Top 10 at 11: ASX dips in early trade; Amplia achieves second pancreatic cancer complete response

Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.

With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest.

In brief, this is what the market has been up to this morning.

Tech, small cap, gold stocks slide

The ASX is down 0.16% as of about 10:30 am AEST this morning.

It’s not a particularly bright start to the day, with only three sectors in the green. Discretionary, financials and staples have a lot of work to do if they’re going to prop up the ASX today.

Our usual drivers of momentum in info tech (-0.91%), energy (-0.55%) and materials (-0.85%) are all languishing in the dumps in this first hour of trade.

The only bright spot at present are our top seven bank stocks, which have lifted their index 0.36%.

Even so, there isn’t a lot of progress to report at present. NAB (ASX:NAB) is up 0.85% and Westpac (ASX:WBC) 0.88%.

The Australian Bureau of Statistics is set to release the latest Labour Force report around midday, which could push the market in either direction.

In the meantime, here are our winners and laggards for the morning…

WINNERS

In the news…

Amplia Therapeutics (ASX:ATX) has achieved a second complete response in its 55-patient ACCENT trial evaluating FAK inhibitor narmafotinib in combination with chemotherapy in advanced pancreatic cancer.

It’s big news, as complete responses are very rare in patients with advanced pancreatic cancer. A complete response (CR) means a disappearance of all tumour lesions has been maintained for more than two months.

A seminal study demonstrating the effect of chemotherapies gemcitabine and Abraxane in advanced pancreatic cancer reported only one complete response out of 431 patients.

Peak Minerals (ASX:PUA) reckons it’s sitting on a monazite-heavy mineral assemblage at Minta Est, part of the Minta Rutile project in Cameroon.

The company’s sampling has revealed monazite content levels of up to 73%, alongside 35% rutile and 28% zircon. Monazite is valued at about 3-fold rutile and zircon, offering a potentially lucrative opportunity.

PUA also averaged 2.4% heavy mineral content over 47 drill holes covering 121 square kilometres, with every hole returning mineralisation.

LAGGARDS

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.