Proactive’s Tylah Tully gives a market wrap for December 9.
The ASX200 closed nearly unchanged today, rising just 0.02% to 8,423 points. The index has remained flat over the last five days and sits 1.07% below its 52-week high.
Among the top-performing stocks, Goodman Group (ASX:GMG) added $1.23 to its share price, closing at $37.08, while Audinate Group increased by 3.85% to $8.10 per share, with neither company releasing specific news to explain the gains.
On the downside, Life360 dropped almost 9%, losing $2.18 to finish at $24.03, and Alcoa (NYSE:AA) Corporation fell $4.45 to close at $66.58.
Sector-wise, eight of the 11 sectors finished higher, with Consumer Discretionary leading the gains, up 0.64%, while Energy was the worst-performing sector, falling 1.05%.
Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) was as much as 14.71% higher to $0.078 after announcing an MOU with Mt Isa City Council in Northwest Queensland to assess a sulphuric acid supply strategy for the region while Magnetite Mines Ltd (ASX:MGT) reached $0.165, an increase of 13.8% on the previous close.
Other small cap risers were Livium Ltd (ASX:LIT, OTC:LMMFF), up as much as 11.8% to $0.019, Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF) reached $0.045, an increase of 9.76%, Sprintex Ltd (ASX:SIX) rose by 9.62% to $0.057, Dynamic Metals Ltd (ASX:DYM) was 6.98% higher to $0.23, Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA) hit $0.255, a lift of 6.25%, and Recce Pharmaceticals Ltd inceased 5.32% to a daily high of $0.495.
In broader news, Woolworths reported a $140 million sales loss following a 17-day strike at its distribution centres, exceeding initial estimates, while competitor Coles ramped up operations to capture increased demand.
In international markets, US stocks hit record highs as strong jobs data and consumer sentiment boosted expectations of a Federal Reserve rate cut next week. The S&P 500 closed at its 57th record high this year and is up nearly 30% for 2024.