Lunch Wrap: ASX healthcare stocks get a Trump whack, silver runs hot

Trump’s latest pharma tariff hit ASX healthcare stocks this morning. Pic: Getty Images

ASX dips as Trump drugs tariff smacks CSL (ASX worm turns up at lunch)
Move over gold… high-ho silver gallops past US$45
Vulcan Energy jumps on $179m German power deal

The ASX was bobbing just above water by Friday lunchtime in the east, up around 0.1%.

Wall Street didn’t help – three down days on the trot with all three major indices down last night.

Stronger-than-expected US GDP and jobless claims data had US traders suddenly remembering that a humming economy means Jerome Powell doesn’t have to ride in with a dove on his shoulder any time soon.

Meanwhile, Donald Trump has found his new tariff toy.

Forget steel or chips, now he’s whacking a 100% duty on branded and patented drugs unless companies break ground on a US manufacturing plant.

“Starting October 1, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” Trump said on Truth Social.

“‘IS BUILDING’ will be defined as, ‘breaking ground’ and/or ‘under construction.’ There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter!”

CSL (ASX:CSL) was smacked early, down as much as 7% on the news. ProMedicus (ASX:PME) wasn’t spared, dropping 2.5%.

Even Telix Pharmaceuticals (ASX:TLX), which actually makes its products in the US and should be insulated, got dragged 3.5% lower – because in markets, guilt by association always gets priced in.

And if tariffs are back on pharma, what’s next?

Silver, though, was the real star this morning. Spot prices smashed through US$45 an ounce, the first time since 2011.

That’s got stocks like South32 (ASX:S32) and Sandfire Resources (ASX:SFR) in sharper focus.

With silver up 55% this year, even outpacing gold’s 45% sprint, punters are suddenly rediscovering the joys of shiny rocks.

In other large cap news, Vulcan Energy Resources (ASX:VUL) leapt 15% after signing a $179 million deal to build a geothermal power plant in Germany.

The so-called Lionheart Project is pitched to pump out 275 gigawatt-hours of power and churn enough lithium hydroxide for half a million EVs a year.

Fortescue (ASX:FMG) also edged a bit higher after inking deals with a quartet of green energy heavyweights: BYD for EVs and batteries, Longi for solar, XCMG for mining gear, and Envision Energy for wind and storage.

Oh, and it’s bought Spanish renewable outfit Nabrawind, too.

ASX LEADERS

Today’s best performing stocks (including small caps) intraday:

Security	Description	Last	%	Volume	MktCap
CC9	Chariot Corporation	0.255	42%	3,073,513	$28,790,393
ORP	Orpheus Uranium Ltd	0.045	41%	37,649	$9,014,308
SRN	Surefire Rescs NL	0.002	33%	7,246	$5,860,289
EG1	Evergreenlithium	0.043	26%	758,958	$8,939,750
LMG	Latrobe Magnesium	0.034	26%	5,947,531	$71,131,477
SPX	Spenda Limited	0.005	25%	3,866,295	$18,460,862
M4M	Macro Metals Limited	0.008	23%	20,242,022	$27,428,052
TM1	Terra Metals Limited	0.195	22%	3,526,888	$100,067,324
ALM	Alma Metals Ltd	0.006	20%	6,339,937	$9,286,186
BPP	Babylon Pump & Power	0.006	20%	1,080,841	$19,034,455
EM2	Eagle Mountain	0.012	20%	24,667,156	$11,350,373
RMX	Red Mount Min Ltd	0.031	19%	73,542,269	$16,323,778
1AE	Auroraenergymetals	0.091	18%	744,443	$13,787,908
FME	Future Metals NL	0.034	17%	8,142,371	$27,793,624
ARV	Artemis Resources	0.007	17%	936,912	$22,625,533
CHM	Chimeric Therapeutic	0.004	17%	1,565,000	$9,763,676
OM1	Omnia Metals Group	0.014	17%	542,692	$2,605,100
SPQ	Superior Resources	0.007	17%	2,142,248	$14,225,896
SRK	Strike Resources	0.036	16%	81,677	$8,796,250
AGR	Aguia Res Ltd	0.029	16%	1,219,772	$37,349,991
SNG	Siren Gold	0.087	16%	3,420,428	$19,853,296
DVL	Dorsavi Ltd	0.045	15%	5,425,920	$43,891,135
STH	Stepchange Holdings	0.150	15%	199,752	$20,831,892
SW1	Swift Networks Group	0.015	15%	2,155,759	$12,264,729

Eagle Mountain Mining (ASX:EM2) told the ASX it’s got nothing new to disclose after its share price jump. The company pointed out copper stocks have been running hot since the Grasberg landslide in Indonesia, and reminded the market it’s still in long-running talks with Marble Mountain Ventures over rights near Oracle Ridge, while also re-negotiating its loan deal with Vincere. Both discussions have been bubbling away for about a year and are ongoing. Eagle Mountain confirmed it’s fully compliant with disclosure rules.

ASX LAGGARDS

Today’s worst performing stocks (including small caps) intraday:

Code	Name	Price	% Change	Volume	Market Cap
LNU	Linius Tech Limited	0.001	-50%	1,000,000	$13,179,029
MOM	Moab Minerals Ltd	0.001	-50%	2,152,781	$3,749,332
EEL	Enrg Elements Ltd	0.002	-25%	1,891,666	$6,507,557
SFG	Seafarms Group Ltd	0.002	-25%	729,103	$9,673,198
DTM	Dart Mining NL	0.002	-20%	1,764,706	$3,436,392
ERA	Energy Resources	0.002	-20%	9,090	$1,013,490,602
TKL	Traka Resources	0.002	-20%	1,039,201	$6,055,348
IPT	Impact Minerals	0.007	-19%	6,481,933	$32,906,640
1AD	Adalta Limited	0.003	-17%	182,867,315	$4,380,616
TMK	TMK Energy Limited	0.003	-17%	200,000	$35,692,149
DEV	Devex Resources Ltd	0.130	-16%	1,279,505	$68,462,054
AHN	Athena Resources	0.006	-14%	510,350	$15,861,699
AVE	Avecho Biotech Ltd	0.006	-14%	355,185	$22,214,246
BLU	Blue Energy Limited	0.006	-14%	27,928,667	$14,900,337
MOH	Moho Resources	0.006	-14%	5,947,610	$5,217,898
RAU	Resouro Strategic	0.203	-14%	717	$11,582,157
ENV	Enova Mining Limited	0.007	-13%	19,220	$12,632,229
JAV	Javelin Minerals Ltd	0.004	-13%	12,594,830	$25,008,900
NES	Nelson Resources.	0.004	-13%	6,446,530	$8,687,711
PGY	Pilot Energy Ltd	0.007	-13%	10,394,138	$17,269,280
VKA	Viking Mines Ltd	0.007	-13%	3,628,000	$10,751,590
EVG	Evion Group NL	0.029	-12%	86,146	$14,492,830
T92	Terra Critical	0.088	-12%	1,102,507	$14,657,555
ALV	Alvomin	0.023	-12%	128,862	$5,076,885