitable microcap with a ton of cash in a rising gold environment ... that's a lot of leverage.\n\nSpartan Resources (+14.0%): Spartan (formerly Gascoyne Resources) was one of the best turnaround stories of 2023 – A beleaguered gold miner to exploration success kind of story. The stock rallied more than 400% between March and December 2023. After two or so months of sideways trade, it's back to trending higher.\n\nEconomy\nThings were pretty quiet on the macro front. Some minor data of interest today include:\n\n\nAustralian building permits fell 1.0% in January after a 10.1% fall in December, according to the ABS. This was well-below the 4.0% growth expected by economists and marks the fourth consecutive month of decline\n\nAustralian company gross operating profits rose 7.4% in the December quarter, up from a 1.6% fall in the previous quarter\n\nAustralian mineral exploration expenditure rose 0.9% quarter-on-quarter in the December quarter and up 7.3% year-on-year\n\nInteresting Movers\nTrading higher\n\n\n+32.4% Genex Power (GNX) – Takeover proposal\n\n+11.1% Jervois Global (JRV) – Removal from Index (as part of ASX rebalance)\n\n+9.6% Calix (CXL) – Leilac-2 update\n\nGold sector move: Westgold (+12.8%), St Barbara (+10.3%) Pantoro (+9.8%)\n\nUranium sector move: Lotus Resources (+7.3%), Bannerman (+6.4%), 92Energy (+6.3%)\n\nTrading lower\n\n\n-11.1% Lake Resources (LKE) – Cost reduction and strategic partner process\n\n-6.0% Cettire (CTT) – CEO and founder selldown\n\n-4.1% Count (CUP) – Completes acquisition of Diverger (Fri)\n\n-3.6% City Chic Collective (CCX) – Removal from Index (as part of ASX rebalance)\n\n-1.5% AMA Group (AMA) – Removal from Index (as part of ASX rebalance)\n\nBroker notes\nCiti's take on Life360:\n\nOverweight with $14.40 target price\n\"Few ASX-listed businesses have a user base like Life360's. The introduction of advertising to non-paying MAU is capital light, and even at very modest monetisation rates, implies: 1. cons rev upgrades 2. Durable top-line growth 3. High group GM 4. Scope for more reinvestment & faster S&M payback.\"\n\"The stock closed up 38% as investors absorbed the capacity for more durable growth with operating leverage. However no result is perfect. We feel areas of scrutiny include: 1) Subscriber growth; 2) Net subscriber revenue retention and 3) Stock based compensation.\"\n\nMacquarie upgraded Xero to Outperform:\n\nUpgraded to Outperform from Underperform with $152.60 target price\n\"XRO has outlined an aspirational target to double sales while continuing growth in the Rule of 40 (FCF margin + sales growth).\"\n\"New KMP hires are leveraging the strengths in XRO's operating model to address our historical concerns directly, clearly articulating a sound capital allocation framework and fuelled by data-driven decisions. We see low- hanging fruit that can be addressed while margins expand.\"\n\nMacquarie upgraded South32 to Outperform:\n\nUpgrade to Outperform from Neutral with $3.40 target price\n\"S32's slated divestment of metallurgical coal transforms it into a 100% base metals-focused producer, with 70% of NAV driven by aluminium.\"\n\"Concentrated aluminium and base metals exposure provides upside into next year as prices potentially strengthen.\"\n\nCiti's take on Megaport:\n\nUpgraded to Buy and hiked target price by 39% to $16.80\n\"While Megaport’s valuation is elevated at ~9x FY25e revenue, especially as the turnaround could take longer than expected, we remain Buy-rated as i) Megaport’s focus on customers is resulting in higher share-of-wallet; ii) we continue to see upside to FY24e EBITDA guidance; and iii) we see Megaport as a beneficiary of increased cloud- adoption, especially multi-cloud, as Enterprises look to adopt GenAI.\"\n\n\n\n\nNever miss an update\n\n    Enjoy this wire? Hit the ‘like’ button to let us know. \n    Stay up to date with my current content by \n    following me below and you’ll be notified every time I post a wire","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2416630141"}