Closing Bell: ASX inches up as markets bet on Fed rate-cut hype
Smell that? That’s the scent of cheap capital on the air, and our rate-sensitive sectors are ready to cash in. Pic: Getty Images
- ASX gains 0.41pc on broad sector strength
- Info tech, energy, finance power higher
- Rare earths, copper, gold stocks retreat
ASX trends toward record highs
The ASX 200 added 36 points or 0.41% today, trending back toward all-time highs and less than 50 points from our last closing record.
It was a team effort, with eight of 11 sectors on the up and one pretty much dead flat.
US CPI came in at 0.3% vs the expected 0.4% lift, giving the final green light to the US Fed’s next interest rate cut.
Market futures on the decision have gone from 97% to absolute certainty, and our finance sector is revving higher in response.
The major banks are all up today, adding between 0.57% and 0.76% and lifting the broader ASX 200 Banks index 0.67%.
Real estate is also making bank on anticipation of cheaper debt, while energy lifts on a recovering oil price and info tech follows the Nasdaq toward new highs.
The resources sector is having a much more mixed day of trade. Gold is still finding its feet after the last rally, applying downward pressure to gold stocks. The XGD dipped just 0.06% today.
The China-US trade deal, which delayed Chinese restrictions on certain rare earth exports until next year, has also flipped the script on rare earth companies.
Profit-taking has cut the legs out from under Lindian Resources (ASX:LIN), Northern Minerals (ASX:NTU) and Arafura Rare Earths (ASX:ARU) which are all down between 23.81% and 9.64%.
The larger rare earth stocks haven’t dodged the axe either – Lynas (ASX:LYC) is down 2.31% today while Iluka Resources (ASX:ILU) slid 6.74%.
By the same token, mineral processing stocks that soared on news of China’s REE ban are copping a haircut too. Sunrise Energy Metals (ASX:SRL) fell 11.33% while Metallium (ASX:MTM) slid 10.35%.
Large caps on the move
With the month of October drawing to a close, both US and Australian companies are fielding their quarterly reports.
A raft of gold companies put their best foot forward this morning – you can read more about their results in our Lunch Wrap.
As for the afternoon’s offering…
Elsight (ASX:ELS) started the reporting period off with a bang after dialling up quarterly revenue to its highest point ever, a massive 1,804% increase.
ELS pulled US$8.7 million in the third quarter of CY2025, achieving profitability for the first time in its history. With the war in Ukraine still raging, and global defence spending reaching a record high of US$2.7 trillion in 2024, the macro is still running hot for Elsight.
Investors rewarded the drone technology specialist with a 13.15% bump to its share price by day’s end.
In other news, Breville (ASX:BRG) is flying 4.66% higher after a survey from Citi told us what every bloke on the street knows – Aussies love a good cuppa.
Citi analyst Sam Teeger reckons we love a steaming cup of coffee enough to splash out on high-quality home units, an offering which makes up about half of Breville’s revenue.
Teeger points to increased coffee bean delivery subscriptions, a preference for manual or semi-auto machines and early indications BRG’s foray into China could be successful as the main drivers for the stock’s positive outlook.
Data analytics and intelligence software firm Nuix (ASX:NXL) plunged 16.44% today after its CEO Jonathan Rubinsztein exited stage left. Since the exec was brought on just three years ago to fix NXL up after a raft of scandals, it’s not exactly a good look.
Chair Robert Mactier reckons it’s good timing, and the company is on “solid footing” to move forward, but investors aren’t convinced.
ASX Leaders
Today’s best performing stocks (including small caps):
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| CT1 | Constellation Tech | 0.002 | 100% | 1025982 | $1,474,734 |
| CHRCA | Charger Metals | 0.015 | 67% | 30000 | $384,379 |
| EDE | Eden Inv Ltd | 0.065 | 55% | 13465185 | $15,508,649 |
| PVT | Pivotal Metals Ltd | 0.024 | 33% | 27731873 | $16,330,066 |
| PAB | Patrys Limited | 0.046 | 31% | 4399485 | $11,925,502 |
| TIO | Temasresourcescorp. | 0.255 | 28% | 11305313 | $11,000,000 |
| PHX | Pharmx Technologies | 0.165 | 27% | 5986093 | $77,935,883 |
| JNO | Juno | 0.044 | 26% | 337152 | $7,323,297 |
| WRK | Wrkr Ltd | 0.15 | 25% | 5550563 | $228,009,050 |
| BEL | Bentley Capital Ltd | 0.02 | 25% | 461098 | $1,218,047 |
| FBR | FBR Ltd | 0.005 | 25% | 6844153 | $26,207,891 |
| MSI | Multistack Internat. | 0.005 | 25% | 612428 | $545,216 |
| TMX | Terrain Minerals | 0.005 | 25% | 7194094 | $10,727,257 |
| WEL | Winchester Energy | 0.0025 | 25% | 333333 | $2,726,038 |
| NYR | Nyrada Inc. | 0.57 | 23% | 3040611 | $111,170,822 |
| ALM | Alma Metals Ltd | 0.011 | 22% | 4507478 | $16,715,134 |
| OLI | Oliver'S Real Food | 0.011 | 22% | 1079637 | $4,866,587 |
| FLG | Flagship Min Ltd | 0.22 | 22% | 2006359 | $51,529,913 |
| CAZ | Cazaly Resources | 0.039 | 22% | 33148755 | $14,955,652 |
| ABX | ABX Group Limited | 0.12 | 21% | 4846421 | $29,502,943 |
| CXU | Cauldron Energy Ltd | 0.023 | 21% | 3874485 | $33,996,447 |
| CPM | Coopermetalslimited | 0.063 | 19% | 352890 | $4,152,849 |
| CP8 | Canphosphateltd | 0.064 | 19% | 247236 | $16,565,068 |
| CTE | Cryosite Limited | 1.3 | 18% | 20973 | $53,690,519 |
| CTO | Citigold Corp Ltd | 0.013 | 18% | 8749615 | $33,000,000 |
In the news…
Eden Innovations (ASX:EDE) has rapidly built on its data centre sales pipeline, receiving a second order for three OptiBlend kits to the tune of A$230,000.
EDE has accepted nine orders for immediate delivery to data centres over the last two weeks, and expects another three from one customer.
To put things in perspective, the company’s full-year sales hit about A$929,000 in the 2025 financial year. Eden has received orders worth 80% of that revenue in just two weeks and there’s still 8 months to go in FY26.
Temas Resources (ASX:TIO) listed to the ASX over the weekend, closing out an IPO worth A$11 million at $0.20 per share.
TIO holds a technology and metallurgical IP portfolio with 11 patented Regenerative Chloride Leach processes, reducing titanium production costs by up to 65%. The company also holds critical mineral projects in the US, including the Le Blache and Lac Brule titanium-iron-vanadium projects.
Cazaly Resources (ASX:CAZ) is on the up after commissioning a research report from East Coast Research. The report highlights CAZ’s exposure to gold, copper and critical minerals and gives the company a share price target of A$0.083-0.096 per share. CAZ closed at $0.040 per share by end of trade today, adding 25%.
Cooper Metals (ASX:CPM) has wrapped up cultural heritage clearance for the Mt Hope Trend, part of the Mount Isa East project. CPM is keen to investigate the Ardmore North target within Mt Hope after it was identified by an independent review, which sketched out a copper-gold anomaly over 1.5km of strike.
ASX Laggards
Today’s worst performing stocks (including small caps):
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| MSG | Mcs Services Limited | 0.008 | -33% | 1634807 | $2,377,196 |
| FXG | Felix Gold Limited | 0.485 | -27% | 8312029 | $291,199,299 |
| C7A | Clara Resources | 0.003 | -25% | 504650 | $3,393,180 |
| LNU | Linius Tech Limited | 0.0015 | -25% | 108500 | $14,254,387 |
| MOM | Moab Minerals Ltd | 0.0015 | -25% | 53000 | $3,749,332 |
| NTU | Northern Min Ltd | 0.048 | -24% | 1.52E+08 | $526,500,817 |
| VHM | Vhmlimited | 0.565 | -24% | 3059902 | $191,786,853 |
| LMG | Latrobe Magnesium | 0.033 | -23% | 28932893 | $124,500,854 |
| EGY | Energy Tech Ltd | 0.02 | -23% | 764381 | $12,998,767 |
| DBO | Diabloresources | 0.027 | -23% | 8466896 | $8,244,263 |
| ZMM | Zimi Ltd | 0.007 | -22% | 3328340 | $6,626,644 |
| TAT | Tartana Minerals Ltd | 0.042 | -22% | 123847 | $11,563,878 |
| LIN | Lindian Resources | 0.29 | -22% | 37473959 | $607,118,243 |
| 1AD | Adalta Limited | 0.004 | -20% | 8209827 | $8,452,646 |
| ADR | Adherium Ltd | 0.004 | -20% | 797897 | $9,315,873 |
| AQX | Alice Queen Ltd | 0.004 | -20% | 1500000 | $6,923,481 |
| ERA | Energy Resources | 0.002 | -20% | 86367 | $1,013,490,602 |
| GGE | Grand Gulf Energy | 0.002 | -20% | 626000 | $7,051,062 |
| MEL | Metgasco Ltd | 0.002 | -20% | 27704 | $4,592,717 |
| PIL | Peppermint Inv Ltd | 0.004 | -20% | 3532924 | $12,545,104 |
| RAN | Range International | 0.004 | -20% | 30395 | $5,396,452 |
| TON | Triton Min Ltd | 0.008 | -20% | 5626286 | $15,683,887 |
| OM1 | Omnia Metals Group | 0.021 | -19% | 3014977 | $5,644,384 |
| BMG | BMG Resources Ltd | 0.017 | -19% | 9110449 | $19,391,340 |
| AR3 | Austrare | 0.215 | -19% | 3131708 | $57,951,431 |
In Case You Missed It
GoldArc Resources (ASX:GA8) has defined three new untested gold targets at its Leonora North project after extensive soil sampling.
Harvest Technology Group (ASX:HTG) and Annex Digital are teaming up to pursue and deliver government and defence tenders.
PolarX (ASX:PXX) has started drilling at its Humboldt Range gold-silver project in Nevada’s legendary gold belt.
Arika Resources (ASX:ARI) has restarted RC drilling at Pennyweight Point with a multi-stage program aimed at extending the footprint.
TG Metals (ASX:TG6) has recorded high-grade hits up to 3m at 14.63g/t gold within 15m at 4.06g/t from 17m at its Van Uden project in WA’s Forrestania Greenstone Belt.
MoneyMe (ASX: MME) has had a strong start to FY26, achieving growth across all key metrics as it scales its loan book, improves profitability and strengthens credit performance.
Vertex Minerals (ASX:VTX) has produced its first stoping ore and generated $160,000 in gold sales last week.
Ovanti’s (ASX: OVT) executive team is in Las Vegas this week at the Money20/20 fintech conference, eyeing key BNPL and open banking deals to fuel US expansion.
Challenger Gold (ASX:CEL) has raised $30m to ramp up development of its Hualilan gold project in Argentina which is slated to begin production in January 2026.
Redcastle Resources’ (ASX:RC1) drilling could define maiden gold resource at Morgan’s Castle East and test for “string of pearls” type mineralisation.
Adavale Resources (ASX:ADD) has appointed managing director David Ward to lead the company’s next copper and gold growth phase.
Albion Resources (ASX:ALB) has defined an undrilled gold corridor with indications of a fertile intrusion-related system in the Ives North area in WA.
Last Orders
Javelin Minerals (ASX:JAV) has inked a land use agreement covering the Eureka gold project with the Marlinyu Ghoorlie (MG) Native Title Claimant Group.
The LUA offers JAV the opportunity to explore and mine at Eureka with a higher level of certainty, although still subject to the usual heritage clearance and consultation protocols. JAV has now submitted a new mining lease application, looking to build out Eureka into a larger open pit.
Trading halts
Ballard Mining (ASX:BM1) – strategic placement and new exploration target
Breakthrough Minerals (ASX:BTR) – mineral project acquisition and cap raise
Cash Converters (ASX:CCV) – cap raise
Critica (ASX:CRI) – metallurgical test work results
Fin Resources (ASX:FIN) – material acquisition and cap raise
Lion Rock Minerals (ASX:LRM) – exploration results from Minta Rutile Project
Motio (ASX:MXO) – cap raise
Mount Hope Mining (ASX:MHM) – cap raise
Star Minerals (ASX:SMS) – cap raise
Whitebark Energy (ASX:WBE) – Warro Project update and cap raise
At Stockhead, we tell it like it is. While Javelin Minerals is a Stockhead advertiser, it did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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