Stockhead’s Top 10 at 10, 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.
By 10.30am AEDT the S&P/ASX 200 (ASX:XJO) was down 0.62%.
Major indexes on Wall St were mixed overnight. The S&P 500 fell by 0.1%, the Dow Jones by 0.54%, but the Nasdaq rose 0.13%.
Economic data coming out of the US showed inflation easing and the labour market slowing. The PCE index, the US Federal Reserve’s preferred inflation gauge, grew by just 5% from a year ago, confirming the recent trend of weakening price increases.
First time job claims fell by 16,000 to 225,000, which was lower than expected.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| MRQ | MRG Metals Limited | 0.004 | 33% | 2,693,483 | $5,871,176 |
| MFD | Mayfield Childcr Ltd | 1.21 | 25% | 158,998 | $63,026,760 |
| BGD | Barton Gold Holdings | 0.225 | 22% | 96,831 | $15,954,826 |
| TOY | Toys R Us | 0.036 | 20% | 53,936 | $25,892,600 |
| PKD | Parkd Ltd | 0.024 | 20% | 14,286 | $2,004,003 |
| DDT | DataDot Technology | 0.007 | 17% | 150,000 | $7,463,217 |
| BDT | Birddog | 0.185 | 16% | 2,500 | $32,738,462 |
| ARR | American Rare Earths | 0.23 | 15% | 2,243,384 | $88,876,160 |
| AOA | Ausmon Resorces | 0.008 | 14% | 230,000 | $6,001,025 |
| M8S | M8 Sustainable | 0.008 | 14% | 433,723 | $3,436,359 |
Childcare provider Mayfield Childcare (ASX:MFD) is soaring after receiving an “unsolicited, indicative, conditional and non-binding” proposal from its largest shareholder Genius Education Holdings.
Genius has offered to acquire 100% of MFD shares for $1.28 cash.
Mayfield released the announced after the market close yesterday and was trading at 96c at the time.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| VIP | VIP Gloves | 0.004 | -33% | 1,903,833 | $4,720,689 |
| DUN | Dundas Minerals | 0.215 | -26% | 790,601 | $12,888,833 |
| AUK | Aumake Limited | 0.003 | -25% | 35 | $3,485,788 |
| KNM | Kneomedia Limited | 0.016 | -16% | 715,936 | $25,571,676 |
| EDE | Eden Inv Ltd | 0.0055 | -15% | 4,260,808 | $17,622,988 |
| K2F | K2Fly Ltd | 0.165 | -13% | 75,295 | $33,088,433 |
| BGE | Bridge Saas | 0.1 | -13% | 26,000 | $3,339,141 |
| SHO | Sportshero Ltd | 0.02 | -13% | 3,112,640 | $13,105,271 |
| CAD | Caeneus Minerals | 0.0035 | -13% | 4,116,666 | $21,382,420 |
| GCR | Golden Cross | 0.007 | -13% | 1,901,789 | $8,778,049 |
VIP Gloves (ASX:VIP) has announced due to unfavourable economic conditions, the company has made the decision to temporarily cease glove manufacturing operations.
The company said the board made the decision to temporarily cease operations due to poor market demand for nitrile gloves, low average selling prices of gloves, rising raw material costs, rapidly increasing gas utility costs caused mainly by international demand for gas as result of the Russian/Ukraine conflict, and an increase in the minimum wage set by the Malaysian government.
VIP said the board “are completing an assessment and review of all options and will provide an update to the market when it has decided on the company’s future operations”.