CSL drags Healthcare sector lower this morning. Pic via Getty Images
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The ASX 200 started the morning flattish, as a big drop in the Healthcare sector was offset by gains in Real Estate and Energy sectors.
Earnings season is now in full swing as heavyweight CSL (ASX:CSL) dropped 4%, dragging down the Health sector after releasing its full-year earnings and guidance for next financial year.
For FY24, CSL reported an 11% rise in revenue to US$14.8 billion, and a 15% increase in NPATA to US$3.01 billion.
CSL also says its revenue in FY25 is expected to grow by approximately 5% to 7% over FY24, which might have disappointed investors.
Wealth management leader Challenger (ASX:CGF) saw its shares surge by 6.5% following a 10% increase in its fully franked dividend, which is now 26.5¢.
Online recruitment company Seek (ASX:SEK) tumbled 8% after reporting a decline in job advertisements across the region, impacting its bottom line.
Gold stocks were mostly higher today after bullion rose overnight and remains in touching distance of its all-time high.
Energy stocks, meanwhile, were boosted after a 3% jump in oil prices overnight, driven by concerns that an expanding conflict in the Middle East could tighten global oil supplies.
This comes as the US Defence Department announced over the weekend that it will deploy a guided missile submarine to the region in anticipation of potential attacks on Israel by Iran and its allies.
Among oil stocks that lifted this morning were Woodside (ASX:WDS) and Santos (ASX:STO).
The best mover this morning, however, was online retailer Temple & Webster (ASX:TPW), which surged 27% following the announcement of a record revenue of $498 million for FY24, marking a 26% increase from the previous year.
Overnight, US stocks struggled for direction as traders awaited inflation data, with recent geopolitical events also dampening risk-taking.
The S&P 500 closed the day flat, the blue chips Dow Jones was down 0.36%, while the tech-heavy Nasdaq rose by 0.21%.
Investors are holding off from making big bets as they wait for data about inflation and the state of the US economy.
Nomura and Morgan Stanley both expect US core inflation to rise slowly. However, if the data turns out differently, it could lead to significant market movements.
“Volatility could return this week,” said Solita Marcelli at UBS Global Wealth. “If inflation is too low, this may heighten concerns that the US may be heading for a recession.”
Here are the best performing ASX small cap stocks for 13 August [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| JAV | Javelin Minerals Ltd | 0.0015 | 50% | 1,000 | $4,276,846 |
| ASQ | Australian Silica | 0.03 | 36% | 6,833 | $6,200,928 |
| SHO | Sportshero Ltd | 0.004 | 33% | 290,000 | $1,853,499 |
| TPW | Temple & Webster Ltd | 12 | 26% | 744,224 | $1,127,675,669 |
| CTO | Citigold Corp Ltd | 0.005 | 25% | 108,911 | $12,000,000 |
| OVT | Ovanti Limited | 0.005 | 25% | 100,200 | $6,090,422 |
| RLG | Roolife Group Ltd | 0.005 | 25% | 1,000,000 | $3,176,585 |
| TX3 | Trinex Minerals Ltd | 0.0025 | 25% | 464,719 | $3,657,305 |
| AD1 | AD1 Holdings Limited | 0.006 | 20% | 1,958,390 | $4,493,242 |
| VML | Vital Metals Limited | 0.003 | 20% | 80,000 | $14,737,667 |
| ORA | Orora Limited | 2.255 | 18% | 10,008,845 | $2,559,367,384 |
| IPB | IPB Petroleum Ltd | 0.007 | 17% | 8,367,324 | $4,238,418 |
| VAR | Variscan Mines Ltd | 0.007 | 17% | 80,000 | $2,568,002 |
| GC1 | Glennon SML Co Ltd | 0.46 | 16% | 2,391 | $18,841,641 |
| NVA | Nova Minerals Ltd | 0.15 | 15% | 86,128 | $31,662,395 |
| LTP | LTR Pharma Limited | 1.11 | 15% | 1,984,841 | $81,821,433 |
| TER | Terracom Ltd | 0.23 | 15% | 5,559,321 | $160,193,247 |
| ZNC | Zenith Minerals Ltd | 0.047 | 15% | 26,306 | $14,447,616 |
| 1AI | Algorae Pharma | 0.008 | 14% | 132,630 | $11,811,763 |
| NRZ | Neurizer Ltd | 0.004 | 14% | 1,170,000 | $7,597,096 |
| WNR | Wingara Ag Ltd | 0.008 | 14% | 500,000 | $1,228,798 |
| SNS | Sensen Networks Ltd | 0.034 | 13% | 154,336 | $23,337,262 |
| MEK | Meeka Metals Limited | 0.051 | 13% | 3,470,653 | $55,561,902 |
| FML | Focus Minerals Ltd | 0.13 | 13% | 43,192 | $32,954,244 |
| SRJ | SRJ Technologies | 0.07 | 13% | 22,172 | $9,876,255 |
Packaging giant Orora (ASX:ORA) saw its share price lift 18% in morning trade after announcing it had rejected a $2.55/share takeover offer by US private equity group Lone Star, describing it as “opportunistic” and “conditional”.
“The board, together with its advisers, carefully considered the indicative proposal and determined that it is not in the best interests of its shareholders to further engage with Lone Star on the basis of the indicative proposal, which materially undervalues Orora,” ORA says in an ASX announcement.
Variscan Mines (ASX:VAR) is up 17% after announcing it has appointed Square Trading as its exclusive marketing manager for the worldwide sale of zinc concentrates from its Novales-Udias and Guajaraz Projects in Spain.
VAR says Square Trading will also assist the company to secure third party financing to construct and operate the mines it is developing. Square Trading is a shareholder in Zinc GroupCo, which is VAR’s largest shareholder.
LTR Pharma (ASX:LTP) is up 25% today after announcing it has entered a co-development agreement with Aptar Pharma for Spontan, its nasal spray treatment for erectile dysfunction (ED).
LTP says the deal will combine LTP’s pharmaceutical development capabilities with Aptar Pharma’s expertise in nasal spray technology, supporting a streamlined regulatory pathway and market access for Spontan.
Here are the most-worst performing ASX small cap stocks for 12 August [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| 88E | 88 Energy Ltd | 0.002 | -33% | 1,895,905 | $86,801,436 |
| ADD | Adavale Resource Ltd | 0.002 | -33% | 2,969,697 | $3,634,296 |
| DDT | DataDot Technology | 0.003 | -25% | 5,532 | $4,843,811 |
| GTR | Gti Energy Ltd | 0.003 | -25% | 1,943,574 | $10,199,788 |
| WML | Woomera Mining Ltd | 0.003 | -25% | 1,425,000 | $4,872,556 |
| WIN | WIN Metals | 0.021 | -19% | 411,326 | $8,578,430 |
| ICL | Iceni Gold | 0.044 | -17% | 566,650 | $14,456,336 |
| FHS | Freehill Mining Ltd. | 0.005 | -17% | 116,000 | $18,471,167 |
| HHR | Hartshead Resources | 0.005 | -17% | 8,240 | $16,852,093 |
| PFE | Panteraminerals | 0.023 | -15% | 78,900 | $10,233,721 |
| AL8 | Alderan Resource Ltd | 0.003 | -14% | 889 | $3,874,015 |
| ATH | Alterity Therap Ltd | 0.003 | -14% | 727,000 | $18,621,176 |
| GTI | Gratifii | 0.006 | -14% | 166,666 | $12,292,334 |
| LNR | Lanthanein Resources | 0.003 | -14% | 101,525 | $8,552,726 |
| MRQ | Mrg Metals Limited | 0.003 | -14% | 3,000,000 | $9,490,315 |
| EVG | Evion Group NL | 0.025 | -14% | 67,350 | $10,061,932 |
| PLL | Piedmont Lithium Inc | 0.1125 | -13% | 1,940,167 | $53,189,071 |
| CXM | Centrex Limited | 0.033 | -13% | 48,976 | $32,571,811 |
| ZAG | Zuleika Gold Ltd | 0.014 | -13% | 1,189,609 | $11,854,079 |
| CBY | Canterbury Resources | 0.036 | -12% | 803,655 | $8,095,077 |
| PFT | Pure Foods Tas Ltd | 0.022 | -12% | 155,222 | $3,052,307 |
| SER | Strategic Energy | 0.015 | -12% | 6,800 | $11,373,567 |
| AS2 | Askarimetalslimited | 0.023 | -12% | 914,210 | $2,549,824 |
| HVY | Heavymineralslimited | 0.115 | -12% | 140,311 | $8,614,578 |
| ARV | Artemis Resources | 0.008 | -11% | 552,877 | $17,251,942 |
Killi Resources (ASX:KLI) will next week start diamond drilling at the new Kaa epithermal gold-copper target within its wholly-owned Mt Rawdon West project in Queensland.
Rock chip sampling had returned high-grade gold and copper results of 238g/t gold, 2.1% copper and 513g/t silver, indicating that the 1.8km long Kaa prospect is a new, previously unrecognised epithermal mineral system.
The company plans to drill five holes to test sulphide targets from the induced polarisation survey and beneath the high-grade rock chips.
“We are excited to have reached this point with the drill rig mobilising to the project. This campaign will be the first holes ever at the target, and we look forward to reporting on the drilling starting next week,” chief executive officer Kathryn Cutler said.
QMines (ASX:QML) has commenced drilling at its Develin Creek project in Queensland, focusing on resource definition drilling at the existing Sulphide City and Scorpion resources.
The program aims to improve confidence in the existing resource and convert the largely inferred resource to the indicated and measured JORC categories.
This drilling program will also meet contractual requirements for the acquisition of the remaining 49% interest in the project.
Vertex Minerals (ASX:VTX) has raised $3.8m through a placement of shares priced at 8c each to institutional and sophisticated investors to advance its Reward gold mine in the famous Lachlan Fold Belt into production.
At Stockhead, we tell it like it is. While Killi Resources, QMines and Vertex Minerals are Stockhead advertisers, they did not sponsor this article.
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