Closing Bell: Party on the ASX as market amps up the bass, raves to new heights
All 11 sectors neon green, up between 2.47pc and 0.46pc
Healthcare and resources stocks crank higher, leading gains
DJ play it louder
It was a raver of a party on the ASX today, surging 1.37% in its best performance since April.
Just as we'd finished celebrating its latest record breaking close last night, the ASX smashed through that barrier by a solid 100 points, setting the new ceiling at 8757.
Traders were riffing off weaker-than-expected employment data at home yesterday – strongly signalling another interest rate cut in August – and better-than-expected retail data out of the US today.
Retail numbers over the pond lifted 0.6% compared to fears of just 0.1% in June, soothing fears of a major economic slowdown and lowering simmering tensions between the White House and the Fed Reserve.
It all came together to set a pulsing beat for Aussie trade today, with every sector joining the party again.
Healthcare (+2.47%) and materials (+2.06%) were strutting their stuff, showing the rest of the market how it's done.
The ASX 200 Resources index topped the indices charts today, lifting 1.88%, but the banks, tech and gold indices were enjoying the neon lights just as much.
Health and resource stocks break it down
With the entire market feeling the rhythm, let's take a closer look at why some stocks killed it in trade today.
Mesoblast (ASX:MSB) pumped it up, surging 34.6% on sale numbers for its stem cell product Ryoncil. It's only been on the shelves since late March, but MSB has already raked in US$13.2 million gross revenue (unaudited).
Clarity Pharmaceuticals (ASX:CU6) is also kicking it, hot stepping 11.7% higher after completing recruitment for a study assessing a new imaging agent for prostate cancer. It's a disease with a huge unmet need, and a global market estimated at US$12.9 billion.
Flipping to our resources track, battery metals got a kick from surging lithium and rare earth stocks on Wall Street overnight, benefiting from improving sentiment around the critical commodities (and some fresh tension with China over supply chains).
While they've had no news the last couple days, Pilbara Minerals (ASX:PLS) jumped 8.5% and Brazilian Rare Earths (ASX:BRE) 10.2%. They were joined by Iluka Resources (ASX:ILU), up just about 5% and Min Res (ASX:MIN) up 4.8%.
We can't mention resources without acknowledging today's dancing queen – BHP (ASX:BHP) smashed it in trade, adding more than a dollar to its share price after hitting some of its best production numbers ever.
' iron ore out of WA smashed records, with South Flank running above nameplate in its first full year. Even the coal division chipped in, lifting output 5% despite getting slapped by wet weather and moody geology at Broadmeadow,' our own Eddy Sunarto reported in today's Lunch Wrap.
'Over in copper, BHP pumped out over 2 million tonnes group-wide, a record haul in a metal that's fast becoming the lifeblood of the clean energy boom.'
BHP shares closed out the day 3% higher at $40.29 each.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Code Name Last % Change Volume Market Cap
IS3 I Synergy Group Ltd 0.002 100% 29425880 $1,706,300
TR2 Tali Resources Ltd 0.37 85% 2480529 $7,501,000
AS2 Askarimetalslimited 0.012 50% 43553469 $3,233,365
AUH Austchina Holdings 0.0015 50% 558600 $3,025,384
GGE Grand Gulf Energy 0.003 50% 11211 $5,640,850
VRC Volt Resources Ltd 0.005 43% 3745598 $16,396,973
DTZ Dotz Nano Ltd 0.041 37% 2134834 $17,761,929
VBS Vectus Biosystems 0.05 35% 65744 $1,971,298
ALR Altairminerals 0.004 33% 593100 $12,890,233
FAU First Au Ltd 0.004 33% 1234769 $6,228,874
HLX Helix Resources 0.002 33% 1760084 $5,046,291
SHP South Harz Potash 0.004 33% 1181196 $3,849,186
FAL Falconmetalsltd 0.665 32% 3759496 $89,385,000
BRX Belararoxlimited 0.08 31% 674443 $9,881,938
IPB IPB Petroleum Ltd 0.007 27% 1580453 $3,885,217
PIL Peppermint Inv Ltd 0.0025 25% 404020 $4,602,180
PXX Polarx Limited 0.01 25% 5175889 $19,004,008
ROG Red Sky Energy. 0.005 25% 527666 $21,688,909
CYP Cynata Therapeutics 0.185 23% 1513058 $33,893,155
CHL Camplifyholdings 0.49 23% 133350 $28,600,140
LMG Latrobe Magnesium 0.011 22% 16487031 $23,639,310
NVQ Noviqtech Limited 0.039 22% 721525 $8,049,170
ZGL Zicom Group Limited 0.14 22% 126775 $24,674,401
INF Infinity Lithium 0.017 21% 302402 $6,616,289
FRS Forrestaniaresources 0.145 21% 1666346 $37,322,691
Making news...
With copper prices heating up, Askari Metals (ASX:AS2) is hitting all the right notes at the Nejo gold project in Ethiopia, unearthing 14m at 3.2% and 35m at 0.82% copper in historical drilling results.
The company has at least 6 copper targets to hit with the drill bit, with one of particular interest stretching over a 600m by 30m strike.
There's also more than 1170 square kilometres of project to explore in a fertile, underexplored region in the same greenstone belt as the 3.4-million-ounce Kurmuk Mine and the 1.7-million-ounce Tulu Kapi Mine.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Code Name Last % Change Volume Market Cap
PAB Patrys Limited 0.001 -50% 4095800 $4,731,620
1TTDB Thrive Tribe Tech 0.011 -45% 688814 $2,031,723
AOK Australian Oil. 0.002 -33% 2400330 $3,005,349
CRB Carbine Resources 0.003 -25% 459 $4,000,652
CT1 Constellation Tech 0.0015 -25% 1956076 $2,949,467
EEL Enrg Elements Ltd 0.0015 -25% 20495001 $6,507,557
NPM Newpeak Metals 0.021 -25% 1155564 $9,018,008
BUY Bounty Oil & Gas NL 0.002 -20% 276214 $3,903,680
MEL Metgasco Ltd 0.002 -20% 120000 $4,581,467
QXR Qx Resources Limited 0.004 -20% 1157066 $6,551,644
TOU Tlou Energy Ltd 0.025 -19% 123162 $40,256,114
PLN Pioneer Lithium 0.115 -18% 17378 $6,182,636
ADG Adelong Gold Limited 0.005 -17% 16008493 $13,492,060
ADR Adherium Ltd 0.005 -17% 3640331 $9,438,997
CHM Chimeric Therapeutic 0.005 -17% 9498886 $12,091,165
TEG Triangle Energy Ltd 0.0025 -17% 1460016 $6,267,702
XPN Xpon Technologies 0.01 -17% 321808 $4,971,039
FRM Farm Pride Foods 0.29 -16% 244556 $79,622,983
ORD Ordell Minerals Ltd 0.35 -16% 427461 $17,773,483
SRI Sipa Resources Ltd 0.017 -15% 5553643 $8,327,966
AN1 Anagenics Limited 0.006 -14% 7576 $3,474,243
ECT Env Clean Tech Ltd. 0.003 -14% 200000 $14,054,024
ID8 Identitii Limited 0.006 -14% 29293 $5,446,095
OMG OMG Group Limited 0.006 -14% 201588 $5,098,064
TYX Tyranna Res Ltd 0.003 -14% 79120 $11,509,489
IN CASE YOU MISSED IT
Aldoro Resources (ASX:ARN) continues to build the Kameelburg niobium and REE project's scale with TREO results up to 2.1pc.
Break it Down: AnteoTech's (ASX:ADO) recent testing of its Ultranode X battery has achieved nearly 900 cycles at 80% capacity retention.
Hillgrove Resources (ASX:HGO) made further operational improvements at Kanmantoo copper mine in South Australia, improving both mine development and ore processing numbers.
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