Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading. Here’s what’s happened so far.

Pre-market, the ASX was expected to open lower, after Wall Street’s tech stocks took a bit of a backward step overnight.

The headlines this morning are basically just more hand-wringing over Wisetech founder Richard White’s rapidly unravelling world, and a deeper look into how much money Qantas could be on the hook for over illegally sacking workers during the Covid-19 pandemic.

The Transport Workers’ Union (TWU) reckons it could be somewhere in the neighbourhood of $100 million, but workplace relations lawyer Dan Trindade told the ABC that it could be as  much as $350 million. Trindale also said that Qantas probably saved something like $580 million by sacking the workers, based on evidence presented in court.

Anyway… as predicted, the ASX has opened lower, with the benchmark ASX 200 dropping 0.9% in the opening minutes of the session, with every sector in the red.

Looks like a bumpy day ahead.

 

WINNERS

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

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Prodigy Gold (ASX:PRX) was up on news that it’s received “excellent” results for the Reverse Circulation (“RC”) drilling program completed during September at the Hyperion gold deposit, where it has found intercepts such as 25 metres @ 2.2g/t Au from 66m, 15 metres @ 3.1g/t Au from 152m and 15 metres @ 2.1g/t Au from 48m.

Invion (ASX:IVX) was up, but its news was just a change of Directors interest note. Nuthin’ to see here.

Nanoveu (ASX:NVU) was up on news that its current takeover target, EMASS, had completed benchmark testing for its ECS-DOT SoC (System on Chip) chipset, achieving 20x lower energy consumption compared to peers,and “setting a new benchmark for ultra-low power performance in edge AI applications”. Nanoveu is currently in the process of acquiring 100% of EMASS, subject to shareholder approval.

Gratifii (ASX:GTI) was up after releasing a positive quarterly report this morning, showing 1Q FY25 cash receipts of $8.31 million, an increase of 32.7% over previous quarter and 14.4% over previous corresponding quarter. That’s put the company in a cashflow positive position, improving by about $1.1 million from 4Q FY24 supported by the increase in cash receipts and reduced investment in inventory.

MONEYME (ASX:MME) was up on news it has executed its first asset-backed securities deal in the auto asset class, with the MME Autopay ABS 2024-1 Trust – the second ABS transaction in FY25 and the largest term securitisation deal to date for the company. The Aaa (sf) and AAA (sf) credit ratings for the Class A1 and Commission notes represent 72.4% of the collateralised notes, “reflecting strong credit quality and performance of the Autopay loans,” says MoneyME boss Clayton Howes.

 

LAGGARDS

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

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At Stockhead we tell it like it is. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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