From Domino's Pizza to CIMIC: Five ASX stocks that generated buzz today
Tags: news
Published: 2021-10-01 06:54:28

Highlights
Domino's Pizza Enterprises shares dropped as much as 6% to emerge as the top loser on the ASX.
Silver Lake Resources shares gained over 5% on spurt in demand for safer assets like gold.
CIMIC shares fell over 2% despite securing a multi-million contract.
Pro Medicus shares slipped over 2% amid broad-based sell-off.
West Cobar Metals shares surged 25% on ASX debut.

Australian shares witnessed sharp selling on Friday, with all the eleven sectoral indices bleeding in red. The concerns about the rollback of COVID-19 stimulus as well as rising inflation dented market sentiment. Some of the other individual stocks that dominated the ASX today include Domino's Pizza Enterprises, Silver Lake Resources, CIMIC, Pro Medicus and West Cobar Metals.

Here’s why these stocks grabbed investors’ attention today:

Domino's Pizza Enterprises slumps 6%

Shares of Domino's Pizza Enterprises (ASX: DMP) declined as much as 8% to hit an intraday low of AU$147.66. Shares of Australia’s largest pizza chain were the biggest loser on the ASX today.

Overall, the share price of Domino's tumbled nearly 7% this week after the company’s announcement on the management restructure. On Wednesday, the company proposed a twin-region structure to focus on business opportunities in Europe and the Asia-Pacific (APAC). In line with its strategy, the company announced the appointment of senior executives to lead the next phase of significant growth.

Silver Lake Resources surges amid risk-averse sentiment

Shares of Silver Lake Resources (ASX: SLR) gained 5.2% to AU$1.41 in intraday trade as traders shifted to safer assets like gold amid market jitters. The gold stock was among the top performers on the ASX, in an otherwise highly bearish market. Gold spot price was quoting at around US$1,754 per troy ounce, down 0.18%, at the time of reporting.

Index heavyweights Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN) and St Barbara (ASX:SBM), were also among the top gainers as investors rushed towards the traditional safe-haven asset, gold, as other industries tumbled amid global economic uncertainty.

West Cobar Metals surges 25% on ASX debut

Shares of West Cobar Metals (ASX: WC1) rallied as much as 25% on their first day of trade on the ASX. The stock hit an intraday high of AU$0.25, against an issue price of AU$0.20.

The mining stock began trading on the ASX after successfully raising AU$5.5 million at an offer price of 20 cents a share in its initial public offering (IPO). The company, which owns projects in NSW region, plans to utilise the IPO proceeds to fund its exploration for target commodities such as copper, gold, lead and silver.

CIMIC shares drops despite securing multi-million contract

Shares of engineering services company CIMIC (ASX: CIM) fell as much as 2.2% to AU$19.22, in line with benchmark index. The stock witnessed selling even after its group’s firm secured a AU$297 million contract.

UGL, which is a subsidiary of CIMIC, has bagged a contract to design, manufacture and supply new fuel-efficient diesel electric locomotives for its long-standing client, Pacific National. The contract will be valid for seven years and it is expected to solidify UGL’s position as Australia’s only manufacturer of freight locomotives.

Pro Medicus dips over 2% amid broad-based sell-off

Shares of Pro Medicus (ASX: PME) declined as much as 2.14% to hit the day’s low of AU$52.90, tracking broad-bases selling across the health care space. The health care index was down 1.8% by afternoon trade. 

The company informed its shareholders this morning that its wholly owned US subsidiary, Visage Imaging, has inked a AU$40 million contract with Novant Health. The 7-year contract will see the company’s Visage 7 Enterprise Imaging Platform and Visage 7 Workflow module implemented throughout Novant Health. This would provide a unified diagnostic imaging platform across the network.