Lunch Wrap: ASX shakes off the slump as goldies shine; NAB cops a beating
Gold glitters while NAB cops a beating. Pic: Getty Images
- ASX shakes off the slump
- NAB slips as gold shines
- Light & Wonder hits the jackpot
The ASX had rebounded about 0.4% just before Thursday lunchtime in the east.
(Update… erm, it’s slipped back a fair bit by the time the editor “subbed and pubbed” this article. With the benchmark now sitting at +0.06% intraday, this afternoon’s trading is “anyone’s game”.)
The early rise came after Wall Street dusted itself off overnight, with the Dow, S&P, and Nasdaq all edging higher in a classic “buy the dip” session.
Even the Supreme Court got in on the action, taking a swing at Trump’s global tariffs in a marathon hearing that could strip one of his biggest economic weapons.
Back home, 10 of 11 sectors were in the green this morning, led by mining.
The rally had a familiar driver – gold. The precious metal perked up after a few sleepy sessions.
Gold heavyweights Northern Star Resources (ASX:NST) and Newmont Corporation (ASX:NEM) added 2.5% each.
In the large cap land, the only thing keeping the market from stretching higher was National Australia Bank (ASX:NAB).
NAB’s shares slumped over 3% after its full year cash earnings of $7.09 billion missed consensus.
Even though NAB’s net interest margin (NIM) edged higher, analysts say it was for the wrong reasons: it came from short-term trading, not from actually growing the loan book.
Elsewhere, games tech stock Light & Wonder (ASX:LNW) jumped more than 11% after delivering an earnings beat straight out of Vegas.
Quarterly net income surged 78% to US$114 million, thanks to stronger gaming operations and record iGaming revenue.
Neuren Pharmaceuticals (ASX:NEU), one of the ASX’s more glamorous biotechs, reported a solid 11% lift in quarterly sales of its Rett syndrome drug DAYBUE to US$101.1 million.
Over 1,000 patients received shipments for the first time, but despite the progress, shares plunged 9% after the figures came in below lofty expectations.
ASX LEADERS
Today’s best performing stocks (including small caps) intraday:
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| HIQ | Hitiq Limited | 0.027 | 80% | 12,258,233 | $7,304,737 |
| MAY | Melbana Energy Ltd | 0.011 | 57% | 21,921,155 | $26,473,782 |
| MTL | Mantle Minerals Ltd | 0.002 | 50% | 1,000,000 | $7,233,115 |
| NTM | Nt Minerals Limited | 0.003 | 50% | 500,000 | $2,421,806 |
| ZNO | Zoono Group Ltd | 0.068 | 48% | 2,782,320 | $18,685,741 |
| XPN | Xpon Technologies | 0.019 | 36% | 17,690,099 | $6,864,989 |
| HCL | Highcom Ltd | 0.305 | 36% | 972,576 | $23,103,601 |
| AYM | Australia United Min | 0.004 | 33% | 137,770 | $5,527,732 |
| HLX | Helix Resources | 0.002 | 33% | 50,000 | $8,019,436 |
| TAS | Tasman Resources Ltd | 0.024 | 33% | 1,080,773 | $6,252,349 |
| JGH | Jade Gas Holdings | 0.038 | 27% | 3,170,832 | $55,015,025 |
| FLC | Fluence Corporation | 0.125 | 25% | 643,894 | $108,786,159 |
| SPQ | Superior Resources | 0.011 | 22% | 665,320 | $21,365,845 |
| ABX | ABX Group Limited | 0.115 | 21% | 831,987 | $28,310,905 |
| VAR | Variscan Mines Ltd | 0.006 | 20% | 165,164 | $6,235,795 |
| VBS | Vectus Biosystems | 0.195 | 18% | 118,315 | $8,800,000 |
| NYM | Narryermetalslimited | 0.040 | 18% | 10,000 | $5,985,863 |
| FSA | FSA Group Limited | 1.280 | 16% | 194,367 | $137,550,147 |
| GEN | Genmin | 0.022 | 16% | 514,240 | $16,858,436 |
| MDI | Middle Island Res | 0.030 | 15% | 7,828,435 | $7,624,083 |
| CXO | Core Lithium | 0.155 | 15% | 30,094,170 | $359,169,653 |
| NXN | Nexsen Limited | 0.195 | 15% | 1,241,489 | $12,336,236 |
| EE1 | Earths Energy Ltd | 0.008 | 14% | 369,101 | $3,709,750 |
| LML | Lincoln Minerals | 0.008 | 14% | 6,666,521 | $18,045,668 |
| ENL | Enlitic Inc. | 0.024 | 14% | 740,089 | $17,337,940 |
HitIQ (ASX:HIQ) has scored a major win, with Monash University choosing its PROTEQT mouthguard technology for a new $799k Australian Research Council-funded brain injury study.
The project will combine real-time impact data from HITIQ’s instrumented mouthguards with biomarker analysis to set clearer thresholds for concussion and brain injury risk.
Monash has already committed to buying 400 units worth $200,000 in January 2026, giving the deal both scientific and commercial weight.
Zoono Group (ASX:ZNO) has signed an exclusive five-year deal with South Africa’s biggest packaging group, Mpact, to use its antimicrobial technology on corrugated food packaging for fruit exports like grapes and berries.
The agreement, worth at least NZ$5.1 million in minimum orders, builds on Zoono’s expansion in the UK and Europe with partner OSY. ZNO’s technology extends the shelf life of fresh produce.
Jade Gas Holdings (ASX:JGH) lifted gas production by 19% in October as output from its Red Lake field in Mongolia kept rising. Both horizontal wells, RL-Hz-01 and RL-Hz-02, are now close to minimum water levels, with steady progress in stabilising gas flow as dewatering continues.
Jade says the performance is in line with expectations and marks another step toward confirming sustainable flow rates needed for its Field Development Plan and Economic Study, both of which are advancing well.
ASX LAGGARDS
Today’s worst performing stocks (including small caps) intraday:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BEO | Beonic Ltd | 0.135 | -23% | 63,548 | $11,829,222 |
| IMC | Immuron Limited | 0.066 | -22% | 6,314,789 | $22,895,074 |
| AKN | Auking Mining Ltd | 0.006 | -20% | 9,717,564 | $6,150,232 |
| BLU | Blue Energy Limited | 0.004 | -20% | 2,730,748 | $15,059,868 |
| ENT | Enterprise Metals | 0.004 | -20% | 12,699,353 | $7,470,753 |
| SFG | Seafarms Group Ltd | 0.002 | -20% | 167,717 | $12,091,498 |
| ERL | Empire Resources | 0.006 | -14% | 400,701 | $10,387,393 |
| SER | Strategic Energy | 0.007 | -13% | 33,945 | $8,791,467 |
| LPM | Lithium Plus | 0.110 | -12% | 53,260 | $16,605,000 |
| OD6 | Od6Metalsltd | 0.060 | -12% | 643,991 | $13,527,205 |
| BEL | Bentley Capital Ltd | 0.023 | -12% | 52,906 | $1,979,326 |
| VR8 | Vanadium Resources | 0.023 | -12% | 1,431,086 | $16,242,634 |
| AAU | Antilles Gold Ltd | 0.008 | -11% | 63,036 | $25,313,112 |
| DRO | Droneshield Limited | 3.435 | -11% | 16,345,600 | $3,368,017,372 |
| APL | Associate Global | 0.125 | -11% | 31,784 | $8,041,940 |
| BGT | Bio-Gene Technology | 0.025 | -11% | 497,713 | $8,541,711 |
| AM5 | Antares Metals | 0.009 | -10% | 150,000 | $5,148,529 |
| CRR | Critical Resources | 0.009 | -10% | 1,173,475 | $29,604,604 |
| LEG | Legend Mining | 0.009 | -10% | 1,123,500 | $29,144,772 |
| OEL | Otto Energy Limited | 0.005 | -10% | 1,527,484 | $23,975,049 |
| NEU | Neuren Pharmaceut. | 18.280 | -10% | 706,961 | $2,558,883,111 |
| CND | Condor Energy Ltd | 0.019 | -10% | 2,876,390 | $15,051,084 |
| JHX | James Hardie Indust | 26.700 | -9% | 3,309,969 | $12,678,652,626 |
| CAN | Cann Group Ltd | 0.010 | -9% | 1,578,809 | $9,063,668 |
| CMO | Cosmometalslimited | 0.020 | -9% | 690,731 | $9,553,428 |
IN CASE YOU MISSED IT
ASX-listed language tech company Straker (ASX:STG) has secured a €525,000 contract with the European Union.
Petratherm (ASX:PTR) is optimising metallurgical processing for its Rosewood project after producing a high-quality heavy mineral concentrate.
Health Food Symmetry (HFS) undertakes a $2 million funding round ahead of a planned public listing in the next 12 to 18 months.
Alice Queen (ASX:AQX) has detailed its plans to update the scoping study for its Horn Island project to reflect the recent surge in gold prices.
Enterprise software and digital transformation firm StepChange (ASX:STH) has launched a Houston hub to service global Tier 1 clients and capitalise on growing US demand.
Power Minerals (ASX:PNN) has polished off a round of due diligence sampling at the Gamma REE-uranium project in California ahead of formally acquiring the tenure.
ReNerve (ASX:RNV) has expanded the ongoing clinical study evaluating its flagship NervAlign nerve cuff, following encouraging interim results.
Sweden has lifted its uranium mining ban in huge news for Aura Energy (ASX:AEE), the owner of the Häggån polymetallic project.
Cannindah Resources’ (ASX:CAE) extensional drilling at Mt Cannindah has delivered a strong start, reinforcing grade and growth potential.
Norwest Minerals (ASX:NWM) is taking a closer look at a potential gold discovery on the Marymia East project with a 5-hole drilling program.
LAST ORDERS
St George Mining (ASX:SGQ) has made its final deferred cash consideration payment to Itafos Inc, as part of the sales agreement for the Araxá Rare Earths and Niobium Project in Minas Gerais, Brazil.
SGQ is now fully in control of Araxa, having made the payments earlier than scheduled. As a result, all security held by Itafos over the project and related group’s assets will be released.
At Stockhead, we tell it like it is. While St George Mining 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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