The Australian share market hit three-month highs last week after the Reserve Bank left interest rates unchanged in its last decision before Christmas.

The cash rate target after Tuesday’s RBA meeting remained at a decade high of 4.35 per cent, where it will stay until at least next February when the central bank board meets again.

This flowed through to local stocks, and Baker Young Limited analysts said traders have priced in an expectation that there will be a one-quarter per cent cut by the RBA by November next year.

Whitebark Energy was the biggest Winner of the lot, with shares rising by 38.89 per cent despite the company’s board announcing that the role of its interim CEO – held by Dr Simon Brealey – was “no longer required”.

He was not replaced, and the board said it would “consider the requirements for a replacement CEO”.

Brealey is Whitebark’s largest shareholder, owning 6.77 per cent of the oil and gas production firm.

Woomera Mining was another winner which rose on news it had commenced drilling on its Ravensthrope Lithium project in Western Australia.

Centrex also made the top five after director Graham Crisp acquired shares on Wednesday.

Though not in the top five, Santos also rose by 5.07 per cent with gains mostly made on Friday after news broke that Woodside Energy was looking to potentially merge with South Australia’s largest company.

Though discussions are of a preliminary nature, the revelation that Perth-based Woodside could take Santos out of SA led to concerned statements from the state government and Business SA.

Terramin Australia was the week’s biggest Loser, falling by 25.93 per cent in the five days which Baker Young Limited analysts attributed to regular trading movements for the company.

Stellar Metals also fell by 25.71 per cent after completing drilling at its Trident Lithium project in NSW. It expects assay results in late January.

Video game developer Mighty Kingdom fell 21.05 per cent over the week, during which it announced two new board members including outgoing chair Michelle Guthrie’s replacement, David Butorac.

Butorac is an existing executive director of the company and has more than 35 years of experience within broadcasting and digital media companies including Foxtel and WIN Corp.

Former Mighty Kingdom managing director and founder Philip Mayes, who stepped down in January 2023, has also returned to the board as non-executive director.

The appointments come after chair Guthrie was ousted by shareholders at the company’s recent annual general meeting.

“The company has been through a number of challenges and distractions over the past 12 months and my role is to provide firm direction to ensure we deliver outcomes around our strategic review process,” Butorac said.

“I am delighted that we are able to welcome Philip back to provide stability and a very extensive understanding of both the company and the industry.”

The full list of Winners and Losers for the week ending 7 December:

Data compiled by Baker Young Limited at the close of trade on 7 December 2023.