Closing Bell: ASX nails Wednesday as biotechs, ressies and gold stand tall
Mr Miyagi might have something to say about this technique. Pic: Getty Images
- ASX closes up 1.03% to four-day high with strong performances in healthcare, materials and financials
- Gold hits another all-time high – of US$4211 per ounce
- Telix surges 16% after reporting robust September quarter revenue from its prostate cancer imaging agents
The ASX 200 closed up 1.03% to a four-day high of 8990.90 points on Wednesday, with strong gains in the major banks along with the materials sector as gold reached yet another record.
Overnight it was a mixed session on Wall Street as President Donald Trump took another swing at China – this time over agricultural imports.
The tech-heavy Nasdaq slipped 0.8%, the S&P 500 eased 0.2%, while the Dow Jones added 0.4%. However, US futures are looking positive for Thursday’s session.
So what has upset Trump this time? With tariffs still in place, China has sharply reduced its US soybean purchases, turning instead to cheaper suppliers in South America.
Trump labelled the move an “economically hostile act” and warned he could block new areas of US-China trade. Meanwhile, US Federal Reserve Chair Jerome Powell made some dovish comments during the National Association for Business Economics Annual meeting in Philadelphia.
He noted that the central bank’s quantitative easing was set to begin in the coming months.
“We may be approaching the end of our balance sheet contraction in the coming months,” Powell said.
Asian markets were mostly in positive territory today with the Nikkei up 1.56%, Hang Seng rising 1.21% and the SSE Composite Index up 0.10%.
Bitcoin was looking a tad weaker, though, trading around US$112,200. The Aussie dollar was steady near US 65c cents at the time of writing.
Healthcare leads gainers as banks recover and gold stocks shine
Ten of the 11 sectors were in the green today with healthcare leading the gainers up 2.07%, followed by materials up 1.46% and financials rising 1.24%. Energy was the lone laggard, down 0.06%.
Telix Pharmaceuticals (ASX:TLX) surged 16% today after upgrading its revenue guidance and delivering a 53% year-on-year increase in unaudited group revenue for the September quarter.
Sales of its prostate cancer cell imaging agents Gozellix and Illuccix have been increasing, contributing to upgraded FY25 guidance of between US$800m and US$820m.
Lithium, gold, copper and mineral processing stocks dominated the top gainers. Gold stocks Regis Resources (ASX:RRL), Newmont Corporation (ASX:NEM), Northern Star Resources (ASX:NST), Genesis Minerals (ASX:GMD) and Capricorn Metals (ASX:CMM) all reached new records as the precious metal reached another all-time high, of US$4211 per ounce.
The big four banks recovered from broad losses today with Westpac (ASX:WBC) rising 1.69%, National Australia Bank (ASX:NAB) adding 1.61%, Commonwealth Bank (ASX:CBA) climbing 0.99% and Australia and New Zealand Banking Group (ASX:ANZ) up 0.64%.
ASX Leaders
Today’s best performing stocks (including small caps):
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| SKN | Skin Elements Ltd | 0.009 | 200% | 34,798,157 | $3,225,642 |
| PIL | Peppermint Innovation | 0.004 | 100% | 40,462,920 | $5,018,042 |
| NVA | Nova Minerals Ltd | 1.615 | 79% | 17,188,272 | $361,952,025 |
| CUF | Cufe Ltd | 0.026 | 53% | 53,318,755 | $22,891,773 |
| AYM | Australia United Min | 0.006 | 50% | 8,656,722 | $7,370,310 |
| CTN | Catalina Resources | 0.006 | 50% | 33,187,917 | $9,704,076 |
| ALM | Alma Metals Ltd | 0.01 | 43% | 18,180,217 | $13,000,660 |
| ADD | Adavale Resource Ltd | 0.057 | 43% | 17,917,437 | $10,747,398 |
| AMX | Aerometrex Limited | 0.27 | 38% | 363,233 | $18,523,175 |
| RAU | Resouro Strategic | 0.27 | 35% | 1,469,425 | $9,724,918 |
| BLZ | Blaze Minerals Ltd | 0.004 | 33% | 6,391,082 | $8,625,000 |
| CT1 | Constellation Tech | 0.002 | 33% | 40,334 | $2,212,101 |
| MOM | Moab Minerals Ltd | 0.002 | 33% | 20,495,416 | $2,811,999 |
| PRM | Prominence Energy | 0.004 | 33% | 249,215 | $2,667,529 |
| AXPDD | AXP Energy Ltd | 0.021 | 31% | 1,675,755 | $5,347,745 |
| LMS | Litchfield Minerals | 0.74 | 31% | 1,066,509 | $24,963,711 |
| AAJ | Aruma Resources Ltd | 0.017 | 31% | 31,116,175 | $4,263,227 |
| BMG | BMG Resources Ltd | 0.017 | 31% | 16,314,606 | $12,004,163 |
| RML | Resolution Minerals | 0.091 | 30% | 231,849,429 | $125,872,732 |
| ATG | Articore Group Ltd | 0.31 | 29% | 683,306 | $70,528,530 |
| LRV | Larvottoresources | 1.375 | 29% | 22,431,860 | $552,501,564 |
| BIT | Biotron Limited | 0.0045 | 29% | 39,185,106 | $4,645,360 |
| UNT | Unith Ltd | 0.009 | 29% | 29,077,482 | $10,633,761 |
| LKY | Locksley Resources | 0.63 | 29% | 19,526,795 | $135,484,491 |
| RMX | Red Mount Min Ltd | 0.041 | 28% | 109,718,986 | $24,574,911 |
In the news…
Skin Elements (ASX:SKN) rose 200% today after securing binding commitments to raise $2.5 million in a two-tranche placement to fund the development program for its SE Formula biotechnology.
SKN is developing a plant-based portfolio of formulations including hospital-grade disinfectants, natural and organic sunscreen, skincare products and the Elizabeth Jane Natural Cosmetics brand.
CuFe (ASX:CUF) is also in capital raise mode, rising 53% after announcing it was targeting $5.4 million at a 9% premium to its last 5-day VWAP in a strategic placement.
The placement includes only four participants, led by critical minerals and defence-sector investor Mathew August, with funds to be channelled to feasibility and exploration at CUF’s flagship Tennant Creek copper-gold project.
ASX Laggards
Today’s worst performing stocks (including small caps):
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| HAL | Halo Technologies | 0.04 | -32% | 520,206 | $17,224,433 |
| HYD | Hydrix Limited | 0.017 | -26% | 1,565,344 | $6,273,683 |
| BMO | Bastion Minerals | 0.0015 | -25% | 10,620,887 | $4,445,190 |
| SRN | Surefire Rescs NL | 0.0015 | -25% | 6,920,000 | $8,051,219 |
| 29M | 29Metalslimited | 0.4175 | -21% | 12,530,669 | $726,808,311 |
| SLM | Solismineralsltd | 0.06 | -21% | 5,906,305 | $10,722,094 |
| ERA | Energy Resources | 0.002 | -20% | 936,144 | $1,013,490,602 |
| OEL | Otto Energy Limited | 0.004 | -20% | 3,201,401 | $23,975,049 |
| ROG | Red Sky Energy. | 0.004 | -20% | 2,905,048 | $27,111,136 |
| VEN | Vintage Energy | 0.004 | -20% | 1,047,010 | $10,434,568 |
| WBE | Whitebark Energy | 0.004 | -20% | 1,823,518 | $3,517,563 |
| SFX | Sheffield Res Ltd | 0.135 | -18% | 1,926,201 | $65,262,005 |
| RIM | Rimfire Pacific | 0.019 | -17% | 13,810,294 | $62,672,560 |
| HMI | Hiremii | 0.05 | -17% | 150,000 | $9,064,345 |
| ERL | Empire Resources | 0.005 | -17% | 430,982 | $8,903,479 |
| OVT | Ovanti Limited | 0.005 | -17% | 72,592,591 | $33,094,738 |
| NTU | Northern Min Ltd | 0.06 | -15% | 164,043,851 | $593,358,063 |
| DME | Dome Gold Mines Ltd | 0.14 | -15% | 174,072 | $69,146,766 |
| M24 | Mamba Exploration | 0.018 | -14% | 280,993 | $6,198,478 |
| MRD | Mount Ridley Mines | 0.003 | -14% | 948,545 | $3,467,510 |
| TMX | Terrain Minerals | 0.006 | -14% | 13,467,472 | $18,772,700 |
| ACR | Acrux Limited | 0.013 | -13% | 675,863 | $6,138,953 |
| BGE | Bridgesaaslimited | 0.013 | -13% | 764,000 | $2,997,888 |
| EQS | Equitystorygroupltd | 0.013 | -13% | 1,164,103 | $2,652,718 |
| X2M | X2M Connect Limited | 0.013 | -13% | 4,441,890 | $15,143,854 |
In Case You Missed it
CuFe (ASX:CUF) has raised $5.4m through a placement to four strategic investors to fund exploration drilling and studies at Tennant Creek copper-gold project.
Orange Minerals (ASX:OMX) is preparing to drill the first ever deep diamond hole at its Lennon’s Find project in WA, after recording high-grade silver, gold and base metal rock chips.
Red Mountain Mining’s (ASX:RMX) rock chip sampling has returned high-grade antimony at Oaky Creek and confirmed mineralisation is present at Eastern Hills.
DY6 Metals (ASX:DY6) has begun a 91-hole auger program to follow up recent shallow drilling results at its Central Rutile project in Cameroon.
Axel REE (ASX:AXL) is continuing to explore its Brazilian rare earths project at pace, after receiving positive auger drilling results.
West Wits Mining (ASX:WWI) is closing in on gold production as underground ore mining gets underway at its Qala Shallows project in South Africa.
West Coast Silver (ASX:WCE) has kicked off a second phase of diamond drilling at the Elizabeth Hill project in the quest for more high-grade silver.
American Uranium (ASX:AMU) is ahead of schedule at the Lo Herma ISR uranium project in Wyoming, mobilising a drill rig to begin resource expansion and infill.
iTech Minerals (ASX:ITM) has uncovered 6km – 2km corridor of high-grade antimony-gold anomalism at Reynolds Range in the Northern Territory.
Metallium (ASX:MTM) has proved its Flash Joule Heating technology can extract valuable elements from discarded magnets.
Infill drilling at Astral Resources’ (ASX:AAR) flagship Theia deposit, part of the Mandilla gold project near Kalgoorlie, is continuing to build confidence.
PolarX (ASX:PXX) is gearing up to drill 2000 metres over 36 new claims at the Black Canyon project’s Ridgeline gold-silver prospect in Nevada.
Ariana Resources (ASX:AA2) has kicked off the first phase of a major ~11,000m drilling program at its 100%-owned Dokwe Gold Project in Zimbabwe.
ClearVue Technologies (ASX:CPV) has raised $4.6m to fund certification of its Gen3 Vision Glass technology and other products as well as continued innovation.
Trading Halts
Litchfield Minerals (ASX:LMS) – drilling update for the Oonagalabi project
Peppermint Innovation (ASX:PIL) – pending announcement
Vectus Biosystems (ASX:VBS) – material transaction relating to drug library
Auris Minerals (ASX:AUR) – cap raise
Livium (ASX:LIT) – cap raise
Orthocell (ASX:OCC) – cap raise
Andromeda Metals (ASX:ADN) – cap raise
WAM Income Maximiser (ASX:WMX) – cap raise
Golden Deeps (ASX:GED) – cap raise
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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