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News.com.au
4 days ago
- Business
- News.com.au
Top 10 at 11: ASX scales new high as BHP flexes mining muscle
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. ASX follows Wall Street higher Australia's stock market has hit a record high for a second consecutive day in morning trade, taking cues from a strong overnight performance on Wall Street. The S&P 500 gained 0.54% to close at a fresh record — its ninth all-time high this year — while the Nasdaq climbed 0.74% and the Dow Jones rose 0.52%. Investors were buoyed by stronger-than-expected US retail sales, which surged 0.6% in June, well above forecasts for a modest 0.1% increase. In a further sign of resilience in the US economy, jobless claims fell for a fifth straight week to 221,000 — the lowest level in three months. Among standout performers overnight, chipmaker Nvidia rose 1%, lifting its market valuation to a staggering US$4.25 trillion. Streaming giant Netflix rallied 2% after smashing earnings expectations, reporting US$11.1 billion in revenue and earnings of US$7.19 per share. Shares in BHP (ASX:BHP) rose nearly 2% in early trade after the mining heavyweight reported record copper and iron ore production for FY25, landing at the upper end of its annual guidance. Looking ahead, The Big Australian expects more subdued production in FY26 as it navigates key decisions on its multibillion-dollar Jansen potash project, which is facing cost overruns and delays, and its suspended WA nickel operations. Bitcoin is trading just below US$119,600, retreating after hitting an all-time high above US$123,000 earlier this week. The Aussie dollar is hovering around US64.87c, as softer-than-expected jobs data on Thursday fuelled speculation The Reserve Bank of Australia (RBA) could cut interest rates in August. WINNERS Code Name Last % Change Volume Market Cap AS2 Askari Metals 0.014 75% 18,611,624 $3,233,365 AUH Austchina Holdings 0.0015 50% 250,100 $3,025,384 HLX Helix Resources 0.002 33% 1,750,000 $5,046,291 SHP South Harz Potash 0.004 33% 629,273 $3,849,186 DTZ Dotz Nano Ltd 0.04 33% 459,540 $17,761,929 KNG Kingsland Minerals 0.155 29% 114,110 $8,707,309 CTN Catalina Resources 0.005 25% 1,211,003 $9,704,076 MCP McPherson's Ltd 0.33 25% 445,899 $38,146,522 SYR Syrah Resources 0.3525 22% 9,299,462 $302,250,996 FBR FBR Ltd 0.006 20% 7,021,952 $28,447,261 Askari Metals (ASX:AS2) rose 75% in morning trade after reporting high-grade copper in historic drilling results from its newly acquired Nejo Gold Project in Ethiopia. Significant intercepts at the Katta Target include 14.33m at 3.2% copper from 25.3m depth, and 35.51m at 0.82% copper from 152.55m — the latter drilled around 100m down dip. Historic exploration at the Katta 2 Target also identified six copper-bearing gossans, with one mapped over 600m in strike length and up to 30m wide, remaining open along strike and depth. Soil geochemistry highlights a copper anomaly extending more than 2km. Gold was not assayed during this phase of exploration Supplier of well-known essential health, beauty, and wellness products McPhersons (ASX:MCP) is up 25% in morning trade after providing a full-year FY25 trading update and progress on transformation of the business. MCP said FY25 revenue from continuing operations was expected to be in the order of $139 million with estimated underlying EBITDA of ~$7 to $7.5m and four out of five core brands achieving year-on-year revenue growth in challenging trading conditions. The company said FY25 financial year results reflect a year of transitioning from its direct-to-store operating model to a new third-party warehousing and pharmacy wholesaler model, which is now in operation. LOSERS Code Name Last % Change Volume Market Cap VFX Visionflex Group Ltd 0.002 -33% 777,230 $10,103,581 BDM Burgundy D Mines Ltd 0.027 -31% 2,536,308 $55,431,959 EMT Emetals Limited 0.003 -25% 45,000 $3,400,000 PAB Patrys Limited 0.0015 -25% 1,200,200 $4,731,620 BUY Bounty Oil & Gas NL 0.002 -20% 200,000 $3,903,680 CRR Critical Resources 0.004 -20% 334,000 $13,850,427 TON Triton Minerals 0.004 -20% 82,000 $7,841,944 ADG Adelong Gold Limited 0.005 -17% 5,536,666 $13,492,060 GTR Gti Energy Ltd 0.003 -14% 9,000 $12,981,292 TMS Tennant Minerals Ltd 0.006 -14% 30,000 $7,461,233
News.com.au
5 days ago
- Business
- News.com.au
Top 10 at 11: ASX rises 0.49pc as sentiment flips once again
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. ASX flips the script once again It can be a challenge to get a handle on the market's mood these days. On Tuesday, the ASX200 hit a new record closing high, adding more than 0.7% in a single day. Within 24 hours, we'd reversed the vast majority of that progress, down almost 0.8%. This morning, things are looking up again. The ASX 200 has risen 0.49% in the first half hour of trade, gaining broadly across sectors. Financials is leading, adding 0.79% with some strong support from the ASX 200 Banks index (+0.77%), while energy lags 0.05% as the only sector in the red. Both the Australian dollar and gold gained ground against the US dollar overnight during a very volatile US session that saw the S&P500 plunge 1% before recovering about as much to finish up 0.3%. That's set the stage for some stirrings of momentum in the gold and resources indices, which have been struggling in recent days. Let's check out which small caps are making the most of the market recovery. WINNERS Code Name Last % Change Volume Market Cap BP8 Bph Global Ltd 0.003 50% 6618113 $2,101,969 HLX Helix Resources 0.0015 50% 370907 $3,364,194 RPG Raptis Group Limited 0.19 46% 77944 $45,589,031 CCO The Calmer Co Int 0.004 33% 174068 $9,034,060 TOU Tlou Energy Ltd 0.033 27% 3000 $33,763,192 RGL Riversgold 0.005 25% 50000 $6,734,850 VEN Vintage Energy 0.005 25% 2950040 $8,347,655 ADG Adelong Gold Limited 0.006 20% 2395305 $11,243,383 IND Industrialminerals 0.155 19% 25135 $10,441,925 ENV Enova Mining Limited 0.007 17% 1085546 $8,745,600 In the news... BPH Global (ASX:BP8) has bumped up its seaweed sale revenue for the June sales period, lifting total revenue by 17.7% to a little over $177,000. The sales were made to wholesale buyers in Indonesia, with new international contracts already in the pipeline for the July reporting period. Vintage Energy (ASX:VEN) has offloaded its interest in the PEP 171 to Beach Energy (ASX:BPT) in return for $1.25m. At the same time, VEN is launching a suite of production improvement measures at the Odin and Vali gas field. If successful, management estimates an uplift in gas production of between 2.1MMscf/d and 5.6MMscf/d, potentially paying back the cost of the program within three months. Adelong Gold (ASX:ADG) has officially transitioned into gold producer status after achieving first gold pour at the Challenger gold mine in NSW. ADG is celebrating the success of its partnership with project operator Great Divide Mining (ASX:GDM) in reaching this milestone, as the two companies work to realise the value of Challenger's 188,000oz gold bounty. LAGGARDS Code Name Last % Change Volume Market Cap ERL Empire Resources 0.004 -33% 500000 $8,903,479 EEL Enrg Elements Ltd 0.0015 -25% 100001 $6,507,557 SHP South Harz Potash 0.003 -25% 1195668 $5,132,248 SRN Surefire Rescs NL 0.0015 -25% 1035593 $6,457,219 ROG Red Sky Energy. 0.004 -20% 439799 $27,111,136 HIO Hawsons Iron Ltd 0.0165 -18% 3428918 $20,330,027 SWP Swoop Holdings Ltd 0.11 -15% 20156 $27,882,220 ADR Adherium Ltd 0.006 -14% 733942 $9,708,707 ANR Anatara Ls Ltd 0.006 -14% 6575 $1,493,686 EMU EMU NL 0.024 -14% 20459 $5,914,957
