Top 5 ASX gainers of the day

Summary

  • 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.

READ MORE: Is 2021 going to be a sparkling year for aluminium?

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.

READ MORE: Dogecoin Volatile Over the Weekend; Where is the Digital Currency Heading?

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. 

READ MORE: Why investing in gold stocks can add feather to your portfolio cap

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

READ MORE: Here Are Three ASX Stocks With Dividend Yield Around 7%

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.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK