Closing Bell: Aussie dollar climbs and ASX pares back gains on inflation data

News.com.au

30-04-2025

ASX pares back early gains to settle up 0.69pc
Inflation marginally exceeds forecast (0.9pc vs 0.8pc)
Australian dollar climbs to around US$0.6395
The ASX had a bit of a wobble after today's inflation data came in marginally higher than expected, tipping up 0.9% instead of 0.8% for a steady annual rate of 2.4%.
More importantly, trimmed core inflation – the Reserve Bank's preferred inflation metric – nudged under the RBA's 2-3% target for the first time in three years, settling at 2.9%.
The numbers have convinced markets a 25-basis-point interest rate reduction is all but guaranteed for the RBA's May meeting, with predictions of another four cuts on the cards throughout the rest of the year.
While the RBA has been hawkish on rate cuts since Michele Bullock took the helm, deflationary pressures from the ongoing international trade war are no doubt on their minds.
"We view an RBA rate cut of 25bp in May as a near certainty, given the downside risks to global and domestic growth stemming from global trade policy uncertainty and the inflation outcomes over the past two quarters," ANZ senior economist Adelaide Timbrell wrote in a note.
Turning back to the market, the ASX has lifted 0.69% during today's trading, supported by strength in the Info Tech, Real Estate, Discretionary and Health Care sectors.
The ASX 200 Banks index also rose 1.37%, alongside a 1.22% uptick by the All Technology.
Commonwealth Bank (ASX:CBA) gained 2.22%, standing out from more modest gains by other major banks. They were joined by Suncorp (ASX:SUN), up 2.27% and Insurance Australia (ASX:IAG), up 1.36%.
Over in the tech sector, Life360 (ASX:360) gained 2.67% and Megaport (ASX:MP1) 3.44%. Big caps WiseTech (ASX:WTC), Xero (ASX:XRO), Technology One (ASX:TNE) and NextDC (ASX:NXT) all lifted between 1.05% and 2.45%.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Security Description Last % Volume MktCap
MOM Moab Minerals Ltd 0.0015 50% 245980 $1,733,666
JLL Jindalee Lithium Ltd 0.58 41% 696836 $30,172,658
SKK Stakk Limited 0.007 40% 305663 $10,375,398
ERA Energy Resources 0.002 33% 4901144 $608,094,361
WOA Wide Open Agricultur 0.0355 31% 34887241 $14,409,538
ALM Alma Metals Ltd 0.005 25% 4005600 $6,345,381
CYQ Cycliq Group Ltd 0.0025 25% 249999 $921,033
ERL Empire Resources 0.005 25% 500000 $5,935,653
OVT Ovanti Limited 0.005 25% 4147687 $10,806,191
WHK Whitehawk Limited 0.016 23% 7400433 $9,354,933
OSX Osteopore Limited 0.018 20% 4460326 $2,283,284
BMR Ballymore Resources 0.12 20% 182966 $17,673,059
1AI Algorae Pharma 0.006 20% 1455146 $8,436,974
AZL Arizona Lithium Ltd 0.006 20% 5190549 $22,809,073
LMG Latrobe Magnesium 0.012 20% 10632106 $25,485,374
PV1 Provaris Energy Ltd 0.012 20% 758334 $6,980,013
SMM Somerset Minerals 0.012 20% 6678247 $3,271,122
TMX Terrain Minerals 0.003 20% 1000000 $5,008,892
REM Remsensetechnologies 0.062 19% 1383821 $8,696,167
SVG Savannah Goldfields 0.025 19% 1120359 $18,263,918
NUC Nuchev Limited 0.19 19% 7784 $23,414,288
ECS ECS Botanics Holding 0.013 18% 3350172 $14,256,545
NMT Neometals Ltd 0.075 17% 1936292 $49,243,205
AKN Auking Mining Ltd 0.007 17% 500000 $3,448,673
CRR Critical Resources 0.0035 17% 2019002 $7,842,664
Making news…
Wide Open Agriculture (ASX:WOA) has signed a deal with Univar Solutions China, naming it the exclusive distributor of its lupin protein products across mainland China. Univar's no small player, it's the second-biggest ingredient distributor in the world, pulling in over $11 billion in sales last year. Under the deal, Univar has agreed to buy at least 50 tonnes of lupin protein over 12 months (after a 6-month prep phase), with pricing to be sorted between the two.
Arizona Lithium (ASX:AZL) is powering ahead with its Prairie Project in Canada, locking in approvals to kick off brine production and raising $1.3 million to fund its first facility. It's also reworking plans at Big Sandy alongside key shareholder NTEC. With DLE tech in hand and the lithium market tipped to bounce back, AZL reckons it's in prime position to make a splash.
Strong exploration potential and the formal acquisition of the Coppermine project have delighted Somerset Minerals (ASX:SMM) investors. The company has drummed up 15 anomalous copper zones on the project tenure, with at least five coinciding with other indicators of mineralisation, including positive historical drilling, surface exploration and geophysical results.
A cash flow positive quarter achieving net cash of $420k and customer cash receipts of $1.403m boosted RemSense Technologies (ASX:REM) shares after the company released its quarterly report. Major customer Woodside Energy also renewed its virtualplant subscription during the quarter, alongside Newmont Mining. REM says it's discussing a global rollout across all Newmont Mining operations with the major gold production company.
ASX SMALL CAP LAGGARDS
Today's worse performing small cap stocks:
Code Name Price % Change Volume Market Cap
ICU Investor Centre Ltd 0.001 -50% 103990 $609,023
IVT Inventis Limited 0.01 -38% 51005 $1,222,790
EEL Enrg Elements Ltd 0.001 -33% 6454216 $4,880,668
WEL Winchester Energy 0.001 -33% 100000 $2,044,528
3DP Pointerra Limited 0.06 -28% 9513299 $66,821,374
NC6 Nanollose Limited 0.034 -28% 2056610 $10,950,168
1TT Thrive Tribe Tech 0.0015 -25% 3112589 $4,063,446
88E 88 Energy Ltd 0.0015 -25% 1976288 $57,867,624
CT1 Constellation Tech 0.0015 -25% 1000000 $2,949,467
GMN Gold Mountain Ltd 0.0015 -25% 433530 $9,591,960
M2R Miramar 0.003 -25% 7372978 $3,987,293
RFA Rare Foods Australia 0.006 -25% 362307 $2,175,866
TFL Tasfoods Ltd 0.003 -25% 60261 $1,748,382
MAP Microbalifesciences 0.17 -24% 763535 $100,766,695
GSM Golden State Mining 0.007 -22% 426513 $2,514,336
TMS Tennant Minerals Ltd 0.007 -22% 3058097 $8,603,014
ODE Odessa Minerals Ltd 0.0055 -21% 1838502 $11,196,728
VAR Variscan Mines Ltd 0.0055 -21% 3877994 $5,480,004
ASR Asra Minerals Ltd 0.002 -20% 7556077 $6,765,117
BLZ Blaze Minerals Ltd 0.002 -20% 700000 $3,917,370
C7A Clara Resources 0.004 -20% 6962 $2,558,021
HLX Helix Resources 0.002 -20% 160999 $8,410,484
MGU Magnum Mining & Exp 0.004 -20% 139999 $4,046,807
MMR Mec Resources 0.004 -20% 2558333 $9,248,829
PHL Propell Holdings Ltd 0.008 -20% 125431 $2,783,381
IN CASE YOU MISSED IT
Hot Chili (ASX:HCH) has taken a step toward obtaining priority status for both its Costa Fuego copper-gold project and Huasco water project in Chile, after securing registration with the Office for Sustainable Project Management of the Chilean Ministry of Economy. Both projects fulfilled key requirements to be considered in the government's list of strategic investment projects to be expedited through a streamlined approval process.
In an effort to focus resources on the flagship Yarramba uranium project, Koba Resources (ASX:KOB) has entered into agreements to offload 100% of its interest in the Harrier uranium project in Newfoundland and Labrador to Azincourt Energy Corp in return for C$50,000 and 30m Azincourt shares.
Silver Mines (ASX:SVL) submitted an application with the Department of Planning, Housing and Infrastructure to determine whether a transmission line to power the Bowdens Silver project forms part of a single proposed development in an ongoing effort to reinstate development consent for the project. The development application itself remains alive, with the final decision to be made by the consent authority, the NSW Independent Planning Commission.
Refurbishment of the Casposo toll milling track is on schedule, supporting a binding agreement between Challenger Exploration (ASX:CEL) and the plant operator to process a minimum of 450,000t of material from the Hualilan gold project over three years. CEL is looking to capitalise on current high gold prices.
Trading Halts
At Stockhead, we tell it like it is. While Hot Chili, Koba Resources, Silver Mines and Challenger Exploration are Stockhead advertisers, they did not sponsor this article.