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 a little lower this morning, tracking Wall Street down after the S&P and the Nasdaq took a hit overnight – which, in turn, is being (partially) blamed on Dutch chipmaker ASML coming a cropper after it missed earnings and revised its 2025 forecast down.

ASML fell 16% – which is not a small quantity – dragging other chipmakers, including market monster Nvidia down with it.

Oil prices are down – again – after Israel promised it wasn’t going to target Iranian oil, and China’s stubborn lack of ‘getting any better’ continued to weigh on demand. Weak Chinese demand also had an effect on iron ore prices overnight, and that dipped 1.14% to US$106.40 per tonne.

30 minutes in, and the ASX 200 is down 0.35% or thereabouts, with the goldies and the banks the only slabs of the market treading water, while the rest of the sectors sink slowly beneath the waves.

Ah, Wednesday… will you ever just be nice?

 

WINNERS

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

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Drug discovery and development company Nyrada (ASX:NYR) was up after the company announced the successful completion of the final GLP safety study for its lead candidate NYR-BI03, a first-in-class neuroprotection treatment for stroke and traumatic brain injury. The company says this latest step has “confirmed a favourable safety profile for NYR-BI03, giving us confidence that it will transition well into human studies”.

GTI Energy (ASX:GTR) was up after releasing an investor presentation this morning, focused on its Lo Herma uranium play in Wyoming, which the company says is currently “the only “junior”in Wyoming with compliant ISR uranium resources”, with current drilling underway aimed at a providing a resource upgrade and scoping study. Currently, the company says it has an inferred resource of 7.4 Mlbs so far in Wyoming, and at an $80/lb contract price, that makes Wyoming ISR projects “very attractive”.

TMK Energy (ASX:TMK) was up after announcing a three day extension to the closing date of Entitlement Issue (Offer), which will now close at 5.00pm (AWST) Friday 25 October 2024 to allow additional time for shareholder participation. The company also notes that directors and management have agreed to a 50% reduction in cash fees for the next 6 months, with the company aiming to reduce costs by $250,000 through the initiative, as it moves towards a commercial outcome from its 100% owned Gurvantes XXXV Coal Seam Gas Project in the South Gobi Desert of Mongolia.

 

LAGGARDS

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

Code Company Price % Volume Market Cap
ADD Adavale Resource 0.002 -33.3 50,000 $3,671,296
AHN Athena Resources 0.004 -20.0 3,080 $5,352,338
AKN Auking Mining 0.004 -20.0 2,000,000 $1,762,851
IVX Invion 0.002 -20.0 1,376,750 $16,916,479
OCN Oceana Lithium 0.036 -18.2 39,000 $3,629,912
DGR DGR Global 0.014 -17.6 52,703 $17,742,789
EEL Enrg Elements 0.0025 -16.7 2,256,000 $3,135,048
IBG Ironbark Zinc 0.0025 -16.7 1,858 $5,500,943
AL8 Alderan Resource 0.003 -14.3 54,545 $5,499,371
AUR Auris Minerals 0.006 -14.3 50,000 $3,336,382
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At Stockhead we tell it like it is. While Gti Energy is a Stockhead advertiser, it did not sponsor this article.

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