Tourism stocks have been on a one-way trip down. Is it time to buy?
Now – as the uncertainty recedes, somewhat – big investors are scouring the sector hoping to find a bargain. Locally listed travel businesses are also being helped by a surprisingly enduring boom in tourism. Figures published by the Australian Bureau of Statistics show a 20.1 per cent increase in the number of short trips taken in May compared to the same time last year.
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Courier-Mail
an hour ago
- Courier-Mail
ASX lifts as energy sector leads gains
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. 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. Cheery start to the morning The ASX has started the day off with a quiet but positive open, dipping slightly at first before moving into positive territory. At the time of writing, we're up 0.17% in the first hour of trade. Energy is leading gains (+0.74%) alongside healthcare, consumer discretionary, staples and financials. Oil prices jumped 3.5% overnight to US$72.51 a barrel of brent as US President Trump threatened Russia with fresh sanctions should they fail to negotiate a ceasefire with Ukraine. Gold also ticked up 0.4% to US$3324 an ounce and iron ore appreciated 0.3% to US$98.98 a tonne as markets anticipated more thawing in US-China relations ahead of the next round of trade talks. Back on the ASX, the top 7 banks index is providing some support (+0.32%), while the ASX 200 Resources (-0.07%) and All Ords Gold (-0.03%) indices hover in vaguely negative territory and the All Tech retreats -0.76%. WINNERS Code Name Last % Change Volume Market Cap MX1 Micro-X Limited 0.084 35% 668310 $41,366,540 SFG Seafarms Group Ltd 0.002 33% 583466 $7,254,899 SP3 Specturltd 0.016 33% 3536664 $3,802,801 BSA BSA Limited 0.12 33% 4432767 $6,777,023 ECT Env Clean Tech Ltd. 0.0025 25% 4252072 $8,030,871 MOH Moho Resources 0.005 25% 880329 $2,981,656 PIM Pinnacleminerals 0.048 20% 298948 $1,818,533 H2G Greenhy2 Limited 0.019 19% 110000 $11,006,589 IPB IPB Petroleum Ltd 0.007 17% 11020 $4,238,418 M4M Macro Metals Limited 0.007 17% 325588 $23,864,505 In the news... Cold cathode x-ray technology specialist Micro-X (ASX:MX1) has tapped into a nationwide network of 700 hospitals, surgical centres and outpatient facilities with a new supply agreement through a major US healthcare provider, the first of its kind for the company. MX1 will provide its Rover Plus mobile radiology system to interested facilities over an initial agreement period of three years. The company is in discussions with a second major procurement group for a similar supply agreement. Remote surveillance company Spectur (ASX:SP3) increased both total revenue (+10%) and recurring revenue (+20%) year-on-year, bringing in positive operating cash flow of $263k for the financial year. SP3 has been aggressively restructuring in recent months, reducing staff costs from $970k in the third quarter to $715k in the fourth. The company also ramped up R&D spending in a move to upgrade cloud infrastructure and software systems. Pinnacle Minerals (ASX:PIM) is climbing despite launching a $1.76m share placement at $0.04 per share, a more than 25% discount on its intraday trading price of $0.054 a share. PIM is also offering a free attaching option at $0.08 each for every two shares subscribed for. The fresh capital will go to exploration programs at the Adina East project in Quebec next door to several significant lithium projects and Pinnacle's rare earth and heavy mineral sands projects in Australia. LAGGARDS Code Name Last % Change Volume Market Cap SCP Scalare Partners 0.14 -22% 15500 $7,530,304 CZN Corazon Ltd 0.002 -20% 4000000 $2,961,431 JAV Javelin Minerals Ltd 0.002 -20% 3415417 $15,630,562 AMS Atomos 0.005 -17% 31450 $7,290,111 SHE Stonehorse Energy Lt 0.005 -17% 100000 $4,106,610 ENT Enterprise Metals 0.003 -14% 150 $4,799,610 GTR Gti Energy Ltd 0.003 -14% 2271683 $13,029,292 M2R Miramar 0.0035 -13% 242500 $3,987,293 FHS Freehill Mining Ltd. 0.004 -11% 690000 $15,362,341 MPR Mpower Group Limited 0.008 -11% 43068 $3,093,330 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Top 10 at 11: ASX positive after muted open as Micro-X nets first major US supply deal
Perth Now
an hour ago
- Perth Now
What drove inflation to its lowest level in four years?
Headline and underlying inflation figures fell to four-year lows in the June quarter, the Australian Bureau of Statistics revealed on Wednesday, lifting hopes of an upcoming Reserve Bank rate cut. KEY FIGURES * Headline inflation came in at 0.7 per cent in the June quarter, down from 0.9 per cent in the three months to March * Annually, the CPI grew by 2.1 per cent, down from 2.1 per cent in the previous quarter * The trimmed mean, also known as underlying inflation, rose 0.6 per cent over the quarter, down 0.1 per cent * Annually, the trimmed mean rose 2.7 per cent, down from 2.9 per cent in March * The trimmed mean was in line with economist expectations but slightly higher than the RBA's prediction of 2.6 per cent * Annual services inflation fell to 3.3 per cent, the lowest level since June 2022 WHICH ITEMS WERE DRIVING PRICES HIGHER * As households rolled off Commonwealth and state energy rebates, electricity prices surged 8.1 per cent, although this was down from the 16.3 per cent rise in the March quarter * Low supplies of strawberries, blueberries, grapes, tomatoes and cucumbers drove fruit and vegetable prices up 4.3 per cent * The annual increase in private health insurance premiums pushed up medical and hospital services costs, which rose 2.3 per cent * Garments rose 3.5 per cent and footwear stepped up 5.7 per cent, driven by new season stock and a bounce back from New Year sales events WHAT'S PUSHING INFLATION DOWN * Lower global oil prices caused automotive fuel to fall 3.4 per cent * Growth in the cost of building new homes slowed to 0.7 per cent annually, while rents eased to one per cent from 1.2 per cent over the quarter * Insurance costs dropped 0.5 per cent over the quarter - the first fall since March 2019
Perth Now
2 hours ago
- Perth Now
Asian stocks steady as investors brace for tariffs
Asian stocks have risen modestly with investors cautious after trade talks between the US and China ended without any substantive agreement and ahead of the Federal Reserve's policy announcement. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, led by gains for Taiwanese stocks, after US stocks ended the previous session with mild losses as traders braced for a slew of corporate earnings. Australian shares were up 0.7 per cent, while Japan's Nikkei index slid 0.03 per cent and Hong Kong's Hang Seng skidded 0.4 per cent. The euro edged up from a one-month low, rising 0.2 per cent to $US1.1564, as markets weighed the EU's trade deal with the Trump administration. Traders are preparing for several central bank decisions, key economic reports and corporate earnings during the next few days, culminating in US President Donald Trump's August 1 tariff deadline. The Federal Reserve is expected to leave interest rates unchanged at its policy meeting later on Wednesday, though it could see a rare dissent by some central bank officials in favour of lower borrowing costs. "With labour market conditions near full employment, most Fed officials want to wait and see how tariffs impact inflation," said Tom Kenny, senior international economist at ANZ in Sydney. Some officials are concerned that tariffs could drive higher inflation expectations, leading to more persistent price pressures rather than a one-off hit, he said on a podcast. "Our expectation is that the Fed should be in a position to cut rates at the September meeting." US Treasury bonds advanced ahead of the Fed's meeting, pushing yields to the lowest in almost four weeks following a strong auction of seven-year notes that quelled concerns about diminishing demand for government debt. The yield on benchmark 10-year Treasury notes was last 4.328 per cent, the lowest level since July 3. The two-year yield, which rises with traders' expectations of higher Fed fund rates, was little changed at 3.873 per cent. The Bank of Japan is expected to hold steady on Thursday and the focus will be on its comments to gauge when the next rate increase will come after a trade deal between Japan and the US cleared the way for the BOJ to resume its rate-hike path. Ahead of Trump's deadline to reach a deal to avert imposition of the "Liberation Day" tariffs, some countries' talks with the US looked set to go down to the wire. US and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, though no major breakthroughs were announced. US officials said it was up to President Trump to decide whether to extend a trade truce that expires on August 12 or potentially let tariffs shoot back up to triple-digit figures. India is also bracing for higher US tariffs - likely between 20 per cent and 25 per cent - on some exports as it holds off on fresh trade concessions ahead of the August 1 deadline, two Indian government sources said. Meanwhile, three South Korean cabinet-level officials met with US Commerce Secretary Howard Lutnick in a last-ditch push for a deal. Oil prices rose as potential supply shortages came into focus after Trump gave Moscow an abbreviated deadline toward ending the war in Ukraine. Brent crude futures rose 14 cents, or 0.19 per cent, to $US72.65 a barrel. US tech megacaps Microsoft and Meta are due to report earnings on Wednesday that will set the tone for the rest of the week and the earnings season. "It's been a solid US reporting season so far, but these megacap names need to run it hot and blow the lights out, given the bar to please has been sufficiently raised," said Chris Weston, head of research at Pepperstone. The Singapore dollar strengthened 0.2 per cent after Singapore's central bank kept its monetary policy settings unchanged on Wednesday following stronger-than-expected economic growth in the second quarter.
