Top 10 at 11: ASX gives up gains as Wall Street retreats from highs
The ASX is rotating back into defensive mode this morning, absorbing the impacts from weakness in US markets. Pic: Getty Images
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 in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Wall Street leads market lower
The ASX 200 has retreated back into defensive mode as Wall Street pulled back from record highs last night.
The ASX is down about 28 points or 0.32% as of about 10:40 AEST, with six sectors lower.
Info tech is up 1.05% and one of the few sectors to be making any proper progress.
That’s despite a retreat in US tech stocks overnight that saw Apple and Microsoft fall 1.56% and 0.47% respectively.
The US session was otherwise fairly uneventful, except for US Highway Traffic regulators announcing an investigation into Tesla’s cars equipped with the Full Self-Driving System. Tesla itself dipped 0.7%.
Back in Australia, gold futures slid 2.4% to US$3972 overnight before swiftly recovering to US$4000 per ounce once again.
There’s a good chance there’ll be some more movement in rare earths, lithium and other critical minerals stocks today, after China imposed further export restrictions on the minerals yesterday.
SMALL CAP WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DTM | Dart Mining NL | 0.0065 | 63% | 1.21E+08 | $5,498,227 |
| PAB | Patrys Limited | 0.002 | 33% | 20228 | $6,875,635 |
| PRM | Prominence Energy | 0.004 | 33% | 6000000 | $2,667,529 |
| SFG | Seafarms Group Ltd | 0.002 | 33% | 5007361 | $7,254,899 |
| TEG | Triangle Energy Ltd | 0.004 | 33% | 4098000 | $6,603,702 |
| PLC | Premier1 Lithium Ltd | 0.009 | 30% | 2851024 | $2,541,918 |
| C7A | Clara Resources | 0.005 | 25% | 100000 | $2,973,180 |
| KNG | Kingsland Minerals | 0.135 | 17% | 810674 | $9,204,295 |
| TAR | Taruga Minerals | 0.014 | 17% | 770580 | $8,565,049 |
| CC9 | Chariot Corporation | 0.245 | 14% | 633690 | $34,388,525 |
In the news…
Dart Mining (ASX:DTM) has unearthed some particularly high-grade antimony and gold rock chips at the Connambula gold-antimony project in Queensland.
The company collected samples from float and in situ veins grading up to 65.3% and 55.5% antimony. The rock chips also included gold grades of up to 17g/t and silver grades of up to 97.9g/t.
Triangle Energy (ASX:TEG) has secured three new service contracts in the Philippines, gaining access to an onshore gas discovery block in the Cagayan Basin and two offshore blocks in the Sandakan Basin of the Sulu Sea.
The offshore blocks – PDA-2 and PDA-3 – hold contingent resources of 470 Bcf gas and 5MMbbl condensate at a 2C confidence level.
SMALL CAP LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DTZ | Dotz Nano Ltd | 0.054 | -23% | 161767 | $45,101,087 |
| FHS | Freehill Mining Ltd. | 0.004 | -20% | 14741711 | $17,069,268 |
| NAE | New Age Exploration | 0.002 | -20% | 24683 | $6,764,779 |
| PIL | Peppermint Inv Ltd | 0.002 | -20% | 99799 | $6,272,552 |
| TOU | Tlou Energy Ltd | 0.017 | -15% | 8847 | $25,971,686 |
| MGL | Magontec Limited | 0.21 | -14% | 5498 | $13,955,647 |
| CHM | Chimeric Therapeutic | 0.003 | -14% | 8173 | $11,390,956 |
| RNX | Renegade Exploration | 0.006 | -14% | 5400000 | $14,364,211 |
| AKN | Auking Mining Ltd | 0.007 | -13% | 2788318 | $6,527,972 |
| RGL | Riversgold | 0.007 | -13% | 6891282 | $16,669,701 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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