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 hasn’t had much of a lead-in from overseas markets last night, with fears over a US slowdown putting pressure on banking and energy stocks in New York and Europe – so we can probably expect something similar here today.

Local markets have opened broadly flat, but tech stocks have slumped to be down more than 1.0% this morning, alongside Energy sector shares.

 

WINNERS

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

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Petratherm (ASX:PTR) was climbing quickly on Wednesday morning on news that mapping, surface sampling, and re-assaying of historic drilling has discovered high-grade titanium rich heavy mineral sands (HMS) over several kilometres at the Muckanippie Project, southwest of Coober Pedy in South Australia.

XReality Group (ASX:XRG) – formerly Indoor Skydive Australia – was up on news that the company has signed a US$5.6 million deal with the US Department of Defense to deliver a new immersive training capability and includes supplying Operator XR system licenses along with R&D services.

Melbana Energy (ASX:MAY) says that initial development of Unit 1B from the Alameda-2 well has been formally approved and is on track for Q1 2025. The company reported that it has received construction approval for the next Unit 1B well pad, and there are additional pads progressing through the permitting process.

Invion (ASX:IVX) has reported this morning that the company has been granted Human Research Ethics Committee (HREC) approval for its open label Phase I/II trial on patients with non-melanoma skin cancers (NMSC) using topical INV043. The company has secured all the necessary regulatory approvals for patient screening, treatment and follow-up, which are expected to commence from next month.

And up the top end of town, Mineral Resources (ASX:MIN) announced after hours yesterday that it has received unconditional approval from the the Foreign Investment Review Board for the sale of a 49% interest in the Onslow Iron haul road (Haul Road) to investment funds managed by Morgan Stanley Infrastructure Partners (MSIP) for total expected proceeds of $1,300 million.

 

LAGGARDS

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

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