ASX 200 afternoon report: 13 August 2024
Find out below who have been the shakers and movers in today’s session on the ASX 200.
![Adobe ASX AUD](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/Adobe_AUD_07-11-2024.jpg/jcr:content/renditions/original-size.webp)
The ASX 200 trades 9 points (0.12%) higher at 7823 at 2.15pm AEST.
ASX 200 strives for recovery despite RBA's rate hike warnings
The ASX 200 looks set to lock in a third straight session of gains as the aftershocks from last week's volatility continue to ease. Offering a boost to market sentiment, Japan's Nikkei extended its rebound and has reclaimed all the ground it lost after it plunged 15% last week.
Despite the broader market recovery, the ASX 200 remains 120 points (1.50%) below its opening level from last Monday, constrained by the Reserve Bank of Australia's (RBA) recent hawkish stance. Governor Michele Bullock's comments warned that the RBA stands ready to raise interest rates to combat sticky inflation.
ASX 200 stocks
Consumer-facing stocks
- Kogan gained 4.6% to $4.21
- JB Hi-Fi gained 3% to $75.17 after hitting a fresh record high of $75.42
- Temple and Webster soared 25.16% to $11.90 after it reported a 26% revenue increase to a record $498 million
Oil sector
Crude oil surged 4.2% overnight to $80.06 as geopolitical tensions in the Middle East continue to rise.
- Beach Energy gained 3% to $1.28, reclaiming some ground lost yesterday after its disappointing earnings report saw it dive 12.63%
- Santos added 0.8% to $7.68
- Woodside Energy added 0.61% to $25.57
Banking sector
- ANZ shares gained 1.4% to $28.62 after a European broker upgraded it to a buy.
- Westpac added 0.82% to $28.45 after the same broker upgraded it to neutral
- CBA gained 0.9% to $131.95
- NAB added 0.6% to $36.20
- Macquarie slipped 0.46% to $203.40
Biotech stocks
- CSL lost 4.37% to $295.45 after it reported a robust 25% increase in net profit to $2.64 billion for FY2024. However, its FY25 guidance was below expectations, reflecting weaker-than-expected revenue growth
- Seek fell 9.87% to $19.94 after it reported job ad volumes dived 20% in 2024, which saw its annual earnings fall 13% to $483 million
ASX 200 technical analysis
The ASX 200 has a critical layer of support in the 7600/7500 area, which includes the 200-day moving average at 7591 and the April 7492 low. This region provides a solid level for investors to lean against to add to longs, leaving room to add towards the lower bound of the weekly trend channel at 7000.
ASX 200 daily chart
![ASX 200 daily chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/au/images/News-and-articles/asx13aqug.png/jcr:content/renditions/original-size.webp)
- Source: TradingView. The figures stated are as of 13 August 2024. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/Rebrand/Article_banners/Indices_global_component_banner.jpg/jcr:content/renditions/original-size.webp)
Discover how to trade the markets
Learn how indices work – and discover the wide range of markets you can trade CFDs on – with IG Academy's free ’introducing the financial markets’ course.
Put learning into action
Try out what you’ve learned in this index strategy article risk-free in your demo account.
Ready to trade indices?
Put the lessons in this article to use in a live account – upgrading is quick and easy.
- Get fixed spreads from 1 point on the FTSE 100, 1.2 on the Germany 40, and 0.4 on the US 500
- Protect your capital with risk management tools
- Trade more 24-hour markets than any other provider
Inspired to trade?
Put your new knowledge into practice. Log in to your account now.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.