The local sharemarket rose for the third consecutive session, after the ASX 200 added 0.14 per cent or 10 points to 7241.8. Performance was mixed however, with seven sectors (of 11) and 48 per cent of stocks in the ASX 200 finishing in positive territory. Gold miners St Barbara (SBM), Evolution Mining (EVN) and Ramelius Resources (RMS) were amongst some of the best performers today, and helped lift the broader Materials sector 0.9 per cent higher. The Financials sector snapped five straight days of gains and was weighed by a decline in the Big 4 banks.

AGL Energy (AGL) announced that it will ‘close the Torrens Island ‘B’ Power Station’ on 30 June 2026. The closure was driven partly by the ‘completion of the Project Energy Connect interconnector between South Australia & New South Wales’, which is expected to impact the ‘economic viability of the power station’. The closure however, is not forecast to impact underlying profits. AGL shares fell by 1 per cent today.

New Hope Corporation (NHC) closed 8.8 per cent lower, marking itself as today’s worst performer. Earlier today, the coal miner held its annual general meeting and said that ‘weaker production’, ‘wet weather and skilled labour shortages’ impacted its profit growth. NHC expects its full-year production to fall by 1 per cent over FY23.

Whitehaven Coal (WHC) also fell 6.6 per cent after it advised that its Managing Director and CEO, Paul Flynn, has ‘sold 900,000 shares’ for ‘personal reasons’, including to ‘satisfy personal tax obligations’. Paul Flynn still remains as one of WHC’s largest shareholders.

Tyro Payments (TYR) held its annual general meeting and noted that its transaction value and gross profit so far in FY23 increased by 52 per cent and 57 per cent, respectively. TYR shares finished flat.


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Gold miner Regis Resources (RRL) rose by 0.26 per cent – its third straight day of gains – after it said that it expects its ‘production, cashflow earnings and resources to grow’. It also reaffirmed its FY23 guidance for production and all-in-sustaining-costs in its annual general meeting today.

In its annual general meeting today, Kogan (KGN) said that it ‘looks to 2HFY23 with confidence in its ability to return to an agile, inventory-light business’ with ‘strong operating margins’. It also noticed a reduction in its inventory position the four months to October in FY23, and as of October 31, is sitting on a net cash position of A$20.1 million. KGN had its best day since July after rising 7.9 per cent.

Today, 3.1bn shares were traded, worth $6.3bn. 650 stocks rose, 659 fell & 438 finished unchanged.

Looking ahead, the European Central Bank (ECB) will release its latest meeting minutes. In the US, financial markets are closed in observance of the Thanksgiving holiday.

Originally published by Divik Nigam – (Author), CommSec