- The Australian shares fell on Thursday amid fears around rising inflation in the US.
- Information Technology, A-REIT, Financials, Energy, Telecommunications Services, Materials, Consumer Discretionary and Industrials remained weak.
- Graincorp, Whitehaven Coal, and Treasury Wines Estates were the top gainers.
The ASX 200 traded lower on Thursday amid concerns around a surge in inflation in the US. The inflation-related fears are expected to keep the global stocks under pressure in the coming few days as investors anticipate interest rate hike by the Federal Reserve, resulting in further sell-off in growth stocks.
Information Technology, A-REIT, Financials, Energy, Telecommunications Services, Materials, Consumer Discretionary, and Industrials remained weak. Health Care was the best performing sector.
Here are top five ASX gainers of the day:
Graincorp Ltd (ASX:GNC)
The stock of the food and beverages firm surged over 8% to hit the day’s high of AU$5.58, eyeing its best one-day gain since 13 November 2020. GNC has posted an 88.9% jump in the first-half underlying net profit after tax (NPAT) from continuous operations; declared fully franked interim dividend of 8 cents per share after failing to declare the dividend a year ago.
The company sees FY21 underlying NPAT in the range of AUD 80 million-AUD 105 million as compared to the loss of AUD 16 million posted in FY21. The company stated an increase in agribusiness earnings was driven by larger crop and raised grain volumes.
Source: © Ymgerman | Megapixl.com
Whitehaven Coal Ltd (ASX:WHC)
The energy stock soared nearly 6% to the intra-day high of AU$1.25. The stock may have surged as hopes of faster-than-previously expected recovery pushed oil prices to eight-week high on Wednesday. The stock has, however, remained under pressure in the past few days, and has given negative returns of nearly 50% in the last one month.
Treasury Wine Estates Ltd (ASX:TWE)
The stock of food & beverages company surged just over 5% to AU$10.45. Treasury Wine Estates said today that its expected FY21 earnings before interest, tax and SGARA were reported between AU$495 million and AU$515 million. The numbers are ahead of the current market consensus expectations, representing a growth of 33% in the second half of 2021, as against the previous corresponding period.
Ausnet Services Ltd (ASX:AST)
The stock of the oil & gas company surged 4.5% to AU$1.82. The stock’s rise could be on account of rise in crude oil prices. The shares surged today after falling over 3% on Wednesday, owing to mixed financial results of the past 12 months.
Ausnet reported revenue of AU$1,924.5 million, down 2.7% in FY20, for the financial year ending 31 March 2021. Even though the revenue stood lower, the company said that it was a robust effort despite a challenging external environment.
Source: © Sadeq68 | Megapixl.com
Elders Ltd (ASX:ELD)
The consumer stock rose just over 3% to the day’s high of AU$12.15. The stock rose despite no major positive update given by the company today.