NCM, QBE, SHL, REA: How these ASX blue-chip stocks are performing today?

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NCM, QBE, SHL, REA: How these ASX blue-chip stocks are performing today?

ASX concept photo
Image source: © Danijelm | Megapixl.com

Highlights

  • Australian markets continue to remain lower by about 0.14% by noon today (11 May).
  • Healthcare and real estate stocks are in the green, while miners reversed yesterday’s losses.
  • Here’s how ASX blue-chip stocks--Newcrest Mining, QBE Insurance, Sonic Healthcare and REA Group—are performing.

Australian market representative-ASX200 is down 0.14% by noon today (11 May). In the last five trade days, the index has lost 3.60%. Industrial sectors included in the index showed a mixed picture. Healthcare remained top gainer, followed by real estate, while financials were leading the losses. Meanwhile, top miners appeared to be reversing yesterday’s losses.

In this background, let us take you through the performance of four ASX200 stocks from the sectors mentioned above. Newcrest Mining Limited (ASX:NCM), QBE Insurance Group Limited (ASX:QBE), Sonic Healthcare Limited (ASX:SHL) and REA Group Limited (ASX:REA) by noon today.

Newcrest Mining Limited (ASX:NCM)

While top miners like RIO and BHP were seen reversing yesterday’s losses, the share price of gold miner, Newcrest Mining Limited, is still 0.6% lower by noon. NCM shares are at AU$24.9 by mid-day after covering up some early morning lows.

Since its quarterly report, released in April end, there have been no new announcements. However, NCM's share price has lost around 6.01% over the last five days and 12% in a month. This could be because of the decline in international gold prices.

Market capitalisation of Newcrest Mining Limited was about AU$22.39 billion at time of drafting this article.

QBE Insurance Group Limited (ASX:QBE)

Next up is QBE Insurance Group Limited from the Insurance sector, which traded down 1.05% by mid-day. The underwriting and reinsurance service provider has not issued any ASX announcement, and the share price seems to be following the broader sectoral trend.

Earlier in the last week, QBE Insurance had released its latest performance update on the ASX, reflecting a gross premium growth in comparison to the prior year. It was also expecting a hit of US$57 million from the Russia-Ukraine war. However, in the last five days of trade, QBE share price has gained about 2.27%. In the last one month, it has registered a gain of 5.23%.

QBE Insurance Group Limited trades on the ASX with a market capitalisation of AU$18.55 billion. Its share price lies in the 52-week range of AU$10 to 12.88 apiece.

Sonic Healthcare Limited (ASX:SHL)

In line with the sectoral trend, SHL share price was trading slightly higher today at AU$34.89 apiece.

SHL witnessed a share price rise despite any new price-sensitive announcements by the company. The only possible reason for its share price rise seems to be the sectoral pull-up. Although SHL share price has lost over 3% on ASX in the last five days, it has started reversing losses now

Sonic Healthcare Limited shares trade in the 52-week price range of AU$32.12 to 46.95, with a market capitalisation of AU$16.69 billion.

REA Group Limited (ASX:REA)

Another ASX200 stock grabbing investor attention is REA Group Limited from the real estate sector. While REA group is a media and entertainment company, its core operations are property market advertising and publishing. Due to this, its share price seems to get influenced by the developments in the real estate sector.

While REA Group has no new announcements on the ASX, its share price was down by about half a per cent by mid-day today. While the real estate sector was seen reversing losses, REA Group shares were trading in the red. REA share price has been on a losing streak since 9 May, after release of its Q3 financial results. This could be because of profit-booking move by investors.

Meanwhile, on ASX, REA shares trade in the 52-week price range of AU$104.37 to 180.67, with a market capitalisation of AU$14.95 billion.

Price performance an hour before market close (3 PM AEST)

Image Source © 2022 Kalkine Media ®

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