There’s a pep to the market’s step today, climbing 1.23pc higher to within touching distance of new highs. Pic: Getty Images.
- ASX surges 1.23pc on broad strength
- 11 of 11 sectors positive throughout trade
- ASX just 0.07pc off all-time high
Market powers higher with all cylinders firing
The ASX moved to its own tune today, making strong gains in the first hour and tap dancing its way through trade to add 1.23%.
We’re now hovering just 0.07% below our last all-time high.
All 11 sectors spent the entire day in the positive, led by consumer discretionary but with strong support from banks and finance stocks.
Wesfarmers (ASX:WES) added 2.8%, Super Retail Group (ASX:SUL) lifted 2.6% and Shaver Shop (ASX:SSG) gained 2%.
There was also strong movement in our top banks, which all lifted somewhere between 2.36% and 0.58%.
Special mentions for QBE Insurance (ASX:QBE) adding 2.36%, NAB (ASX:NAB) up 1.6% and Commonwealth Bank (ASX:CBA) climbing 1.38%.
Alongside the banking index, gold was also surging on continued strength in spot and futures prices.
Kingsgate (ASX:KCN) climbed 7.2%, Turaco Gold (ASX:TCG) 6.8% and West African Resources (ASX:WAF) added 6%.
Rare earth stocks remained buoyant as well. Iluka Resources (ASX:ILU) climbed 8.6%, Arafura Rare Earths (AX:ARU) 8.5% and Victory Metals (ASX:VTM) 8.3%.
ASX LEADERS
Today’s best performing stocks (including small caps):
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| TKL | Traka Resources | 0.002 | 100% | 77244620 | $2,125,790 |
| HMD | Heramed Limited | 0.018 | 50% | 22710594 | $10,507,233 |
| SRJ | SRJ Technologies | 0.006 | 50% | 5293253 | $2,778,987 |
| EOS | Electro Optic Sys. | 4.225 | 43% | 14158184 | $569,208,692 |
| THB | Thunderbird Resource | 0.014 | 40% | 13683520 | $3,897,414 |
| AUK | Aumake Limited | 0.004 | 33% | 145012 | $9,070,076 |
| JAY | Jayride Group | 0.004 | 33% | 4100637 | $4,283,667 |
| DGR | DGR Global Ltd | 0.012 | 33% | 9579430 | $9,393,264 |
| RNT | Rent.Com.Au Limited | 0.032 | 28% | 3294351 | $23,988,928 |
| M4M | Macro Metals Limited | 0.0075 | 25% | 18122124 | $23,864,505 |
| RDS | Redstone Resources | 0.005 | 25% | 5767981 | $4,137,069 |
| SIS | Simble Solutions | 0.005 | 25% | 1000000 | $4,329,321 |
| RHY | Rhythm Biosciences | 0.098 | 23% | 1808718 | $22,726,450 |
| MEG | Megado Minerals Ltd | 0.039 | 22% | 293144 | $20,661,864 |
| FAL | Falconmetalsltd | 0.595 | 21% | 3629807 | $87,003,080 |
| TRP | Tissue Repair | 0.34 | 21% | 257149 | $16,930,156 |
| FRS | Forrestaniaresources | 0.205 | 21% | 2559019 | $52,918,438 |
| ALR | Altairminerals | 0.006 | 20% | 83302480 | $21,483,721 |
| CUL | Cullen Resources | 0.006 | 20% | 250328 | $3,467,009 |
| MTB | Mount Burgess Mining | 0.006 | 20% | 830883 | $2,128,192 |
| SLZ | Sultan Resources Ltd | 0.006 | 20% | 2102113 | $1,305,418 |
| GBE | Globe Metals &Mining | 0.073 | 18% | 195000 | $43,068,487 |
| WTM | Waratah Minerals Ltd | 0.465 | 18% | 4579539 | $92,237,345 |
| CCP | Credit Corp Group | 17.81 | 17% | 1216473 | $1,038,700,223 |
| LCL | LCL Resources Ltd | 0.007 | 17% | 1226420 | $7,195,543 |
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In the news…
Asset maintenance specialist SRJ Technologies (ASX:SRJ) is trading higher despite closing out a $1.38m entitlement offer at a 22.7% discount to its 10-day VWAP of $0.005.
The funding will support SRJ’s entry into a 50:50 joint venture with a NOC-registered entity to deliver a multi-year contract valued at US$6m in the Middle East.
Medical data firm Heramed (ASX:HMD) has been reinstated to the ASX after lodging a late quarterly activity report alongside notice of a $1.98m share placement.
Management says the healthcare landscape in the US is beginning to improve as concerns over changing policy and funding settle and the sector adapts. HMD has teamed up with US healthcare commercialisation firm Aspire Health Innovations to spearhead its market strategy in North America.
Electro Optic Systems (ASX:EOS) has nabbed a EUR 71.4 million contract with a European NATO member for its new anti-drone laser weapon system. It’s a world first for a laser of its power, slated for delivery sometime between now and 2028.
Macro Metals (ASX:M4M) has locked in commitments to raise $2m in a placement priced at 0.7c per new share, a 16.67% premium to M4M’s last closing price.
Funding will fuel the third phase of field work at the Turner iron ore project and a technical services contract with REGROUP at the Extension iron ore project.
It will also support tendering of mining services contracts within M4M’s Macro Mining Services segment and the company’s two majority-indigenous owned joint ventures, Nyapiri Macro Mining and Robe River Kuruma Macro Mining.
ASX LAGGARDS
Today’s worst performing stocks (including small caps):
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| LNR | Lanthanein Resources | 0.001 | -50% | 5436332 | $7,468,003 |
| HCD | Hydrocarbon Dynamics | 0.002 | -33% | 694511 | $3,234,328 |
| MEL | Metgasco Ltd | 0.002 | -33% | 93088 | $5,511,260 |
| TMX | Terrain Minerals | 0.002 | -33% | 250689 | $7,595,443 |
| BLZ | Blaze Minerals Ltd | 0.003 | -25% | 8726540 | $7,113,856 |
| CHM | Chimeric Therapeutic | 0.003 | -25% | 2759296 | $12,996,494 |
| M2R | Miramar | 0.003 | -25% | 1251217 | $3,987,293 |
| NTM | Nt Minerals Limited | 0.0015 | -25% | 2258226 | $2,421,806 |
| ROG | Red Sky Energy. | 0.003 | -25% | 754800 | $21,688,909 |
| SRN | Surefire Rescs NL | 0.0015 | -25% | 17000000 | $6,457,219 |
| ARV | Artemis Resources | 0.004 | -20% | 1661876 | $14,328,361 |
| AVE | Avecho Biotech Ltd | 0.004 | -20% | 165061 | $15,867,318 |
| BUY | Bounty Oil & Gas NL | 0.002 | -20% | 9245 | $3,903,680 |
| CYQ | Cycliq Group Ltd | 0.004 | -20% | 1362117 | $2,302,583 |
| ERA | Energy Resources | 0.002 | -20% | 235000 | $1,013,490,602 |
| EDEDA | Eden Inv Ltd | 0.039 | -19% | 178240 | $9,863,714 |
| NSB | Neuroscientific | 0.19 | -17% | 1568877 | $76,492,412 |
| LMS | Litchfield Minerals | 0.1 | -17% | 44518 | $3,485,527 |
| AOK | Australian Oil. | 0.0025 | -17% | 262581 | $3,113,349 |
| ECT | Env Clean Tech Ltd. | 0.0025 | -17% | 3344164 | $12,046,306 |
| FAU | First Au Ltd | 0.005 | -17% | 9802573 | $12,457,748 |
| OLY | Olympio Metals Ltd | 0.105 | -16% | 304471 | $12,883,412 |
| MCM | Mc Mining Ltd | 0.115 | -15% | 94115 | $86,898,445 |
| AM5 | Antares Metals | 0.006 | -14% | 209500 | $3,603,970 |
| JNS | Januselectricholding | 0.12 | -14% | 1022165 | $12,700,948 |
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IN CASE YOU MISSED IT
Nimy Resources (ASX:NIM) is aligning with US advisory group M2i Global to unlock funding opportunities and drive international growth.
Investors have demonstrated their confidence in Perpetual Resources (ASX:PEC) by firmly backing a $1.6m placement to accelerate exploration for lithium and caesium in Brazil.
Prospect Resources (ASX:PSC) has hit up to 1.1% copper in second phase drilling at the Nyungu Central deposit within its Mumbezhi copper project in Zambia.
Silver Mines (ASX:SVL) has raised $30m through a strongly supported placement and will launch a share purchase plan to raise up to an additional $3m.
A merger that would create North America’s largest hard rock lithium producer is at risk, with Piedmont Lithium (ASX:PLL) urgently trying to track down retail investors across regional Australia.
Koonenberry Gold (ASX:KNB) has completed induced polarisation geophysics that identified six high-priority drill targets along the Sunnyside Shear Zone in NSW.
Many Peaks Minerals (ASX:MPK) is ramping up exploration at its Cote d’Ivoire gold projects, reporting hits of up to 3.17g/t at Odienné and expanding drilling at Ferké.
Rumble Resources (ASX:RTR) is set to unlock significant critical minerals value at its Western Queen project, confirming a major tungsten system.
Trading halts
Adslot Ltd (ASX:ADS) – cap raise
IDT Australia Ltd (ASX:IDT) – change in management
Lindian Resources Ltd (ASX:LIN) – funding & offtake agreement
Trigg Minerals Ltd (ASX:TMG) – pending acquisition & price/volume query
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.