Stockhead’s Top 10 at 11, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.

It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.



Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

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Red Sky Energy (ASX:ROG) is up 20% this morning on news that the company has signed an agreement with Viva Energy Australia to purchase all crude produced from the Killanoola oil field project subject to specifications.

“We are pleased with our efforts to secure a market and sale agreement for the Killanoola crude and we look forward to supplying Viva Energy in Geelong. This brings the company a major step closer to production,” Red Sky MD Andrew Knox said.

Red Metal (ASX:RED) has climbed 18% this morning after reporting yesterday that the company has assay results from the proof-of-concept drilling of a rare earth oxide (REO) enriched granite intrusion on the Sybella project, near Mt Isa in Northwest Queensland.

PharmAust (ASX:PAA) is up 16% this morning after some good news from the Phase 1 clinical trial of its lead drug candidate monepantel (MPL) in people with Motor Neurone Disease/Amyotrophic Lateral Sclerosis (MND/ALS).

“We are delighted with the results that 11 of 12 trial participants show no significant change in Nfl plasma concentrations and are ‘stable’,” the company says. “MPL has emerged as a leading candidate with enormous potential to aid MND therapy development. It’s a fantastic result for PharmAust that MPL is showing a clinical benefit.”



Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

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AXP Energy (ASX:AXP) is off by 25% on no news, while SI6 Metals (ASX:SI6) is down 17% for the same reason.

Online retailer Kogan (ASX:KGN) is falling this morning, down 14% after the company dropped an untidy earnings report showing that gross sales and revenue of $844.8 million and $489.5 million declined by 28.4% and 31.9%, respectively.

Kogan notes that over the same period, it has corrected inventory down to $68.2 million as at 30 June 2023, a reduction of over 57%, with plans to enter FY24 with “inventory levels aligned to the current levels of demand” as the company transitions to a more platform based model.

Orexplore Technologies (ASX:OXT) has fallen 14% this morning as short-term investors engaged in a spot of profit taking, after the company shot up more than 100% at the end of last week on news of a $1.55 million contract with BHP (ASX:BHP).