ASX Trading Wrap: James Hardie overcomes inflation headwinds
Selfwealth
Which Shares Won?
The spotlight this week shone brightly on James Hardie (ASX: JHX), which announced a substantial second-quarter profit and a $250 million share buyback plan. The company’s ability to achieve higher sales prices and reduce costs helped to counteract a decrease in volume, impressing investors and driving the share price upward.
In the realm of technology, Weebit Nano (ASX: WBT) shares soared following the announcement of their first revenue from the IP licensing of their cutting-edge embedded ReRAM technology, marking a pivotal achievement for the semiconductor company.
Unexpectedly, Regis Healthcare (ASX: REG), without releasing any news, saw its shares reach a four-year high. The unexpected surge in the aged care operator’s stock suggests strong market momentum and investor optimism.
Jewellery retailer Lovisa (ASX: LOV) also made a significant recovery, rebounding from a 15-month low, which may indicate a revitalized investor confidence.
Rounding out the winners were Siteminder (ASX: SDR), Neuren Pharmaceuticals (ASX: NEU), and Iress (ASX: IRE), each contributing positively to the week’s investor sentiment with their respective company developments.
Which Shares Lost?
On the flip side, some sectors faced challenges. The uranium market saw a retreat in investor interest, affecting stocks such as Deep Yellow (ASX: DYL), Boss Energy (ASX: BOE), and Paladin Energy (ASX: PDN), which were among the weakest performers this week.
Despite a strong half-year performance report with considerable revenue and EBITDA growth, Xero (ASX: XRO) did not quite meet the market’s expectations, particularly in the US, which caused a dampened response from investors.
Coronado Global Resources (ASX: CRN) led the coal sector lower, with changes in major ownership casting a shadow over its recent performance, as investors reacted to EMG’s sale of its stake to Czech group Sev.en Global Investments.
The decline in crude oil prices also placed pressure on energy stocks. Karoon Energy (ASX: KAR) found itself among the significant names feeling the downturn’s impact.
Other companies that experienced setbacks included Alumina (ASX: AWC), Silex Systems (ASX: SLX), Alpha HPA (ASX: A4N), and Liontown Resources (ASX: LTR), each facing headwinds during the recent trading sessions.
Join us next week for another Weekly ASX Trading Wrap Up. Until then, we wish you a successful week ahead in the markets.
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