Written by 7:25 pm Interesting Reads, News, Popular Blogs, SLIDER, Trending News

Year-End Market Drama: ASX Falls While Adbri, Link, Tabcorp Soar

Year-End Market Drama ASX Falls While Adbri, Link, Tabcorp Soar
Sharing is caring

As per the recent Australian stock market news, the ASX continued its decline as central bank officials tempered interest rate cut expectations. The S&P/ASX 200 fell 0.3% to 7419.1 near 2:30 pm AEDT, with eight of 11 sectors in the red, and the All Ordinaries dropped 0.3%. Modest falls followed a subdued Wall Street close, with investor enthusiasm tempered by New York Federal Reserve President John Williams deeming interest rate cuts “premature” for the moment.

The Year-end picture of the Stock Markets in Australia

In the stock markets in Australia, various corporate activities drove significant movements.

  • A notable development was the $2.1 billion bid for cement maker Adbri by Ireland’s CRH and the Barro family, causing Adbri’s shares to surge by 31% to $2.98.
  • Link Administration received a $1.2 billion takeover offer from Mitsubishi UFJ Trust and Banking Corporation, resulting in a 27% increase in Link’s shares to $2.16.
  • Tabcorp secured a 20-year license renewal for Victorian betting, leading to a 23% rise in its shares to $0.905.
  • However, Stockland’s acquisition of housing estates from Lendlease caused both companies to incur losses, with Stockland dropping by 6% to $4.35 and Lendlease declining by 1.2% to $7.42.
  • Overall, the ASX 200 index closed with a 2%, or 16.3 points, decrease at 7,426.4 points, with notable gains in Neuren Pharmaceuticals, Tabcorp Holdings, and others, while PEXA Group and Stockland Corporation experienced significant declines.
Name of the CompanyPercentage Increase of the Stock Price Current Stock Price (AUD)
Neuren Pharmaceuticals+29.5%22.20
Tabcorp Holdings+23.1%0.905
Core Lithium+6.6%0.325
Boss Energy+3.7%4.17
Lovisa Holdings+3.5%23.80

Table 1: Companies that recently witnessed a notable increase in their stock prices, along with the respective percentages

Name of the CompanyPercentage Decrease in the Stock PriceCurrent Stock Price (AUD)
PEXA Group-4.2%12.12
Stockland Corporation-3.6%4.35
NRW Holdings-3.3%2.90
Weebit Nano-3.1%4.44

Table 2: Companies that recently witnessed a decrease in their stock prices, along with the respective percentages

Wrapping Up!

The Australian Securities Exchange (ASX) has navigated through fluctuations in recent months, reflecting global economic uncertainties. The latest decline covered in Australian ASX markets business live news, influenced by central bank officials tempering interest rate cut expectations, emphasises the delicate balance in the market. Investors remain cautious amid evolving economic conditions and the nuanced interplay of global factors.


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 COLITCO LLP 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. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should inquire about any investments, and Colitco LLP strongly suggests the users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice), as necessary. Colitco, at this moment, disclaims any 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 Colitco LLP. Some images/music used on this website are copyrighted to their respective owner(s). Colitco LLP 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 the public domain. We have used reasonable efforts to accredit the head wherever it was indicated as or found to be necessary.


Visited 19 times, 1 visit(s) today

Sharing is caring
Close Search Window