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News.com.au
23-07-2025
- Business
- News.com.au
Closing Bell: ASX jumps 0.69pc as energy and resources do the heavy lifting
Resource stocks fuel market gains again, up 0.96pc 10 of 11 sectors higher as trade deal provides much needed relief ASX now 0.45pc off all-time high ASX surges on iron, gold and trade deals A 2% uptick in iron ore, a more than 1% gain in gold prices and a Japanese-US trade deal have delighted ASX investors. The ASX200 shot up 0.69%, with 10 of 11 sectors climbing. Materials (+1.22%) and energy (+0.83%) put in the hard work, leading the rest of the bourse higher. Headlining gains were our miners. Copper and gold company 29 Metals (ASX:29M) climbed 8.7%, graphite-focused Syrah Resources (ASX:SYR) 8.3%, gold producer Alkane Resources (ASX:ALK) 6.1% and lithium miner Sayona Mining (ASX:SYA) 6.8%. Over in energy, Whitehaven Coal (ASX:WHC) ticked up 6.45%, Woodside (ASX:WDS) added 1.45% and Ampol (ASX:ALD) lifted 3.27%. The banks have also made a recovery after slipping for three trading days straight, with the ASX 200 Banks index climbing 0.86%. Westpac (ASX:WBC) gained 1.42%, Suncorp (ASX:SUN) 0.89% and ANZ (ASX:ANZ) surged 2.5%. Japan and US lock in trade deal As the US dollar and bond yields continue to fall over increasing uncertainty around US President Trump's August 1 tariff deadline, Japan has gotten ahead of the pack. Our northern trade partner has agreed to invest $US550 billion in the US economy and pay a tariff of 15%, according to a Truth Social post by Trump, wherein he also claimed Japan would lower barriers to trade in cars and rice. The meatier details of the deal remain a mystery. Japanese Prime Minister Shigeru Ishiba has been under pressure to resign from his position after his coalition lost the majority in the upper house at the last election. His party suffered a similar defeat in the lower house last year. 'Our overarching concern is the interests of the nation,' Ishiba said. 'We are the first in the world to reduce tariffs on automobiles and auto parts, with no limits on volume,' he told reporters. The Japanese Nikkei225 surged in response to the new trade deal, up 3.5% or 1420 points intraday to a 12-month high. Automakers led the pack. Toyota jumped 15%, Honda 11% and Nissan 9%. "The reduced 15% tariff, down from the previously flagged 25%, is meaningful and should lift sentiment in export-driven sectors, even if the fine print, especially on autos, remains critical,' Saxo Singapore Capital Markets chief investment strategist Charu Chanana said. 'Markets will largely discount the $550 billion FDI headline as political theatre rather than a tradable catalyst. "Strategically, the deal allows Japan to sidestep immediate tariff escalation, while Trump's attention shifts elsewhere." Japan joins a disappointingly small group of countries that have finalised formal trade deals with the US, including the Philippines, Indonesia, the UK, and Vietnam. With just over a week left until the tariff pause expires, the rest of us are running out of time. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap GTE Great Western Exp. 0.02 82% 7677247 $6,245,337 FAU First Au Ltd 0.006 50% 35831194 $8,305,165 HLX Helix Resources 0.0015 50% 64088 $3,364,194 RBR RBR Group Ltd 0.0015 50% 4365000 $3,120,285 LPM Lithium Plus 0.088 40% 664328 $8,368,920 CDE Codeifai Limited 0.025 39% 64354470 $8,494,218 PFM Platformo Ltd 0.076 38% 110 $5,219,957 FIN FIN Resources Ltd 0.004 33% 50000 $2,084,665 ATS Australis Oil & Gas 0.009 29% 13644883 $9,226,437 ADC Acdc Metals Ltd 0.054 29% 33106 $3,140,555 PVW PVW Res Ltd 0.019 27% 552164 $2,983,572 CTO Citigold Corp Ltd 0.005 25% 2046755 $12,000,000 PRX Prodigy Gold NL 0.0025 25% 266666 $12,700,222 WBE Whitebark Energy 0.005 25% 2670365 $2,802,231 OPL Opyl Limited 0.026 24% 2496114 $5,161,135 LKE Lake Resources 0.047 24% 33093708 $68,519,692 AVG Aust Vintage Ltd 0.11 21% 1387426 $29,981,126 AR3 Austrare 0.115 20% 1621941 $20,244,793 ALY Alchemy Resource Ltd 0.006 20% 667502 $5,890,381 AUR Auris Minerals Ltd 0.006 20% 84033 $2,383,130 SKK Stakk Limited 0.006 20% 388668 $10,375,398 INF Infinity Lithium 0.019 19% 1858948 $7,561,473 MKLDB Mighty Kingdom Ltd 0.16 19% 172335 $19,802,807 CR3 Core Energy Minerals 0.013 18% 5806723 $4,343,319 AAM Aumegametals 0.042 17% 1743941 $21,817,825 In the news… Codeifai (ASX:CDE) is building out its AI expertise with the addition of former Nvidia machine learning expert Rafael Possas to its advisory panel. CDE is preparing to double down on its AI and quantum security offerings with the roll out of its QuantumAI Secure platform. Possas was part of the team that built AI assistant Alexa and most recently took up a role as Canva's head of machine learning, and now joins a stacked advisory board full of veterans from OpenAI, WhatsApp and Binance. You can read more about the appointment here. First Au (ASX:FAU) has put drills to ground for a 3000m drilling program at its Nimba Gold Project in Liberia, following up on an extensive field mapping program over a 10 square kilometre area. FAU's main focus is on confirming gold mineralisation around a historical hole drilled by previous explorers, but the program will also investigate new gold targets and look for extensions of potential gold zones. As lithium sentiment improves, Lithium Plus Minerals (ASX:LPM) is putting the final regulatory pieces in place to begin operations at its Lei lithium development project in the Northern Territory. Designed as a direct shipping ore operation in partnership with Canmax Technologies, LPM is gearing up to ship 50% of all DSO spodumene concentrate produced at Lei directly to Canmax, one of China's leading lithium converters. Pilot Energy (ASX:PGY) is poised to formally farm out its extensive offshore Perth Basin exploration acreage permit WA-481P. The ready-to-drill Leander Gas prospect has an estimated 1.1 TCF of gas prospective resources, with pre-existing pipelines/shore-crossing and associated permits already in place. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap SFG Seafarms Group Ltd 0.001 -50% 99072 $9,673,198 PRM Prominence Energy 0.002 -33% 212618 $1,459,411 VEN Vintage Energy 0.004 -33% 9722100 $12,521,482 EEL Enrg Elements Ltd 0.0015 -25% 11785807 $6,507,557 M2R Miramar 0.003 -25% 10974269 $3,987,293 RIM Rimfire Pacific 0.018 -25% 2919216 $60,621,453 SCP Scalare Partners 0.13 -24% 290407 $7,111,954 DYM Dynamicmetalslimited 0.2 -23% 201777 $12,761,928 KGD Kula Gold Limited 0.007 -22% 6259796 $8,291,283 BIT Biotron Limited 0.002 -20% 10000 $3,318,115 LEG Legend Mining 0.008 -20% 6376975 $29,144,772 MTB Mount Burgess Mining 0.004 -20% 3466359 $2,128,192 ANO Advance Zinctek Ltd 0.915 -17% 6274 $68,910,718 AN1 Anagenics Limited 0.005 -17% 4000 $2,977,922 CUL Cullen Resources 0.005 -17% 1692777 $4,160,411 ENT Enterprise Metals 0.0025 -17% 200001 $4,113,952 MBK Metal Bank Ltd 0.01 -17% 266264 $5,969,508 MRD Mount Ridley Mines 0.0025 -17% 20000 $2,335,467 SPQ Superior Resources 0.005 -17% 3700000 $14,225,896 TFL Tasfoods Ltd 0.005 -17% 100000 $2,622,573 ENV Enova Mining Limited 0.006 -14% 3195749 $10,203,200 IPB IPB Petroleum Ltd 0.006 -14% 255842 $4,944,821 LCL LCL Resources Ltd 0.006 -14% 635789 $8,394,800 RC1 Redcastle Resources 0.006 -14% 3300591 $5,204,968 AU1 The Agency Group Aus 0.0215 -14% 44501 $10,989,415 IN CASE YOU MISSED IT A feasibility study for Magnetic Resources' (ASX:MAU) Lady Julie project in WA highlights 'one of the highest margin undeveloped gold projects in Australia'. Asra Minerals' (ASX:ASR) drilling has extended gold mineralisation at Gladstone prospect by 45m below previous intercepts, which could increase the resource footprint. Trading Halts Albion Resources (ASX:ALB) – exploration results from Yandal West Askari Metals (ASX:AS2) – exploration update and ASX queries International Graphite (ASX:IG6) – new graphite facility agreement Kingfisher Mining (ASX:KFM) – acquisition and cap raise Larvotto Resources (ASX:LRV) – cap raise St George Mining (ASX:SGQ) – cap raise Torque Metals (ASX:TOR) – exploration results from Paris Gold Project Vanadium Resources (ASX:VR8) – cap raise At Stockhead, we tell it like it is. While Codeifai is a Stockhead advertiser, they did not sponsor this article.
Reuters
03-07-2025
- Business
- Reuters
Indian stocks gain as U.S. trade talks boost sentiment
July 3 (Reuters) - Indian shares edged higher on Thursday, mirroring gains in broader Asia after a U.S.–Vietnam trade deal and as investors awaited signs of progress on a potential pact between Washington and New Delhi. The Nifty 50 (.NSEI), opens new tab rose 0.4% to 25,555.20 points and the BSE Sensex (.BSESN), opens new tab added 0.41% to 83,752.36 as of 10:30 a.m. IST. Asian shares rose, with MSCI's Asia ex-Japan index (.MIAPJ0000PUS), opens new tab up 0.25%, after U.S. President Donald Trump announced a 20% tariff on Vietnamese exports under a new deal, boosting expectations of further trade breakthroughs. U.S. and Indian trade negotiators were pushing on Wednesday to try to land a tariff-reducing deal, but some disagreements remained unresolved, Reuters reported citing sources. "Sentiment has turned positive after Trump announced an agreement with Vietnam as it signalled an eagerness to strike further trade deals," said Mandar Bhojane, research analyst at Choice Broking. However, analysts flagged the likelihood of bouts of profit booking in the near future. Twelve of the 13 major sectoral indexes gained. The auto index (.NIFTYAUTO), opens new tab led with a 1.1% rise, while small- and mid-cap indexes (.NIFSMCP100), opens new tab and (.NIFMDCP100), opens new tab rose 0.5% each. Heavyweights HDFC Bank ( opens new tab and ICICI Bank ( opens new tab rose 0.7% and 1%, respectively. HDFC Bank's unit and the newly-listed HDB Financial ( opens new tab jumped 4% on Thursday after a 13.6% jump in the debut session on Wednesday. State-run banks (.NIFTYPSU), opens new tab slipped 0.4%, with Punjab National Bank ( opens new tab falling 2.5% after reporting slower loan growth in its June-quarter update. Among other stocks, D-mart operator Avenue Supermarts ( opens new tab lost 3.7% after reporting a moderation in its sales growth in its quarterly business update. Nykaa ( opens new tab slid 4.3%. The Banga family, one of the early investors in FSNE, planned to sell 2% stake via block deal at 5.5% discount to Wednesday's closing price, as per multiple news reports, opens new tab.
Reuters
27-06-2025
- Business
- Reuters
Shares rally but dollar weakens with Fed independence seen under threat
SINGAPORE, June 27 (Reuters) - Asia shares hit their highest level in more than three years on Friday as they tracked a Wall Street rally, though the dollar struggled on concerns about the Federal Reserve's independence and expectations for early rate cuts. Stock indexes worldwide look set to end the week on a positive note, with worries about tensions in the Middle East and uncertainty over tariffs and trade deals on the backburner for now. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab touched its strongest level since November 2021 early in the session. It last traded 0.2% higher and is set to clock a 3% gain for the week. Japan's Nikkei (.N225), opens new tab jumped 1.5% and surpassed the 40,000 mark for the first time in five months. Reasons for the upbeat mood included news that Washington has reached an agreement with Beijing on how to expedite rare earth shipments to the United States. U.S. Treasury Secretary Scott Bessent also said on Thursday that he has asked Republicans in Congress to scrap the Section 899 retaliatory tax proposal from their tax and spending bill after Washington reached an agreement with Group of Seven industrial countries. "That was something that had been making some investors, especially foreign investors, nervous when that provision was passed by the House. So if that provision gets removed, then that allays one of the concerns from foreign investors," said Khoon Goh, head of Asia research at ANZ. "The cumuluation of these various... positive developments all helped to contribute to the buoyant market mood we're seeing." European futures also gained, with EUROSTOXX 50 futures and DAX futures both up 0.6%, while FTSE futures advanced 0.16%. U.S. stock futures were little changed, though Wall Street had on Thursday closed near record highs, further supported by expectations of imminent Fed rate cuts. Much of the focus for markets over the past two sessions has been on the prospect of an early change of guard at the Fed, after the Wall Street Journal reported that U.S. President Donald Trump has toyed with the idea of selecting and announcing Fed Chair Jerome Powell's replacement by September or October. That knocked an already battered dollar even lower as traders fretted about an erosion of Fed independence and as they moved to price in more U.S. rate cuts this year. The dollar languished near a 3-1/2-year low on Friday and was headed for a 1.4% weekly loss, its largest decline in over a month. For the year, the greenback is already down more than 10% and if it stays that way in the next few days, that will mark its biggest first half-of-a-year fall since the start of the era of free-floating currencies in the early 1970s. Against a weaker dollar, the euro was perched near its highest in over three years at $1.1688. Sterling rose 0.03% to $1.3730. "Trump's desire to 'shadow' the Fed using a designated replacement for Chair Jay Powell isn't a good way to promote the perceptions of integrity and autonomy in U.S. policymaking and, by extension, that of the reserve currency status of the U.S. dollar," said Thierry Wizman, global FX and rates strategist at Macquarie Group. Adding to the Fed cut bets has been a raft of weaker-than-expected U.S. economic data, with attention now shifting to Friday's release of the core PCE price index, the U.S. central bank's preferred measure of inflation. U.S. Treasury yields were steady in Asia after falling the previous session, with the two-year yield at 3.7418% and the benchmark 10-year yield last at 4.2554%. In commodities, oil prices were set for a weekly decline with the Iran-Israel ceasefire holding and easing concerns over Middle East supply risks. Brent crude futures were up 0.41% at $68.01 a barrel while U.S. crude rose 0.46% to $65.53 per barrel on Friday, but both were headed for a fall of more than 10% for the week. Spot gold fell 0.23% to $3,320.25 an ounce.
Bloomberg
05-06-2025
- Business
- Bloomberg
Bargain Hunters Scouring For Distressed Sectors May Eye India's Road Developers
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian stocks are positioned for a second day of gains, helped by a risk on tone in Asian markets and a sharp decline in volatility index back home. The prospects of ample rainfall could further boost sentiment, benefiting a host of sectors while helping ease inflationary pressures.
Zawya
16-05-2025
- Business
- Zawya
European shares set to cap strong week on upbeat earnings
SYDNEY/GDANSK - European stocks looked set to cap a strong week with gains on Friday, as upbeat earnings helped sustain the rally sparked by a U.S.-China trade truce, while oil prices remain relatively low, further supporting stocks and bonds. It has been a positive week for global share markets as investors cheered a tariff truce between the United States and China that greatly reduces the risk of a global recession. Europe's STOXX 600 rose 0.57% on Friday, and was up 1.6% on the week, set for its fifth straight week of gains, helped by luxury group Richemont's 7% climb after it reported strong quarterly sales. MSCI's main gauge of Asia-Pacific stocks ex-Japan rose more than 3% this week, and the S&P500 is up 4.5% so far, with futures pointing to further gains at Friday's open. The U.S. data calendar is lighter for the rest of the day, though there will be the University of Michigan consumer sentiment survey and U.S. import prices data for April. However, there was enough uncertainty to keep investors cautious heading into the weekend. "The markets confront a weekend with less risk of carrying open positions than last, with no major trade talks or significant risks on the calendar," said Kyle Rodda, senior analyst at "However, there is always a slight risk-off bias going into the weekend during a Trump presidency, with a nasty downside surprise at the Monday open only ever one social media post away." Oil prices have been choppier this week, rising on the U.S. China deal, before falling sharply on Thursday on increased supply pressure from an OPEC+ output hike and the prospect of an Iranian nuclear deal. Brent futures were down slightly on Friday after a 2% Thursday fall, and were set to end the week just 0.8% higher. Oil prices - low by recent standards - are helping support expectations that inflation is easing, as did U.S. data from Thursday, which did not show any dramatic impact from U.S. tariffs, helping both shares and bonds. U.S. core retail sales were soft and the producer prices fell unexpectedly in April, as markets added to the bets for a total easing of 57 basis points from the Federal Reserve this year, from 49 bps before. "The relief from softer U.S. retail sales and PPI was palpable in the bond market yesterday and overnight," said Kenneth Broux, head of corporate research FX and rates at Societe Generale. "This poured cold water on the (global) bond sell-off and put the brakes on the hawkish repricing of the Fed outlook." The benchmark 10-year Treasury yield fell 4 basis points to 4.41%, extending a 7-bps drop overnight, and euro zone government bond yields also slid. Of course, it might be just a matter of time before the tariff impact starts to show up in the hard data. Walmart , the world's largest retailer, said it would have to start raising prices later this month due to the high cost of tariffs. Lower U.S. yields left currency traders selling the dollar, if not too dramatically. It was last down 0.27% on the yen at 145.3, while the euro was 0.12% higher at $1.1198. In precious metals, gold prices fell 1.23% to $3,200 an ounce, after rallying 2% overnight. For the week, they are down 3.7%.
