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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.
Briefly, here’s what’s been happening already this morning: The ASX 200 has opened slightly higher this morning, but it’s pretty volatile in the opening minutes of the session.
The lion’s share of the gains have come through the Materials sector (+2.1% in 20 minutes) and that’s due to the enormous stimulus that China’s announced this week, driving up metals prices quite a bit.
The good news for the Aussie economy is that iron ore prices jumped more than 4.0% overnight, back over the psychologically important US$100/tonne mark.
Oil, however, is not faring so well, with prices down again overnight, despite Israel’s sabre rattling at the UN which have significantly deepened concerns about a serious ground campaign in Lebanon, and trouble spreading beyond that to the wider Middle East.
At home, we’re all up in arms about the supermarkets, after the ACCC dropped its interim report which – spoiler alert – is highly critical of Coles and Woolies.
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| AMD | Arrow Minerals | 0.002 | 100.0 | 2,783,888 | $12,689,365 |
| DOU | Douugh | 0.006 | 100.0 | 16,604,216 | $3,246,207 |
| IVX | Invion | 0.003 | 50.0 | 10,583,988 | $13,533,183 |
| MTL | Mantle Minerals | 0.002 | 33.3 | 1,500,000 | $9,296,169 |
| NTM | Nt Minerals | 0.004 | 33.3 | 3,500,117 | $3,052,209 |
| 4DX | 4Dmedical | 0.56 | 25.8 | 3,551,598 | $182,686,368 |
| RIL | Redivium | 0.006 | 20.0 | 7,490,986 | $13,734,274 |
| ALV | Alvomin | 0.095 | 18.8 | 120,000 | $9,372,711 |
| NYR | Nyrada Inc. | 0.068 | 17.2 | 1,010,515 | $10,568,104 |
| CRI | Critica | 0.014 | 16.7 | 1,750,000 | $32,049,609 |
Douugh (ASX:DOU) was charging hard early on Friday morning on news that it has signed a binding agreement to acquire US B2B fintech services platform R-DBX, in a deal that the company says will provide it with a stable positive income stream which in 2023 generated $1.1 million. Douugh has also secured $1 million in working capital via a loan from US-based Relentless Fintech Partners.
4D Medical (ASX:4DX) was up on news that it has signed a comprehensive distribution agreement with Philips, to help the company establish a transformative commercialisation pathway in the United States. Under the terms of the deal, Philips will have exclusive distribution rights to the 4DMedical suite of products with US government customers and non-exclusive rights with all other US customers.
Nyrada (ASX:NYR) , a drug development company specialising in novel small molecule therapeutics, was climbing on news of the successful completion of a dog toxicology study for its lead candidate, NYR-BI03. The study provided continuing data to support safety and tolerability of the drug, and Nyrada says it is on track to commence first in-human Phase I clinical trial for NYR-BI03 in late CY2024.
On the wrong side of the ledger, large cap Star Entertainment Group (ASX:SGR) has come out of a prolonged trading halt this morning, and it has been butchered by a massive sell-off, shedding more than 51% in minutes and slashing its $1.3 billion market cap to less than $600 million. The company released its unaudited FY24 results, reporting an “FY24 statutory net loss of $1,685 million after significant items”.
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| SGR | Star Entertainment Grp | 0.22 | -51.1 | 125,837,512 | $1,290,906,395 |
| RIE | Riedel Resources | 0.001 | -50.0 | 100,000 | $4,447,671 |
| LPD | Lepidico | 0.002 | -33.3 | 277,775 | $25,767,375 |
| RNE | Renu Energy | 0.0015 | -25.0 | 1,979,250 | $1,608,268 |
| YAR | Yari Minerals | 0.003 | -25.0 | 300,000 | $1,929,431 |
| ECT | Env Clean Tech | 0.002 | -20.0 | 2,022 | $7,929,526 |
| EVR | EV Resources | 0.004 | -20.0 | 1,940,000 | $6,981,357 |
| SFG | Seafarms Group | 0.002 | -20.0 | 10,000 | $12,091,498 |
| IBG | Ironbark Zinc | 0.0025 | -16.7 | 42,850 | $5,500,943 |
| BEZ | Besra Gold | 0.079 | -15.1 | 875,994 | $38,640,472 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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