Closing Bell: ASX loses steam, paring back gains to add just 0.08pc
The ASX hit the snooze button after about 2:30 AEST this afternoon, sliding back to just above neutral. Pic: Getty Images
- ASX hits the breaks, adding just 0.08pc
- Info tech also contracted, adding 0.54pc compared to more than 1pc earlier in the session
- Profit taking drives materials, banks lower
3pm slump has ASX yawning to close
The ASX 200 pulled back from early gains that saw the bourse climb about 0.2% before lunch, adding just 0.08% by the end of the day.
Things were kicking along with plenty of energy until around 2pm AEST when the All Tech index went sideways, shedding much of its momentum.
The info tech sector added just 0.54%, despite leading gains with a more than 1% jump earlier in the day.
Gold stocks, the broader resources index and the ASX 200 Banks failed to show their usual strength, leaving the ASX to end just about flat for the second day in a row.
ASX SMALL CAP LEADERS
Today’s best performing small cap stocks:
| Security | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| GMN | Gold Mountain Ltd | 0.002 | 100% | 1.25E+08 | $5,619,759 |
| TOU | Tlou Energy Ltd | 0.022 | 57% | 2133817 | $18,180,180 |
| TNY | Tinybeans Group Ltd | 0.125 | 44% | 278424 | $12,868,208 |
| FBM | Future Battery | 0.028 | 40% | 3663714 | $13,463,221 |
| GLL | Galilee Energy Ltd | 0.007 | 40% | 2185493 | $3,535,964 |
| OKJ | Oakajee Corp Ltd | 0.044 | 33% | 594610 | $3,017,719 |
| AOA | Ausmon Resorces | 0.002 | 33% | 3405710 | $1,966,820 |
| AQX | Alice Queen Ltd | 0.004 | 33% | 350195 | $3,748,920 |
| BLZ | Blaze Minerals Ltd | 0.004 | 33% | 6990060 | $5,335,392 |
| MGU | Magnum Mining & Exp | 0.008 | 33% | 3405136 | $13,908,223 |
| SFG | Seafarms Group Ltd | 0.002 | 33% | 456473 | $7,254,899 |
| WMG | Western Mines | 0.265 | 33% | 556834 | $19,357,669 |
| DY6 | Dy6Metalsltd | 0.205 | 32% | 2194552 | $11,541,688 |
| ATX | Amplia Therapeutics | 0.3 | 28% | 13707383 | $91,168,877 |
| EVR | Ev Resources Ltd | 0.01 | 25% | 57017583 | $15,886,693 |
| MSG | Mcs Services Limited | 0.005 | 25% | 250001 | $792,399 |
| NOR | Norwood Systems Ltd. | 0.02 | 25% | 2610959 | $8,254,842 |
| QXR | Qx Resources Limited | 0.0025 | 25% | 19888 | $2,620,658 |
| RMX | Red Mount Min Ltd | 0.01 | 25% | 3730164 | $3,719,662 |
| TEM | Tempest Minerals | 0.005 | 25% | 109015 | $4,407,180 |
| KLI | Killiresources | 0.032 | 23% | 916898 | $3,645,817 |
| AUG | Augustus Minerals | 0.033 | 22% | 1206816 | $4,588,554 |
| GRV | Greenvale Energy Ltd | 0.034 | 21% | 815888 | $15,242,454 |
| NH3 | Nh3Cleanenergyltd | 0.041 | 21% | 2213018 | $19,196,563 |
| ADY | Admiralty Resources. | 0.006 | 20% | 100000 | $13,147,397 |
Making news…
Kalina Power (ASX:KPO) wasted no time in releasing its quarterly report for the JuneQ, getting ahead of the pack to give its presentation some breathing room.
KPO is developing five natural gas power plants in conjunction with data centre locations, incorporating carbon capture and sequestration technologies to lower emissions.
This quarter, Kalina was awarded 180MW of power within the Alberta grid – which the company intends to transfer to a third party – and moved to offload its 60 MW Saddle Hills project site as well as one or more of its Canadian subsidiary’s 170 MW project sites.
Silk Logistics (ASX:SLH) has gotten the go-ahead from the ACCC for a scheme of arrangement that would see it wholly acquired by DP World Australia, a private shipping logistics company.
DP World is offering shareholders $2.14 per Silk share, which at first offer was a 45.6% premium to last close. SLH’s shares have risen since then, now sitting at $2.1 each as investors lean into the acquisition.
ASX SMALL CAP LAGGARDS
Today’s worst performing small cap stocks:
| Security | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| HLX | Helix Resources | 0.001 | -50% | 58000 | $6,728,387 |
| AXP | AXP Energy Ltd | 0.001 | -33% | 109654 | $10,027,021 |
| PAB | Patrys Limited | 0.001 | -33% | 198576 | $3,548,715 |
| PRX | Prodigy Gold NL | 0.002 | -33% | 2259834 | $9,525,167 |
| TMK | TMK Energy Limited | 0.002 | -33% | 3234175 | $30,667,149 |
| REY | REY Resources Ltd | 0.011 | -27% | 28667 | $3,173,414 |
| EEL | Enrg Elements Ltd | 0.0015 | -25% | 13990801 | $6,507,557 |
| SHP | South Harz Potash | 0.003 | -25% | 268153 | $5,132,248 |
| LKO | Lakes Blue Energy | 0.75 | -25% | 1138601 | $58,770,705 |
| CDE | Codeifai Limited | 0.04 | -25% | 13095786 | $23,475,738 |
| AR9 | Archtis Limited | 0.205 | -23% | 4419949 | $76,653,102 |
| NGS | NGS Ltd | 0.021 | -22% | 697546 | $4,756,529 |
| HPC | Thehydration | 0.011 | -21% | 784289 | $5,408,213 |
| DDT | DataDot Technology | 0.004 | -20% | 350001 | $6,054,764 |
| FHS | Freehill Mining Ltd. | 0.004 | -20% | 4508753 | $17,069,268 |
| MRD | Mount Ridley Mines | 0.002 | -20% | 56409 | $1,946,223 |
| NHE | Nobleheliumlimited | 0.029 | -17% | 1155037 | $20,983,375 |
| ALY | Alchemy Resource Ltd | 0.005 | -17% | 98904 | $7,068,458 |
| FBR | FBR Ltd | 0.005 | -17% | 2783572 | $34,136,713 |
| NFM | New Frontier | 0.01 | -17% | 2019510 | $19,262,552 |
| TEG | Triangle Energy Ltd | 0.0025 | -17% | 3332323 | $6,267,702 |
| TSL | Titanium Sands Ltd | 0.005 | -17% | 50260 | $14,068,483 |
| MDR | Medadvisor Limited | 0.055 | -15% | 3990270 | $40,611,029 |
| AON | Apollo Minerals Ltd | 0.006 | -14% | 250000 | $6,499,198 |
| EMT | Emetals Limited | 0.003 | -14% | 213214 | $2,975,000 |
Making news…
Lakes Blue Energy (ASX:LKO) has returned to official quotation on the ASX, having been suspended on October 2 2023 after failing to release required quarterly updates and reports.
Wasting no time, LKO has launched a share placement right out the gate, aiming to raise $6.5m at $0.75 a share to fund its upcoming drilling program at the Wombat 5 well in the Gippsland Basin of Victoria.
IN CASE YOU MISSED IT
Australian Mines (ASX:AUZ) has secured an agreement with GoldMining to earn up to 80% of the Boa Vista gold project in Brail.
MTM Critical Metals (ASX:MTM) is preparing to change its name to Metallium as it uplists to the OTCQX Best Market.
TRADING HALTS
Argosy Minerals (ASX:AGY) – cap raise
ARC Funds (ASX:ARC) – cap raise
DigitalX (ASX:DCC) – cap raise
Nova Minerals (ASX:NVA) – cap raise
Orion Minerals (ASX:ORN) – cap raise
DY6 Metals (ASX:DY6) – pending acquisition
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Related Topics
Related Stories
UNLOCK INSIGHTS
Discover the untold stories of emerging ASX stocks.
Daily news and expert analysis, it's free to subscribe.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
