Closing Bell: ASX ends flat, squeezed between resources and telecoms
ASX 200 Banks fall, shedding 1.3% as finance loses 1.27pc
Vietnam inks trade deal with US one week ahead of tariff-pause deadline
ASX wobbles to the finish
The ASX 200 was keeping us guessing right to the last minute there, briefly tipping into positive territory before ending trade at -0.02%.
The ASX All Ords did end the day in the green, adding 0.06% on outsized gains from the materials sector (+3.02%).
Resource stocks did the heavy lifting, supported by only energy (+0.82%) and healthcare (+0.60%).
The ASX 200 Resources index climbed 2.82%, followed by smaller upticks in the Small Ords (+0.19%), All Tech (+0.19%) and All Ord Gold (+0.13%) indices.
The ex-small cap movers were Pilbara Minerals (ASX:PLS) up 11%, Stanmore Resources (ASX:SMR) adding 10%, 29Metals (ASX:29M) up 8.9% and Whitehaven Coal (ASX:WHC), gaining 8.2%.
Vietnam strikes trade deal with US
As Trump's tariff deadline ticks closer, Vietnam has locked down a trade deal, shedding more than half of soon-to-be-imposed tariffs in the process.
The US President took to Truth Social to announce the trade deal, calling it a 'Great Deal of Cooperation'.
As part of the deal, tariffs on exports from Vietnam will be reduced to 20%, but goods that pass through the country in something called 'trans-shipping' will be slapped with a 40% import tax.
In return, Hanoi has promised open trade with the US, charging no tariffs on US products. The details are once again elusive, but Vietnam has committed to "providing preferential market access for US goods, including large-engine cars," according to a government statement.
The Trump Organization's plans to invest $1.5b in hotels, golf courses and luxury real estate alongside local partner Kinh Bac City Development has also been given the rubber stamp.
One of the proposed developments is a Trump Tower in Ho Chi Minh City.
The deal with Vietnam marks only the third to be publicly announced after the UK and China, leaving dozens of countries out in the cold as the July 9 tariff-pause deadline swiftly approaches.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Security Name Last % Change Volume Market Cap
SFM Santa Fe Minerals 0.14 352% 1639810 $2,257,382
AGY Argosy Minerals Ltd 0.034 79% 40878997 $27,662,498
OKJ Oakajee Corp Ltd 0.033 65% 547791 $1,828,921
REY REY Resources Ltd 0.015 50% 6666 $2,115,609
AXP AXP Energy Ltd 0.0015 50% 45000 $6,684,681
ICU Investor Centre Ltd 0.003 50% 171309 $609,023
PAB Patrys Limited 0.0015 50% 4369649 $2,365,810
IXR Ionic Rare Earths 0.018 38% 54768248 $68,476,535
NHE Nobleheliumlimited 0.035 35% 982639 $15,587,650
AMS Atomos 0.004 33% 1000000 $3,645,055
MRQ Mrg Metals Limited 0.004 33% 2668879 $8,179,556
PLG Pearlgullironlimited 0.008 33% 23200 $1,227,251
ALM Alma Metals Ltd 0.006 33% 4579516 $7,891,773
ICE Icetana Limited 0.07 30% 2037188 $28,718,599
WR1 Winsome Resources 0.165 29% 1937590 $31,096,415
G50 G50Corp Ltd 0.2 29% 419139 $24,892,637
AUG Augustus Minerals 0.027 29% 404104 $3,568,875
EQS Equitystorygroupltd 0.025 25% 175992 $3,336,408
1AD Adalta Limited 0.0025 25% 2979897 $2,142,633
AUK Aumake Limited 0.0025 25% 147767 $6,046,718
CUL Cullen Resources 0.005 25% 2837583 $2,773,607
FHS Freehill Mining Ltd. 0.005 25% 50000 $13,655,414
KPO Kalina Power Limited 0.005 25% 3581916 $11,731,983
MRD Mount Ridley Mines 0.0025 25% 4242 $1,556,978
THR Thor Energy PLC 0.01 25% 1103950 $5,686,319
Making news…
Santa Fe Minerals (ASX:SFM) has laid claim to the Eburnea gold project, acquiring it from Turaco Gold (ASX:TCG) in return for 12 million shares, 4m performance rights and a potential 2.5% net smelter royalty.
The company has also locked in commitments for a $1.2m share placement, offered at a 61% premium to its last closing price, to fund exploration at Eburnea. The project has produced broad gold hits of up to 26m at 4.82 g/t and a bonanza intersection of 3m at 35.79 g/t gold that SFM is keen to explore further.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Security Name Last % Change Volume Market Cap
EEL Enrg Elements Ltd 0.001 -50% 85001 $6,507,557
BYH Bryah Resources Ltd 0.007 -42% 18326548 $10,439,442
CHRCA Charger Metals 0.01 -41% 5000 $726,049
VEN Vintage Energy 0.003 -40% 6621802 $10,434,568
CYQ Cycliq Group Ltd 0.002 -33% 175810 $1,381,550
CDE Codeifai Limited 0.056 -30% 29133426 $35,435,076
ADY Admiralty Resources. 0.005 -29% 100000 $18,406,356
CAV Carnavale Resources 0.003 -25% 6237500 $16,360,874
KLR Kaili Resources Ltd 0.006 -25% 14599 $1,179,203
SFG Seafarms Group Ltd 0.0015 -25% 83118 $9,673,198
MPP Metro Perf.Glass Ltd 0.05 -24% 51732 $12,234,954
WWG Wisewaygroupltd 0.145 -22% 8140 $30,960,341
MSG Mcs Services Limited 0.004 -20% 1585283 $990,498
RLG Roolife Group Ltd 0.004 -20% 3461420 $7,963,906
LMS Litchfield Minerals 0.1 -17% 137626 $3,485,527
RCM Rapid Critical 0.0025 -17% 348017 $4,247,334
UBI Universal Biosensors 0.021 -16% 426388 $7,451,686
NOR Norwood Systems Ltd. 0.016 -16% 821111 $9,802,625
MDR Medadvisor Limited 0.064 -15% 3283092 $46,858,879
BLU Blue Energy Limited 0.006 -14% 835489 $12,956,815
MBK Metal Bank Ltd 0.012 -14% 372275 $6,964,426
REC Rechargemetals 0.013 -13% 664534 $3,854,850
RMI Resource Mining Corp 0.013 -13% 1144947 $11,016,800
OMG OMG Group Limited 0.007 -13% 94750 $5,826,359
TRI Trivarx Ltd 0.007 -13% 182013 $4,958,611
Making news…
Bryah Resources (ASX:BYH) has purchased a 0.75% smelter royalty over two mining leases and four exploration licences that form part of the Bryah Basin manganese project.
The royalty relates to manganese rights over the existing 3.066Mt at 20.2% manganese resource at Bryah Basin, purchased in return for 100 million BYH shares.
IN CASE YOU MISSED IT
StockTake: Trek Metals (ASX:TKM) has discovered a gold nugget field at its Turner prospect, part of the Christmas Creek project in WA.
Break it Down: HyTerra (ASX:HYT) has discovered unexpectedly high levels of helium in a well the company is now converting for appraisal.
Perth-based medtech Singular Health (ASX:SHG) has appointed radiologist Dr Alex Alonso as the approved US radiology expert under its binding enterprise agreement with Provider Network Solutions (PNS).
Early drilling success at the TMT project has confirmed the potential of high-priority targets and reinforced confidence in Belararox's (ASX:BRX) exploration model.
Golden Mile (ASX:G88) has intersected copper-lead in maiden drilling at the Pearl copper project.
ClearVue Technologies' (ASX:CPV) solar glass is part of a new $20m RMIT-led project exploring how greenhouses could grow more food using less energy in a changing world.
Sipa Resources (ASX:SRI) will shortly start drilling to infill and extend previously identified gold mineralisation at the Bimba and Sheoak prospects.
Pure Hydrogen (ASX:PH2) has signed a distribution agreement with an Argentinian renewable energy company for its heavy-duty hydrogen fuel and battery electric vehicles.
LAST ORDERS
Theta Gold Mines (ASX:TGM) has completed a private $4m placement to Kong Ruihua Green Development Limited, an existing institutional investor and shareholder of TGM.
Having made a decision to mine the TGME Gold Mine in South Africa, TGM is updating its feasibility study, targeting completion by Q3. The fresh capital will support the update, as well as early development works for the mine.
TRADING HALTS
Antipa Minerals (ASX:AZY) – cap raise
BPM Minerals (ASX:BPM) – material tenement acquisition
Chariot Corporation (ASX:CC9) – proposed acquisition
Manuka Resources (ASX:MKR) – cap raise
Unith (ASX:UNT) – cap raise
At Stockhead, we tell it like it is. While Theta Gold Mines is a Stockhead advertiser, it did not sponsor this article.
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
Jon Bon Jovi dragged into dispute over $65 million mansion
Jon Bon Jovi has been dragged into a property dispute after he reportedly refused to sell his $US43 million ($A65 million) mansion to a mysterious buyer who's snapping up properties in the sought-after area. According to the Wall Street Journal, an anonymous buyer has 'been quietly assembling one of the most valuable private estates' in Palm Beach — which sits mere minutes from President Donald Trump's Mar-a-Lago resort. So far, the unnamed buyer has forked out $US250 million ($A380 million) on four separate homes in the Florida enclave in recent months. The estate is said to include a $US178 million ($A271 million) piece of prime oceanfront land that was initially put on the market by cosmetics mogul William Lauder — who is heir to the Estée Lauder fortune — in 2023 for $US200 million ($A304 million), as well as two separate homes that sit across the street from that plot. Sources told the Journal the unidentified real estate mogul is far from done with the spending spree. The buyer is said to already have their sights set on another investment property: a Mediterranean-style mansion that sits alongside their newly acquired waterfront land. The home is owned by the 'Livin' on a Prayer' singer. The acquisition of the rocker's dwelling would provide the buyer with one of the most sizeable waterfront properties in Palm Beach — made all the more impressive by the addition of the two properties that sit directly behind it. Yet, the apparent real estate scheme has reportedly hit a major snag with Bon Jovi, who is said to have 'resisted overtures to sell his property'. Property records seen by Realtor indicate the seven-bedroom, 12-bathroom home was last purchased in July 2020 for $US43 million ($A65 million) via an LLC — of which Bon Jovi's longtime business manager Charles Sussman was listed as the manager. The home had originally been listed for $US44.9 million ($A68.3 million) in January of that year and was described as a 'stunning direct oceanfront estate' complete with a workout room, a temperature-controlled wine cellar, private in-home elevators, and two oceanfront loggias, as well as a separate pool cabana. Bon Jovi's home sits directly to the left of the Lauder land that was reportedly purchased in February of this year in an off-market deal. Sources told the Journal the buyer paid close to the reduced asking price of $US178 million ($A271 million) for the plot. The land was originally purchased by Lauder in two separate deals. The first acre was bought up in 2020 for $US25.4 million ($A38.6 million), one year before the businessman added the second 1.8-acre property for an undisclosed sum. Initially, the two plots had been home to two separate oceanfront mansions, which Lauder demolished to make space for his own enormous dwelling. However, he shelved those plans and opted to put the vacant land on the market. In addition to that expansive plot, the anonymous buyer is said to have also picked up two dwellings that sit directly behind it, although neither dwelling ever came on the market. Property records show that one of those homes was owned by Thomas Harvey and his wife, Cathleen Black, who bought the dwelling for $US4.2 million ($A6.3 million) in 2018. Though Realtor estimates the home is now worth around double that, the Journal reports that the buyer paid a staggering $US18 million ($A27 million) for it. Mr Harvey told the outlet in an email that the person made an 'unsolicited offer' on his house — while adding that he does not know their identity. Days later, the dwelling next door to Mr Harvey's property was also sold, this time for $US30 million ($A45 million), according to the Palm Beach Daily News, having previously been registered to a trust. That home, which was also purchased in an off-market deal, had last traded hands for $US5.3 million ($A8.07 million) in 2017 and was last linked to an LLC. Both properties, per the Palm Beach Daily News, were most recently purchased via LLCs that are registered in Delaware: Creekshore LLC and Mango Leaf LLC. According to The Real Deal, discussions about the potential purchase of Bon Jovi's home are still ongoing, despite the singer's reluctance to part ways with his property. The buyer is also said to have begun conversations about buying the home that sits on the other side of the Lauder land. That home is currently owned by casino mogul William M. Rickman Jr., who purchased it in 2016 for $US13.1 million ($A19.9 million). Built in 1935, the property boasts six bedrooms and 6.5 bathrooms, as well as water frontage. Though the identity of the buyer has not yet been confirmed, sources have claimed to the Real Deal the person believed to be behind these multimillion-dollar deals is Microsoft mogul Charles Simonyi, who spent years working alongside Bill Gates. Gates' name was also thrown into the mix of potential buyers, along with former Microsoft CEO Steve Ballmer, suggesting the deals all have strong ties to the computer company. All three men boast incredibly impressive property portfolios, and each owns at least one dwelling in the popular Seattle enclave of Hunts Point, Washington State which is widely considered to be something of a haven for billionaire tech moguls.
News.com.au
3 hours ago
- News.com.au
Not tired of winning: Trump on a roll, for now
Even for a man who once boasted that his supporters would get "tired of winning," US President Donald Trump is on a roll. The 79-year-old's victory on his "One Big, Beautiful" bill is the latest in a series of consequential successes at home and abroad in the past two weeks. From US airstrikes that led to an Iran-Israel ceasefire, to a NATO spending deal and a massive Supreme Court win, they have underscored Trump's growing power. The Republican will now take a victory lap wrapped up in the US flag after Congress passed the tax and spending bill that embodies the political goals of his second term. He will sign it at an Independence Day event at the White House on Friday featuring a flyover by a B-2 stealth bomber, the type of aircraft used in the US raids on Iranian nuclear sites. "It's going to be a HOT TRUMP SUMMER," the White House said on social media. After the bill passed, White House Deputy Chief of Staff, Dan Scavino, posted a video of Trump telling a campaign rally during his first presidential run in 2016 that "we're going to win so much, you may even get tired of winning. And you'll say, 'Please, please. It's too much winning." - 'Work just beginning' - The author of the book "Trump: The Art of the Deal" has bragged of several in recent weeks, but the bill is arguably the biggest. It honors many of the pledges he made in the 2024 election with its tax cuts and funding for his mass migrant deportation program. It also showed his ability to get his Republican party to fall in line despite bruising infighting -- and a major row with his billionaire former ally Elon Musk. But more importantly for a man who openly wants to join the pantheon of US presidents whose faces are carved into Mount Rushmore, it promises to consolidate his legacy. The bill seals Trump's hard-line US domestic policy into law -- in contrast to the rash of presidential executive orders he has signed that can be overturned by his successors. Yet Trump still faces a series of challenges. They start with selling a bill that polls show is deeply unpopular among Americans due to its huge cuts to welfare and tax breaks for the rich. "The president needs to lead the effort to go out and explain it, he has the biggest megaphone in America," Karl Rove, the White House deputy chief of staff under president George W. Bush, told Fox News. Rove added that it would have a "huge impact" on the US midterm elections in 2026, as Democrats pounce on it and people realize that they are losing healthcare coverage. "The work is just beginning." Trump was talking about the bill at a campaign-style rally in Iowa on Thursday that was also kicking off celebrations for America's 250th anniversary year. - 'Win after win' - Trump's winning streak has meanwhile fueled the self-belief of a man who said he had been "saved by God to make America great again" after he survived an assassination attempt last year. But the next prizes could be far harder to obtain. After the Iran-Israel ceasefire, Trump has stepped up his search for a deal to end to the brutal war in Gaza between Israel and Hamas. He will host Israeli Prime Minister Benjamin Netanyahu at the White House on Monday in push him -- but peace has proven cruelly elusive in the 22-month conflict. Trump's election campaign promise to end Russia's war in Ukraine within 24 hours has also stalled, despite him having his sixth call with Russian President Vladimir Putin earlier on Thursday. The US president is meanwhile due to reimpose steep tariffs on dozens of economies next week. He has insisted that countries will either bow to him and reach a deal or face sweeping levies, but global markets remain gripped by uncertainty. White House Press Secretary Karoline Leavitt however insisted that Trump would do what he had promised. "Despite the doubters and the Panicans, President Trump has delivered win after win for the American people," Leavitt told reporters.
ABC News
3 hours ago
- ABC News
Indonesia to sign $52.3b trade pact with US in effort to avoid higher tariffs
Indonesia will sign a trade and investment pact worth $52.3 billion ($US34 billion) with the United States in an effort to avoid tougher tariffs due next week. The deal, set to be signed on July 7, will mean Indonesia increases imports of US fuels and will see investment by Indonesian companies in energy and agriculture sectors in the US, according to the Indonesian Chief Economic Minister Airlangga Hartarto. Flag carrier Garuda Indonesia also said it was in talks to buy up to 75 jets from Boeing. Indonesia is facing a 32 per cent tariff in US markets and has previously offered to increase US imports to facilitate trade talks between the two sides. US President Donald Trump announced sweeping global levies on goods brought into the US in April, throwing world stockmarkets into chaos, but the majority of the tariffs were paused for 90 days. Mr Trump announced a deal with Vietnam on Wednesday, under which the country would face a minimum 20 per cent tariff, down from the original 46 per cent. Mr Hartarto said on Thursday by addressing the trade balance with the United States, Indonesia hoped to get a better trade deal than the one struck with Vietnam. "This shows that government, regulators, state-owned enterprises and the private sector are together in responding to the imposition of US reciprocal tariffs," he said. Meanwhile, Garuda's potential jet purchase may include 737 Max 8 and 787 jets, its chief executive Wamildan Tsani said. It was unclear whether Garuda's discussion with Boeing was part of the tariff negotiations. The United States is one of Indonesia's top trading partners, and Jakarta enjoyed a $25.5 billion ($US16.8 billion) trade surplus with Washington in 2024, according to Indonesian government data. Data from the US trade representative office shows Washington's goods trade deficit with Jakarta was $27.2 billion ($US17.9 billion) in 2024, up 5.4 per cent increase on the year prior. The US-Vietnam deal came a week before the threatened US reimposition of steep tariffs on dozens of economies, including the European Union and Japan. Many countries are still scrambling to reach deals with Washington that would protect them from the measures. Those higher tariffs are part of a package Mr Trump initially imposed citing a lack of "reciprocity" in trading relationships, before announcing a temporary lowering to 10 per cent. Since then, Washington has announced a pact with Britain and a deal to temporarily lower retaliatory duties with China. — Reuters/AFP
