Top 10 at 11: ASX falls as tariffs bring headwinds
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
In the cold hard light of morning
News the EU had managed to secure a trade deal with the US was enough to soothe markets yesterday, lifting a solid 0.36% on broad market gains.
This morning, the truth of the matter is sinking in.
While avoiding the 30-50% tariffs on EU goods Trump had been threatening was definitely a win for the global economy, the overall increase in tariffs is still a net loss.
In 2022, the trade weighted average global tariff was about 4%.
Obviously, there are a huge range of trade agreements and regional or sector specific tariffs are common, but something like two thirds of all global trade was entirely tariff free.
The new reality is looking closer to a 15% tariff on most goods, a 3-fold increase, and that's going to have long-term and far-reaching effects on the global economy.
The ASX fell as much as 0.33% in the first hour this morning, with 8 of 11 sectors retreating.
The financials sector is leading losses, down 0.75%, while energy mounts a resistance, climbing 0.37% on a 2% lift in oil prices overnight.
WINNERS
Code Name Last % Change Volume Market Cap
RAN Range International 0.003 50% 37086 $1,878,581
BEO Beonic Ltd 0.295 37% 64555 $15,235,117
HLX Helix Resources 0.002 33% 2000000 $5,046,291
OSX Osteopore Limited 0.015 25% 5083213 $2,485,674
ALR Altairminerals 0.005 25% 12936351 $17,186,977
CAV Carnavale Resources 0.005 25% 11000 $16,360,874
PKO Peako Limited 0.0025 25% 33333 $2,975,484
ADG Adelong Gold Limited 0.006 20% 268333 $11,243,383
DRE Dreadnought Resources 0.012 20% 3152528 $50,795,000
FBR FBR Ltd 0.006 20% 2000566 $28,447,261
In the news...
LiDAR-based logistics company Beonic (ASX:BEO) has secured a contract to deploy its passenger flow management technology across seven major international airports in north Africa.
BEO reckons the contract is worth about $10.6m over its 2.5-year term, with an option to extend for another 3 years. The company is already operating in the London Heathrow, JFK Terminal 4, Narita and Abu Dhabi airport hubs.
Back in July 2024, regenerative medicine company Osteopore (ASX:OSX) inked an exclusive agreement with a subsidiary of Zimmer Biomet Holdings to distribute OSX craniofacial products in Europe, the Middle East and Africa, and the Asia Pacific.
In the first 12 month of the partnership implant sales in Europe, Australia and Hong Kong tripled compared to the year before. Management says it's clear evidence of the market's appetite for OSX products and demonstrates the resilience of Osteopore's manufacturing capability.
LAGGARDS
Code Name Last % Change Volume Market Cap
ANR Anatara Ls Ltd 0.006 -33% 3175653 $1,920,454
DTM Dart Mining NL 0.003 -25% 8365431 $4,792,222
MRQ Mrg Metals Limited 0.003 -25% 125000 $10,906,075
SFG Seafarms Group Ltd 0.0015 -25% 1 $9,673,198
RFT Rectifier Technolog 0.004 -20% 2500 $6,909,920
KZR Kalamazoo Resources 0.09 -18% 2520457 $24,133,287
TMX Terrain Minerals 0.0025 -17% 3666666 $7,595,443
GTR Gti Energy Ltd 0.003 -14% 496738 $13,029,292
CHR Charger Metals 0.052 -13% 149718 $4,645,215
NIM Nimyresourceslimited 0.06 -12% 787417 $16,352,694
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
3 hours ago
- News.com.au
Gold and rubidium place Everest Metals on path to early cashflow and major growth
Everest Metals' Mt Edon project hosts one of the world's highest grade rubidium resources Mt Dimer gold project has potential to deliver near-term cashflows Meanwhile, Revere has potential to host a sizeable resource amendable to gravity processing At first glance, Everest Metals Corporation may not look all that different from its peers in the junior resource space with it actively progressing three projects at various stages of exploration and development. Look a little closer though and you will understand the differences that make the company stand out, such as having a gold project not far from a development decision and cashflow, another gold project with the potential for a large bulk-scale gold resource with a massively simple gravity processing option and perhaps most impressively, a critical mineral project that boasts one of, if not the, highest grade resources of its kind. Speaking to Stockhead, Everest Metals Corporation (ASX:EMC) chief operating officer Simon Phillips touched on its projects in Western Australia and what makes them stand out. 'We have two West Australian gold projects – Mt Dimer near Southern Cross and the Revere gold project just north of Meekatharra– and the Mt Edon rubidium project,' he said. 'Mt Dimer has an initial resource of 48,500oz of gold with mining approvals imminent and ore processing treatment negotiations underway, while Revere is very close to its maiden mineral resource. 'The three projects are all at different stages and put us in quite a unique position for both advancement and news flow over the next 12 months.' Rubidium a standout The standout is the Mt Edon project in the Mid-West region that has yet to capture the attention it deserves despite hosting a world-class resource for a critical mineral seeing increasing demand on a granted mining lease. Rubidium is recognised as a critical mineral in the US and Japan thanks to its use in military, new energy and high-tech applications in propulsion, night vision equipment, radiation detection, infrared signals, thin batteries, vapour turbines and in ion engines that could power spacecraft. In communications, it's used in cloud communications and fibre optics. In the medical field, its uses are in sedatives, tranquilisers and medications for treating epilepsy. That's on top of specialty glass, where rubidium enhances its conductivity, lifespan and stability, and even gives fireworks a purple colour. Equally importantly, it can be used as a replacement for caesium – supplies of which are declining. 'At the moment we've got a resource of 3.6 million tonnes at 0.22% Rb2O, but importantly within that we've got 1.3Mt at 0.33% Rb2O, which also includes some point fours and point fives within that resource, which is in fact all we need to mine if we would even like to supply just 10% of the known rubidium market, as opaque as it is,' Phillips said. 'We'll be drilling there in kind of mid-to-late August with a view to upgrading the inferred resource to the higher confidence indicated resource in pretty short order, so that we're able to report the detailed results of our engineering and scoping studies to date. 'These studies will show the commercial and technical viability of a processing plant with a capacity of 750 to 1,000 tonnes per annum of rubidium chloride.' Phillips also noted the company had very good technical partners in the CSIRO and Edith Cowan University. 'We've worked with Edith Cowan over the past 15 months to develop a Direct Rubidium Extraction (DRE) and processing process. That's been quite a breakthrough, which we have patented,' he said. 'We have some very strong interest from industrial offtake partners in the US and Japan. 'We'll work through those as we work through upgrading resource, releasing scoping, then pre-feasibility studies and a grant for a pilot plant. We'll look at pilot plant design later this year as we move through to the next stage of the project, which is effectively a standalone project. Gold driver for early cashflow While Mt Edon will undoubtedly be a major value driver, the company's Revere and Mt Dimer gold projects are valuable in their own rights. The 171km2 Revere project sits in the Murchison region along an inferred extension of the Andy Well Greenstone Shear System. It hosts nuggety coarse gold from the surface with no strip ration along a 2km strike area with work by Everest establishing that gold can be processed using extremely simple – and cost effective – gravity processing. 'Our geological team has outlined a pathway to half a million ounces of gold over the next six months,' Phillips said. He added that it was a large goldfield with plenty of upside. Mt Dimer is ~120km northeast of Southern Cross and was last mined in the mid 1990s when the gold price was about $500/oz. It sits on a mining lease and has a resource of 722,000t grading 2.1g/t for 48,500oz of contained gold. What makes Mt Dimer stand out is that it presents the company with the opportunity to generate near-term cashflows. 'Our pit optimisation metrics, even at $4,500 an ounce gold price, make this a very profitable small mining venture over a 10-month campaign,' Phillips said. 'We've had indications from the WA mining department that our mining approvals there are imminent. We're looking to commence earthworks in Q4 2025.' Ore from the project will be processed via toll treatment with Phillips adding there were a number of options there. Mt Dimer also has exploration upside with the company holding an adjacent exploration lease. 'We have got some excellent targets to follow up there because the geological team's thesis it that the Mt Dimer gold mining areas of Beacon and Everest will actually connect up. I think we're able to do that. We're able to add quite a lot of value to the whole area,' he noted. Looking ahead, the key milestones for Everest will be defining a maiden gold resource at Revere, securing mining approvals and toll processing agreements at Mt Dimer, a resource upgrade at Mt Edon, and the release of engineering scoping studies as well as pilot plant engineering, scoping and design. 'We've got a pretty full six months coming up,' Phillips said. 'All in all, I think it's pretty compelling value for a circa 30 million market cap company.'
News.com.au
3 hours ago
- News.com.au
X2M Connect is wiring Asia's smart cities and it's only getting started
AI boom puts X2M Connect at heart of Asia's smart cities 
From solar farms to safety alarms, this Aussie tech is everywhere
 The company is scaling fast across the region Smart cities are no longer futuristic puzzles, they're being built in real time across Asia. From Seoul's live 3D model of the city to India's purpose-built GIFT City, the region is racing to stitch data into the fabric of daily life. And with investment surging and AI stepping in as the city's co-pilot, urban living is getting a full-blown tech makeover. Into this rapidly evolving ecosystem steps X2M Connect (ASX:X2M). If you haven't heard of it, you're not alone. But this Aussie outfit has quietly become the digital spine behind some of Asia's smartest cities. X2M owns a patented software platform that connects almost any device – old or new – to the internet, collects data and sends instructions back, often without needing a human to step in. 'Our business is data aggregation, data management and data distribution,' CEO Mohan Jesudason explained to Stockhead. 'We can collect data from any device – analogue, digital, smart, dumb. We see ourselves as a software platform that is a key enabler of artificial intelligence." He adds that smart devices can be connected quickly, while older ones can be retrofitted with a chip to send and receive data, making nearly any machine controllable through X2M's platform. And that's exactly what it's doing today across half a million devices and counting in South Korea, Japan, Taiwan and the UAE. From utilities to AI X2M's platform started in water and gas, replacing manual meter reading with real-time digital data. In cities like Gochang, South Korea, it helped detect leaks, improve billing and even uncovered more than 200 welfare cases where residents had stopped using water. In Japan, it's used to predict when bottled gas will run out, cutting truck trips and slashing supplier costs by nearly 20%. But while the early focus was utilities, the ambition was always bigger. Today, that same platform powers solar forecasting, smart city systems and emergency response. In June, for example, X2M signed a $3 million deal to roll out 100,000 'Help Me' safety devices across Seoul, linking directly to police and CCTV in real time. 'It gives the police your exact location, and directs all the public CCTV cameras to you, so that they can track you to help,' said Jesudason. The project could scale to 1 million units, he said, showing X2M's platform was now critical infrastructure. Jesudason breaks the AI value chain into three layers: engines, data aggregation and management. 'In that data collection space, there are lots of hidden gems. That's an undiscovered, in my view, valuable layer.' And that is exactly where X2M is staking its ground. Solar, smarter One of X2M's biggest growth areas is renewable energy. Through its platform, built in partnership with UAE-based Sirius Digitech, X2M provides data that helps solar operators forecast demand, detect faults and boost efficiency. In Taiwan, delivers forecasts in 15-minute intervals for up to 30 days with better than 90% accuracy (according to the company's data). And when you're managing a solar farm with 100,000 panels, that level of insight is crucial. 'You might have a few thousand panels that are not working or that are about to stop working. And our AI engines can tell you that these panels are not working,' said Jesudason. The platform helps lift earnings by up to 10%, cut costs and improve decision-making. 'We are the provider of data for artificial intelligence applications in the renewable energy space,' Jesudason said. Fast to deploy, easy to scale According to Jesudason, X2M can also deploy its solution in a new market in a matter of days, thanks to its microengine and network-agnostic design. 'For instance, we've integrated into a large Indian company in under seven days, and we don't need any capex to scale up," he said. India's massive 250-million-meter digitisation program is indeed a clear target for the company. 'We will move into the Indian market in the foreseeable future.' So is the UAE, where X2M's partner Dicode has already secured two commercial contracts. The company also expects Australia and the US to open up within 12-18 months. And once X2M's platform is in, it tends to stick. Switching away is expensive and in many regions, the platform is already listed on official government websites. What the market doesn't see, yet… X2M is now entering what it calls 'Horizon Three", a transformation phase focused on scaling and hitting profitability. Horizon One was about building and validating the platform. Horizon Two was expansion, getting enterprise and government customers onto the system and locking them in. 'Horizon Three is, how do you scale this business up? How do you take it to profitability? How do you end up with a share price that's many times what it is today?' Jesudason said. He says X2M will become profitable when revenue hits $15–16 million, and from there, it's highly scalable. 'Once you get past that 15, 16 million dollar hump, then you tend to grow your earnings exponentially. And it's a business that spits out a lot of cash.' 'But I think right now, investors haven't got their heads around the value that's going to accrue to companies that can capture and manage and distribute data quickly, efficiently and cheaply." The proverbial penny, he believes, will eventually drop that there is a lot of value to be had in this space. At Stockhead we tell it like it is. While X2M Connect is a Stockhead advertiser, it did not sponsor this article.
News.com.au
3 hours ago
- News.com.au
ASX Health Quarterly Wrap: Dimerix inks fourth licensing deal, Audeara nails record revenue year
As the quarterly reporting season kicks into gear, investors are again tuning in to see how ASX-listed companies fared over the final stretch of FY25 and what clues they're offering for the financial year ahead. It's a key moment for investors to assess how businesses are tracking and what lies ahead, especially for the long-suffering healthcare sector, which has lagged in recent years despite strong fundamentals. After falling 4% over FY25 – while the broader market climbed 10% – there are signs the tide may finally be starting to turn. The S&P/ASX 200 Health Care index (ASX:XHJ) jumped 5.4% last week following a 5% gain the week before, sparking talk of a rotation back into the sector. Throughout FY25 and during the last quarter many ASX healthcare names have taken steps to improve efficiency, reduce costs, advance trials or establish key partnerships in a bid for long-term growth. Here's how a selection of ASX health stocks performed in the June quarter and what they're signalling for FY26. Dimerix (ASX:DXB) Late-stage clinical biotech Dimerix continued to progress its lead program ACTION3 phase III clinical trial of DMX-200 in focal segmental glomerulosclerosis (FSGS) during the quarter, including a positive Type C meeting with the US Food and Drug Administration (FDA). The meeting confirmed acceptability of proteinuria as an appropriate endpoint for full marketing approval in the US for DMX-200 in FSGS. During the quarter Dimerix announced a licensing agreement for DMX-200 with Amicus Therapeutics for DMX-200 in the US, its fourth for the drug across multiple territories. The company banked an upfront payment of US$30 million (~A$48m) in May. Collectively the licensing deals provide up to ~$1.4 billion in total upfront payments and potential milestone payments, plus royalties on net sales with more than $65m in total payments received to date. During the quarter Dimerix received its first development milestone payment of ¥400 million (~A$4.2m) from FUSO Pharmaceutical Industries Ltd, its exclusive licensee of DMX-200 for FSGS in Japan after the first trial site opened. Additionally, during the quarter, Dimerix received ~$6m from the exercise of listed options which expired on June 30. The sixth Independent Data Monitoring Committee (IDMC) review of ACTION3 has been completed, with 219 patients currently randomised/dosed in the trial. Dimerix ended the quarter with $68.3m. The company said it continued to focus on patient recruitment into ACTION3 trial, as well as licensing opportunities with potential partners in territories not already licensed. Audeara (ASX:AUA) Personalised audio technology provider Audeara achieved record full-year cash receipts of $4.9m, up 38.4% on FY24, driven by the expanding global sales profile for the AUA Technology division. Audeara achieved quarterly unaudited revenues of $722,000 with record-high unaudited annual revenues of ~$3.79m, up 21.9% on FY24. Cash receipts of $957,000 in Q4 FY25 were consistent with pcp of $982,000 and contributed to the record annual cash receipts. Quarterly group cash receipts were underpinned by accelerating momentum for Audeara's core domestic wholesale channel, which rose by 34.9% QoQ and 115% YoY. Net operating cash outflows of $757,000 were largely driven by strategic focus on R&D and stock purchasing. The company had $1.42m cash at bank as at June 30, 2025. Strategic inventory build is expected to flow through to increased net operating cash flows next quarter, with the start of product delivery for a follow-up purchase order by Avedis Zildjian. In its outlook Audera noted renewed momentum in its core wholesale markets was being supported by continued growth opportunities for AUA Technology across global markets. The Zildjian purchase order is expected to contribute to a significant increase in cash receipts for the September quarter, reflecting timing of payments. LTR Pharma (ASX:LTP) LTR Pharma kicked off a distribution partnership deal for its Spontan intranasal spray for erectile dysfunction (ED) with Symbion in May with initial pharmacy orders and prescriber feedback "encouraging, supporting broader market uptake in future quarters". Patients can now have Spontan prescriptions filled at Symbion's 3900 pharmacies Australia-wide. A pharmacy training program was delivered to Sympbion's pharmacists nationwide on Spontan's unique benefits and patient counselling. In May urologist associate professor Darren Katz was appointed to LTR Pharma's scientific advisory board, bringing extensive ED treatment expertise as medical director of Men's Health Melbourne and immediate past leader of USANZ Andrology Special Advisory Group. During the quarter LTR Pharma advanced its new ED product Roxus. As Spontan moves through the formal FDA process, Roxus offers a fast-track pathway to serve patients through personalised care channels. The company said development of a scalable, GMP-compliant manufacturing process for Roxus was being progressed in collaboration with its Australian pharmaceutical partner. Key formulation milestones have been achieved bringing Roxus closer to market readiness ahead of its planned US launch in H1 CY26 with manufacturing optimisation underway. In May LTR signed a collaborative development agreement with Strategic Drug Solutions (SDS) to develop Oroflow for oesophageal motility disorders, a debilitating group of conditions affecting swallowing function. The program leverages LTP's proven intranasal delivery platform and patent rights from Spontan and Roxus. LTR Pharma had a cash balance of $31.8m as at June 30, 2025, which it said provided substantial runway to execute strategic objectives across multiple markets. EZZ Life Science (ASX:EZZ) EZZ achieved a major strategic milestone during the quarter with the official launch of EZZDAY, a US-focused brand, with the initial product range including four FDA-registered health supplements. All four products are manufactured in the United States to align with consumer preferences, reduce tariffs and freight costs, and enhance supply chain efficiency. In June, EZZ entered a three-year distribution agreement with ROFA Enterprises, securing a minimum purchase value of A$21 million over the contract term. ROFA will distribute EZZ-branded products across Thailand, Vietnam and Singapore, managing local logistics and marketing, while ensuring compliance with EZZ's brand and operational standards. During the quarter EZZ expanded its domestic retail footprint via a new partnership with Australian pharmacy chain Direct Chemist Outlet. Under the agreement, EZZ's flagship products will be stocked in a selection of DCO's 130 stores nationwide. The company launched a new consumer health product EZZ Liquid Calcium Soft Gel for key international and domestic markets to further capitalise on its strong performance in the calcium supplement category. During the quarter EZZ engaged the University of Sydney to undertake a two-year in vitro research project into the effects of a novel multi-ingredient nutritional supplement on bone growth. Receipts from customers totalled $21.3m, representing a 46% increase from the previous quarter with a positive cash inflow of $1.4m. Cash reserves reached $20.8m as at 30 June 2025 after paying $900,000 in dividends during the quarter. EZZ remains debt-free, excluding lease liabilities.
