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News.com.au
14-07-2025
- Business
- News.com.au
Closing Bell: ASX ends down just 0.11pc after seesawing through trade
ASX walks tightrope to slide just 9.7 points All Ords gold sub-index climbs 1.87pc Iron ore prices boost big cap mining stocks ASX slides on renewed tariff threats The ASX 200 finished the day down 0.11%, having plunged a good 20 points in the first hour. The bourse staged a midday recovery to touch an intraday high of 8592 points before hawing and hemming through trade, finishing 9.7 points lower at 8570.4. It was a tale of competing global powers, with new tariff threats from Trump's White House warring with a positive start to a green steel forum between Australian and Chinese companies. The iron ore price has been heading back in the direction of US$100/t despite the tariff uncertainty, buoying Aussie miners who eat the red dirt for breakfast. Fears over economic fallout from a freshly minted 30% tariff on goods from Mexico and the EU (starting August 1) appear to have won out today. Of our 11 sectors, 7 are down. Only energy (+0.54%), materials (+0.53%), telecoms (+0.30%) and real estate (+0.10%) made headway. Taking a squizz at our indices for the day, the ASX 200 Resources performed well, up 0.80%. It was supported by a buoyant gold index, which climbed 1.87%. Is TACO a self-defeating prophecy? The market reaction to the new tariffs has been fairly muted overall. The idea that President Trump will usually back down from these sorts of policies has taken root in trader sentiment, dampening alarmist sentiment. Capital Economics chief North America economist Paul Ashworth is concerned that very assumption could give Trump the confidence to follow through. "The lack of reaction to this week's tariff déjà vu is presumably because Trump now has a reputation for backing down from his aggressive tariff threats," Ashworth noted over the weekend. "But that creates a dangerous circularity, since the main reason Trump was forced to shelve his Liberation Day plans originally was because of the sell-off in not only the equity market but the Treasury market too. 'Without that pressure, Trump may feel more emboldened to follow through this time, particularly since up to now at least tariffs appear to have had little impact on final consumer goods prices and claims the economy would be plunged into recession have been proven wrong.' PM hails 'successful' green steel roundtable Prime Minister Anthony Albanese has described a green steel roundtable discussion between Australian and Chinese stakeholders as 'very successful' as he spoke to reporters following the meeting. While the Prime Minister has indicated he believes industry should take the lead in building stronger trade relations within the green steel sector, Albanese has signalled the government will support those efforts. 'What we need are enabling policy environments, extensive investments in research to develop new technologies and collaboration across academia, industry and government,' the Prime Minister said in his roundtable address. 'Australia and China each have major stakes in how the decarbonisation efforts develop. 'As both countries cooperate to advance decarbonisation, we also need to work together to address global excess steel capacity. 'It is in both countries' interests to ensure a sustainable and market-driven global steel sector.' The Prime Minister was joined by executives from the top steel players in both China and Australia, including CEOs from Rio Tinto (ASX:RIO), BHP (ASX:BHP) and Fortescue (ASX:FMG). 'Rio Tinto is working closely with our Chinese customers to support the development of low-carbon steelmaking technologies, leveraging Australia's high-quality iron ore and China's manufacturing expertise to drive real progress on emissions reduction,' Rio Tinto CEO Kellie Parker said. Spot prices for iron ore climbed 0.5% over the last 5 trading days to touch US$96.71 a tonne on Friday, adding another 2.9% to reach US$99.60 a tonne today. Most of our larger iron ore companies have responded as expected – Rio Tinto has added 0.77%, BHP 1.1% and Mineral Resources (ASX:MIN) 1.78%, but Fortescue slid 0.65% lower. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap ICU Investor Centre Ltd 0.002 100% 351624 $304,511 OSX Osteopore Limited 0.016 60% 37758327 $1,830,431 EEL Enrg Elements Ltd 0.0015 50% 484000 $3,253,779 GMN Gold Mountain Ltd 0.003 50% 3217402 $11,239,518 BM1 Ballardmininglimited 0.37 48% 8146212 $45,922,302 NVQ Noviqtech Limited 0.038 46% 3591198 $6,539,950 ODA Orcoda Limited 0.088 35% 294298 $12,188,424 LOC Locatetechnologies 0.175 35% 1612899 $30,440,054 BLZ Blaze Minerals Ltd 0.004 33% 200050 $5,335,392 CRR Critical Resources 0.004 33% 29591322 $8,310,256 RCMDB Rapid Critical 0.032 33% 186979 $2,489,889 SFG Seafarms Group Ltd 0.002 33% 36752 $7,254,899 SHP South Harz Potash 0.004 33% 2409259 $3,849,186 AMS Atomos 0.005 25% 532130 $4,860,074 MOH Moho Resources 0.005 25% 25080 $2,981,656 MRD Mount Ridley Mines 0.0025 25% 20343 $1,556,978 PRX Prodigy Gold NL 0.0025 25% 1019762 $6,350,111 RNX Renegade Exploration 0.005 25% 15055892 $5,153,454 SPQ Superior Resources 0.005 25% 2119999 $9,483,931 TMK TMK Energy Limited 0.0025 25% 11732049 $20,444,766 WBE Whitebark Energy 0.005 25% 10090 $2,802,231 CC5 Clever Culture 0.021 24% 4757288 $30,032,035 WCE Westcoastsilver Ltd 0.1 23% 2478393 $21,069,799 PRS Prospech Limited 0.022 22% 107518 $6,818,866 CMP Compumedics Limited 0.305 22% 146188 $48,054,474 Making news... Osteopore (ASX:OSX) products will soon hit Swiss shelves, after both its custom-made and off-the-shelf 3D printed cranial implants got the green light under European Union Medical Device Regulation. The tick of approval clears the way to roll out the full suite of biomimetic and bioresorbable implants in Switzerland and the greater European market. Smart transport company Orcoda (ASX:ODA) has locked in multiple SaaS contracts with community transport providers across Australia, following a successful federal government trial of its transport software. With an initial 3-year term, ODA expects the new deals to generate $1 million in incremental revenue. Between the new contracts and upgrades to existing agreements, the company is forecasting an overall annual recurring revenue of about $5m, representing a 23% year-on-year growth in ARR. Also moving within the software-as-a-service space, Locate Technologies (ASX:LOC) has activated its at-the-market facility agreement with Novus Capital to raise just under $169k within a larger capital raising. That brings LOC's total proceeds to just over $1.4m, at an average issue price of $0.161. Clever Culture (ASX:CC5) has deepened its relationship with pharmaceutical giant Novo Nordisk through a new purchase order for an APAS Independence instrument. The European biotech behemoth is looking at the potential benefits of integrating CC5's APAS technology into its manufacturing network, particularly focusing on the 90mm and contact plate analysis modules for the reading of culture plates used in pharmaceutical environmental monitoring. Compumedics (ASX:CMP) has lifted its yearly sales by 22% compared to the 2024 FY, raking in $63.4m in sales orders. Management says the strong sales numbers are a result of building a more predictable, high-margin business model and a resulting increase in revenue, better margins, and meaningful traction in the US and beyond. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap MIOR Macarthur Minerals 0.001 -50% 20000 $199,666 FTC Fintech Chain Ltd 0.002 -33% 541727 $1,952,309 GGE Grand Gulf Energy 0.002 -33% 1200109 $8,461,275 TYX Tyranna Res Ltd 0.003 -25% 2756275 $13,153,701 PPY Papyrus Australia 0.008 -24% 343749 $6,013,158 BUY Bounty Oil & Gas NL 0.002 -20% 71211 $3,903,680 CUL Cullen Resources 0.004 -20% 681 $3,467,009 TNY Tinybeans Group Ltd 0.105 -19% 72778 $19,228,357 OAK Oakridge 0.065 -19% 4304 $2,159,833 HWK Hawk Resources. 0.018 -18% 1118843 $5,960,448 PFE Pantera Lithium 0.019 -17% 11551323 $10,897,025 1AI Algorae Pharma 0.005 -17% 18150 $10,124,368 AUK Aumake Limited 0.0025 -17% 50000 $9,070,076 AYT Austin Metals Ltd 0.0025 -17% 609756 $4,752,574 BNL Blue Star Helium Ltd 0.005 -17% 281896 $16,169,312 MSG Mcs Services Limited 0.005 -17% 600000 $1,188,598 PRM Prominence Energy 0.0025 -17% 24999 $1,459,411 SLZ Sultan Resources Ltd 0.005 -17% 21000 $1,388,819 ADO Anteotech Ltd 0.011 -15% 4358483 $35,168,904 PGY Pilot Energy Ltd 0.011 -15% 17598202 $28,062,580 RMI Resource Mining Corp 0.017 -15% 1513958 $14,689,067 ADY Admiralty Resources. 0.006 -14% 22640 $18,406,356 KGD Kula Gold Limited 0.006 -14% 1625905 $6,448,776 SHO Sportshero Ltd 0.025 -14% 1289885 $21,211,936 ATG Articore Group Ltd 0.195 -13% 179152 $64,027,997 IN CASE YOU MISSED IT Trigg Minerals (ASX:TMG) has defined an exploration target of 12.8 to 15.6 million tonnes at 0.75% to 1.5% antimony for the Antimony Canyon Project in Utah. Asra Minerals (ASX:ASR) will launch a 3000m RC drilling program this week at its Leonora South gold project, targeting the Challenge and Eclipse prospects. Following a $30 million raise, Ballard Mining (ASX:BM1) begins ASX trading with plans to undertake 130,000m of drilling in gold quest at Mt Ida. BM1 closed 48% up on its 25c IPO price. Tunsgten Mining (ASX:TGN) will integrate early oxide gold extraction into development plans for Mt Mulgine, de-risking access to the tungsten ore body. With silver demand forecast to reach a record 680Moz in 2025, Lithium Universe (ASX:LU7) has chosen to prioritise silver recovery using its recently acquired solar panel recycling technology. St George Mining (ASX:SGQ) has begun drilling at the Araxá project in Brazil, looking to add to the 40.64 million tonnes at 4.13% TREO resource. WA rare earths play Victory Metals (ASX:VTM) will gain access to the corridors of power in the Pentagon as it chases funding and support for its North Stanmore project. TRADING HALTS At Stockhead, we tell it like it is. While Clever Culture and Compumedics are Stockhead advertisers, they did not sponsor this article.
The Herald Scotland
09-07-2025
- Business
- The Herald Scotland
US stock futures mixed after Trump unveils tariffs, extends deadline
Earlier, Trump also threatened an additional 10% tariff on countries that align with the "Anti-American policies" of the BRICS nations which include Brazil, Russia, India and China. "If none of these 14 countries manage to seal a preliminary trade deal (and assuming Trump doesn't delay implementation for another month) then the effective tariff rate on U.S. imports would rise from 15.5% to 17.3%," said Paul Ashworth, chief North America economist at Capital Economics, in a note. "That would push it even further above 20 century norms - it was 2.5% last year - but given the very muted impact of tariffs on U.S. consumer prices up to now and that the tariff revenues are now being recycled thanks to the Republican Megabill that Congress just passed, the fallout should be manageable." Economists also noted the European Union, India, Taiwan, Brazil, Turkey and Australia didn't receive tariff letters. Some speculated that these countries could be close to deals. European Commissioner Olof Gill said earlier the EU still aimed for a deal by the July 9 deadline. At 6:05 a.m. ET, futures linked to the blue-chip Dow fell -0.16%, while broad S&P 500 futures added 0.03% and tech-laden Nadaq futures rose 0.18%. Cryptocurrency Tesla chief executive Elon Musk said his new America Party will support bitcoin. Separately, Nasdaq-listed real estate firm Murano said it bought 21 bitcoin recently as it begins to accumulate bitcoin. It also entered an equity agreement of up to $500 million with funds primarly to be buy bitcoin. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Wall Street Journal
03-07-2025
- Business
- Wall Street Journal
Gold Edges Higher Amid U.S. Fiscal-Deficit Concerns
2342 GMT — Gold edges higher in the early Asian session amid U.S. fiscal-deficit concerns that typically enhance the safe-haven appeal of the precious metal. The House of Representatives narrowly passed President Trump's 'big, beautiful' tax and spending megabill on Thursday. 'After factoring in the additional revenues from new tariffs, it appears that the budget deficit will remain close to 6% of GDP for the next few years,' Capital Economics' Paul Ashworth says in a commentary. 'The Federal debt is undoubtedly on an unsustainable path,' the chief North America economist adds. Spot gold is 0.2% higher at $3,330.85/oz. (
Yahoo
29-05-2025
- Business
- Yahoo
Stock futures higher after court blocks Trump's reciprocal tariffs
U.S. stock futures are higher after the Federal Court of International Trade blocked President Donald Trump's reciprocal tariffs. Trump has overstepped in invoking the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs, the court said. Trump also was wrong to use trade deficits as a justification for declaring a national emergency, it said. The Justice Department quickly filed an appeal. Ultimately, the Supreme Court could end up deciding the case. AT 6:55 a.m. ET, futures tied to the blue-chip Dow added 0.55%, while broad S&P 500 futures rose 1.15% and tech-heavy Nasdaq futures jumped 1.67%. "The ruling will obviously throw into disarray the administration's push to quickly seal trade 'deals' during the 90-day pause from tariffs that have now been declared to be illegal," wrote Paul Ashworth, chief North America economist at Capital Economics, in a note. "Other countries will wait and see whether a higher court is willing to reverse this ruling." Nvidia's results from the first three months of its fiscal year topped analysts' estimates, even with U.S. export curbs on China. "In our view, Nvidia remains the premier artificial intelligence stock and the dominant leader in GPUs." said Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report. GPUs, or graphics processing units, are processors that handle complex calculations needed to render images and videos, especially those with 3D graphics. results in the last three months of its fiscal year topped analysts' forecasts. Salesforce topped Street predictions for fiscal first-quarter results. The sales and customer service software maker also boosted its full-year outlook. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: Stock futures higher after court blocks Trump's reciprocal tariffs Sign in to access your portfolio
Wall Street Journal
08-05-2025
- Business
- Wall Street Journal
Economists Welcome U.S.-U.K. Agreement for Signal Rather Than Substance
Economists welcomed the Trump administration's agreement on trade with the U.K. Thursday, describing it as a positive sign of U.S. flexibility on trade which both sides can tout as a win. Still, the U.K. is a relatively minor player in U.S. trade, and under the deal, the 10% tariff the U.S. imposed against U.K. goods will remain in place. Paul Ashworth, an economist at Capital Economics, said the details announced Thursday were vague, and 'along with the push to get trade talks with China underway too this weekend, this rush to demonstrate progress on 'deals' reveals a rising desperation within the administration to roll back tariffs before they hit GDP growth and inflation.'
