Top 10 at 11: ASX up again as Trump shows softening stance on China
Markets are looking optimistic amid US-China trade war unwind. 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 top 10 data is taken at 10.15am, once trading kicks off in earnest.
The S&P/ASX 200 was up 0.42% as of 10.50am AEST, tracking strong gains on Wall Street overnight as US President Donald Trump showed a softening stance on China tariffs.
The tech-heavy Nasdaq index climbed 2.5%, the S&P 500 index was up 1.7% and the Dow Jones rose 1%.
US 10-year bond yields settled flat at ~4.39%
Among commodities, global benchmark Brent crude is trading higher at ~$US66 per barrel, while gold is up to trade at $US3330.74 per ounce. Iron ore is trading at $US100.09 per tonne.
Cryptocurrency giant bitcoin remains above $US93,000, while the Aussie dollar is trading ~US64c.
Back on the local bourse, nine of the 11 sectors opened in the green with materials leading the gainers, up 1.06%, followed by tech (+0.6%). Energy was down 1.49%, followed by consumers staples (-0.69%).
WINNERS
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| TKL | Traka Resources | 0.002 | 100% | 848,136 | $2,125,790 |
| 88E | 88 Energy Ltd | 0.0015 | 50% | 145,714 | $28,933,812 |
| GMN | Gold Mountain Ltd | 0.002 | 33% | 423,044 | $7,193,970 |
| RLG | Roolife Group Ltd | 0.005 | 25% | 600,000 | $5,984,125 |
| TNC | True North Copper | 0.235 | 21% | 228,758 | $24,538,608 |
| AUR | Auris Minerals Ltd | 0.006 | 20% | 8,787,422 | $2,383,130 |
| AZL | Arizona Lithium Ltd | 0.006 | 20% | 8,690,937 | $22,809,073 |
| KPO | Kalina Power Limited | 0.006 | 20% | 339,656 | $14,471,099 |
| LIT | Livium Ltd | 0.01 | 18% | 5,217,045 | $14,369,311 |
| AVR | Anteris Technologies | 6.58 | 17% | 4,177 | $86,519,608 |
Gold Mountain (ASX:GMN) is up 33% in morning trade after reporting four significant copper-gold anomalies have been identified, extending across a 20 km north-south corridor at its Ararenda Project, in northeast Brazil.
GMN said the anomalies were in partly derived from a known iron and copper mineralised zone underlain by a major IP anomaly that extends into GMN tenements.
Livium (ASX:LIT) is up 18% after announcing that its wholly-owned subsidiary Envirostream Australia had signed a new battery recycling agreement on a subcontractor basis with Sell & Parker Pty Ltd.
“This agreement with Sell & Parker has the potential to be Envirostream’s largest ever recycling contract on a revenue basis,”CEO and managing director Simon Linge said.
LOSERS
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| ADD | Adavale Resource Ltd | 0.001 | -50% | 2,799 | $4,574,558 |
| CR9 | Corellares | 0.002 | -33% | 2,994,561 | $1,904,722 |
| CRR | Critical Resources | 0.003 | -25% | 1,126,789 | $9,856,885 |
| RGL | Riversgold | 0.004 | -20% | 750,100 | $8,418,563 |
| MKL | Mighty Kingdom Ltd | 0.005 | -17% | 200,000 | $1,932,303 |
| DTZ | Dotz Nano Ltd | 0.06 | -14% | 61,040 | $39,642,907 |
| IBX | Imagion Biosys Ltd | 0.012 | -14% | 16,575 | $2,818,780 |
| GT1 | Green Technology Metals | 0.033 | -13% | 1,091,144 | $14,772,580 |
| OLH | Oldfields Holdings | 0.04 | -13% | 63,662 | $9,800,720 |
| GDG | Generation Development Group | 4.22 | -13% | 1,189,330 | $1,875,886,254 |
Financial services company Generation Development Group (ASX:GDG) is down 13% in morning trade after releasing its March quarter update, which included FUM of $26.8 billion for Evidentia Group.
The company said it had further strengthened its leadership in the investment bonds market, reaching $3.95bn in FUM, up 23% on PCP, and achieving record quarterly inflows of $239m, up 55%.
In his address to shareholders former Aussie swim star and GDG CEO Grant Hackett said the company delivered a strong performance in the March quarter, with all businesses contributing to growth despite continued market volatility.
“The group remains well-positioned with a robust financial profile, strong net inflows, and clear strategic momentum,” Hackett said.
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