Closing Bell: ASX breaks through to record new closing high
10 of 11 sectors higher with broad strength across market
Materials leads gains, up 1.38pc
ASX almost breaks through 8600-point ceiling
The ASX 200 had one of its best trading days in months, rising 0.66% on broad strength across every sector except info tech.
It was looking like the Aussie bourse would break through the 8600-point ceiling, but a minor last-minute pullback saw us finish the day at 8597.7 points, breaking the last closing record of 8592.
Materials (+1.38%) and real estate (+1.77%) led gains, but huge swathes of the market were in the green today.
Info tech was the only pain point, shedding 0.73%, but it was small potatoes compared to gains made elsewhere.
Ironically, the ASX All Tech index still tipped into the green, adding 0.25% as the 46 stocks within the benchmark outperformed their peers.
All four banks forecast July interest rate cut
ANZ was the last major bank to change its RBA interest rate cut forecast today, switching its prediction from August to July.
The change comes after some soft retail sales data and gloomy consumer confidence stats amid ongoing global uncertainty.
'Given today's data showing a weak six-month trend in retail sales, the most recent reads on consumer confidence showing the prior uptrend remains stalled and ongoing uncertainty around US trade policy as we approach the expiry of the tariff pause, we now expect the RBA to cut the cash rate by 25bp at its July meeting," ANZ Research noted.
AMP's economists reckon it won't be the last this year.
"While we continue to see conditions improving from here thanks to lagged impacts from the cuts since February, recent disappointing data points to further cuts from the RBA to deliver more to boost the economy," AMP notes.
"Our base case is for four more cuts in July, August, November and February."
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Security Name Last % Change Volume Market Cap
LLM Loyal Metals Ltd 0.225 73% 8775201 $13,095,298
LAT Latitude 66 Limited 0.038 65% 2008053 $3,298,216
AN1 Anagenics Limited 0.006 50% 423765 $1,985,281
IPB IPB Petroleum Ltd 0.006 50% 2580442 $2,825,612
PKO Peako Limited 0.003 50% 120000 $2,975,484
SIS Simble Solutions 0.006 50% 6284642 $4,329,321
EEL Enrg Elements Ltd 0.002 33% 792525 $4,880,668
IS3 I Synergy Group Ltd 0.002 33% 1481093 $2,253,285
SRN Surefire Rescs NL 0.002 33% 1748880 $3,729,668
NHE Nobleheliumlimited 0.025 32% 829682 $11,390,975
T92 Terrauraniumlimited 0.038 31% 2952990 $2,955,546
CAN Cann Group Ltd 0.014 27% 3119052 $6,997,938
OCN Oceanalithiumlimited 0.063 26% 204757 $8,301,341
ADG Adelong Gold Limited 0.005 25% 1917076 $8,274,707
DDT DataDot Technology 0.005 25% 75858 $4,843,811
GGE Grand Gulf Energy 0.0025 25% 975833 $5,640,850
RLG Roolife Group Ltd 0.005 25% 17000 $6,371,125
DY6 Dy6Metalsltd 0.145 23% 2492717 $8,749,344
ION Iondrive Limited 0.044 22% 4322377 $42,582,108
RPG Raptis Group Limited 0.086 21% 45247 $24,898,625
TAT Tartana Minerals Ltd 0.035 21% 138499 $6,210,231
SHE Stonehorse Energy Lt 0.006 20% 1351898 $3,422,175
TSL Titanium Sands Ltd 0.006 20% 833333 $11,723,736
VMLDB Vital Metals Limited 0.08 19% 15353 $7,899,390
G50 G50Corp Ltd 0.155 19% 135148 $20,877,696
Making news…
Latitude 66 (ASX:LAT) is offloading its 17.5% interest in the Greater Duchess joint venture project, triggering a right of first refusal for JV partner Carnaby Resources (ASX:CNB).
LAT is looking to sell its interest for $2m, with some conditional payments on the table of up to $4m in cash or ASX-listed shares if the project is sold within 90 days of the transaction. Latitude has also set up a $750k loan facility with Argonaut to keep the wheels greased in the meantime.
Loyal Metals (ASX:LLM) has locked down the Highway Reward copper-gold mine in Queensland, historically one of the highest-grade copper mines to operate.
There's been no new exploration on the land since 2005, and previous mining only drilled down to 220 metres for the open pit and 390 metres for the underground slope. LLM reckons modern exploration techniques will unlock the project's hidden copper and gold potential.
Terra Uranium (ASX:T88) is also expanding its mineral portfolio after acquiring Dundee Resources. Dundee is bringing the Glen Eden, Bald Nob and Deepwater projects to T88's ledger with potential for tin, tungsten, molybdenum, silver and base metals.
Glen Eden is of particular interest to Terra; it reckons it's the largest undeveloped tungsten-molybdenum project in New South Wales, host to an exploration target of 20 to 30Mt at 0.18% to 0.29% tungsten equivalent.
Surefire Resources (ASX:SRN) hit a 65-metre section of visible sulphides in its latest drilling program at the Yidby gold project, identifying new zones of quartz porphyry prospective for gold mineralisation.
SRN has fired off 284 samples for assay, encouraged by the initial indicators of progress from the 15-hole program over 1909 total metres of drilling.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Security Name Last % Change Volume Market Cap
SKN Skin Elements Ltd 0.002 -33% 9290 $3,225,642
UBI Universal Biosensors 0.025 -29% 391300 $10,432,360
AOA Ausmon Resorces 0.0015 -25% 186447 $2,622,427
C29 C29Metalslimited 0.014 -22% 7663813 $3,135,388
MMR Mec Resources 0.004 -20% 814645 $9,248,829
PIL Peppermint Inv Ltd 0.002 -20% 100000 $5,752,724
RDN Raiden Resources Ltd 0.004 -20% 740507 $17,254,457
VHL Vitasora Health Ltd 0.032 -18% 8372418 $61,504,061
TAS Tasman Resources Ltd 0.014 -18% 444464 $4,748,997
AVD Avada Group Limited 0.1 -17% 15000 $10,192,203
AZL Arizona Lithium Ltd 0.005 -17% 754677 $31,621,887
BNL Blue Star Helium Ltd 0.005 -17% 2138225 $16,169,312
ICG Inca Minerals Ltd 0.01 -17% 4990864 $18,916,681
PRM Prominence Energy 0.0025 -17% 17500 $1,459,411
CUS Coppersearchlimited 0.016 -16% 102995 $3,018,941
FCT Firstwave Cloud Tech 0.016 -16% 1514451 $32,556,855
VMT Vmoto Limited 0.081 -16% 2426 $37,699,804
GRV Greenvale Energy Ltd 0.028 -15% 1298357 $17,964,320
AM5 Antares Metals 0.007 -13% 200000 $4,118,823
KRR King River Resources 0.007 -13% 7193441 $11,853,903
RGL Riversgold 0.0035 -13% 367757 $6,734,850
RNX Renegade Exploration 0.0035 -13% 2091683 $5,153,454
VBX VBX Limited 0.625 -12% 684883 $28,877,408
MDR Medadvisor Limited 0.075 -12% 1302096 $53,106,730
SPG Spc Global Holdings 0.3 -12% 193423 $65,613,840
IN CASE YOU MISSED IT
Break it Down: Trigg Minerals (ASX:TMG) takes in $12.5m strategic backing for North American antimony.
Harvest Technology Group (ASX:HTG) has subscribed for an initial $255,000 worth of convertible notes in TRU Recognition Holdings as it considers potential synergies between the respective technologies.
Pioneer Lithium (ASX:PLN) has completed the first part of a two-phase soil sampling program at the Skull Creek uranium project in the US.
Neurizon Therapeutics (ASX:NUZ) has inked a global licensing deal with Elanco Animal Health and affiliates for monepantel, the active pharmaceutical ingredient in ALS drug candidate NUZ-001.
LAST ORDERS
Lithium Universe (ASX:LU7) is extending into the solar panel recycling sector after acquiring the Microwave Joule Heating Technology through an exclusive licensing agreement with Macquarie University.
TRADING HALTS
Adavale Resources (ASX:ADD) – cap raise
Australian Pacific Coal (ASX:AQC) – Dartbrook operator update
Provaris Energy (ASX:PV1) – cap raise
Rimfire Pacific Mining (ASX:RIM) – arbitration announcement
TruScreen Group (ASX:TRU) – cap raise
Zimi Limited (ASX:ZMM) – cap raise
At Stockhead, we tell it like it is. While Lithium Universe is a Stockhead advertiser, it did not sponsor this article.
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Daily Telegraph
2 hours ago
- Daily Telegraph
The Sell: Lingerie queen finds bolthole at Circular Quay
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Honey Birdette founder Eloise Monaghan and her wife, photographer Rebecca Collinson-Smith, have bought a bolthole in Sydney. Picture: The couple spent $6.39m on the largest two-bedroom floorplan on the harbourside of Opera Residences at Circular Quay. Picture: Records show it first sold for $5.9m in 2022 and then $6.35m just 10 months later. Their ownership is divided 78 per cent with Monaghan and 22 per cent with Collinson-Smith, who hails from Minnamurra on the NSW Illawarra coast. Monaghan, who sold the lingerie company in 2021 to PLBY, the company behind Playboy magazine, married Collinson-Smith in Sydney last December with Graeme Collinson-Smith, father of the bride, as the marriage celebrant. The couple have recently collaborated in launching Collinson-Smith's swim and resort-wear brand Hunting Hue which has an outlet in The Rocks. 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News.com.au
4 hours ago
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The Advertiser
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- The Advertiser
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"We have a considerable defence and security presence throughout the Pacific and that's very much, in these uncertain times, in Australia's interests," he said. "One of the ways that we cement that is through those personal relations." Mr Albanese was keen to highlight Australia's upgraded defence and security relationships with Fiji, PNG, Tuvalu, Nauru and other smaller nations in the Pacific. "We are family and we assist each other as friends, not with strings attached," he said. "What we do is we help each other out because of our common interests and our common values." Mr Rabuka met with Governor-General Sam Mostyn at Government House in Canberra earlier this week. In a keynote address at the National Press Club on Wednesday, he spoke glowingly of bilateral ties between Suva and Canberra in a deteriorating world. "Unfortunately for now, I contest the region's outlook is more uncertain than at any time since Fiji's independence in 1970," he said. "Perhaps we have reached a point in our Fiji-Australia relationship where a renewed and elevated Vuvale partnership needs a further step-up to an agreement for a treaty." Anthony Albanese has hailed the importance of personal relationships with Pacific nations at a time when other powers are seeking to increase their influence. The prime minister, who will host Fijian counterpart Sitiveni Rabuka when the Wallabies take on Fiji in their one-off Rugby Union Test in Newcastle on Sunday, reiterated the importance of soft diplomacy in the region. "Relationships between nations essentially come down to relationships between people," he told ABC Radio on Saturday. "It is a great way in which our nations can show our commonality. We are all members of the Pacific family." Australia has provided $10 million over seven years for the Fijian Drua women's and men's teams in the Super Rugby Pacific and Australia Super W competitions. Some $600 million over a decade for a PNG NRL team had also cemented the relationship between the two neighbouring nations, Mr Albanese said. He said investments in sports were linked with education and economic development, resulting in better health outcomes and stronger, more secure and smarter Pacific populations. At a time when the United States is pulling away and China and Russia are trying to increase their influence, the prime minister stressed the importance of positioning Australia as the partner of choice. "We have a considerable defence and security presence throughout the Pacific and that's very much, in these uncertain times, in Australia's interests," he said. "One of the ways that we cement that is through those personal relations." Mr Albanese was keen to highlight Australia's upgraded defence and security relationships with Fiji, PNG, Tuvalu, Nauru and other smaller nations in the Pacific. "We are family and we assist each other as friends, not with strings attached," he said. "What we do is we help each other out because of our common interests and our common values." Mr Rabuka met with Governor-General Sam Mostyn at Government House in Canberra earlier this week. In a keynote address at the National Press Club on Wednesday, he spoke glowingly of bilateral ties between Suva and Canberra in a deteriorating world. "Unfortunately for now, I contest the region's outlook is more uncertain than at any time since Fiji's independence in 1970," he said. "Perhaps we have reached a point in our Fiji-Australia relationship where a renewed and elevated Vuvale partnership needs a further step-up to an agreement for a treaty." Anthony Albanese has hailed the importance of personal relationships with Pacific nations at a time when other powers are seeking to increase their influence. The prime minister, who will host Fijian counterpart Sitiveni Rabuka when the Wallabies take on Fiji in their one-off Rugby Union Test in Newcastle on Sunday, reiterated the importance of soft diplomacy in the region. "Relationships between nations essentially come down to relationships between people," he told ABC Radio on Saturday. "It is a great way in which our nations can show our commonality. We are all members of the Pacific family." Australia has provided $10 million over seven years for the Fijian Drua women's and men's teams in the Super Rugby Pacific and Australia Super W competitions. Some $600 million over a decade for a PNG NRL team had also cemented the relationship between the two neighbouring nations, Mr Albanese said. He said investments in sports were linked with education and economic development, resulting in better health outcomes and stronger, more secure and smarter Pacific populations. At a time when the United States is pulling away and China and Russia are trying to increase their influence, the prime minister stressed the importance of positioning Australia as the partner of choice. "We have a considerable defence and security presence throughout the Pacific and that's very much, in these uncertain times, in Australia's interests," he said. "One of the ways that we cement that is through those personal relations." Mr Albanese was keen to highlight Australia's upgraded defence and security relationships with Fiji, PNG, Tuvalu, Nauru and other smaller nations in the Pacific. "We are family and we assist each other as friends, not with strings attached," he said. "What we do is we help each other out because of our common interests and our common values." Mr Rabuka met with Governor-General Sam Mostyn at Government House in Canberra earlier this week. In a keynote address at the National Press Club on Wednesday, he spoke glowingly of bilateral ties between Suva and Canberra in a deteriorating world. "Unfortunately for now, I contest the region's outlook is more uncertain than at any time since Fiji's independence in 1970," he said. "Perhaps we have reached a point in our Fiji-Australia relationship where a renewed and elevated Vuvale partnership needs a further step-up to an agreement for a treaty."
