ASX Runners of the Week: Amplia, archTIS and Vanadium Resources
The ASX continued at near all-time highs this week, pulling back a fraction by Friday, as conflict between Iran and Israel continued to rise.
The oil price surged a further 10 per cent this week as Israel turned its focus from Iran's nuclear facilities to targeting its oil and gas infrastructure.
Uranium stocks were the week's main winners. Surprisingly, they were not fuelled directly by global drivers, but rather by investment heavyweight Sprott's physical uranium trust purchase of $200 million worth of uranium oxide, which was announced on Monday.
The result for uranium stocks on the index was deafening. Uranium miners Boss Energy, Paladin Energy and Deep Yellow were among the most heavily shorted on the ASX, making up three of the top 10 shorted companies. A sharp increase in uranium caused a two-fold effect of en masse buying and short seller panic to close out positions, with the big three uranium stocks all surging up 20 per cent on the day.
In a rare shake-up, no Australian-based resource companies feature on this week's Bulls N' Bears' ASX Runners list. Instead, the chocolates went to a groundbreaking Aussie biotech story, which could be on to the makings of one of the biggest breakthroughs in oncology treatment in years.
Up 339% (5.7c – 25c)
This week's Bulls N' Bears ASX Runner of the Week is biotech trailblazer Amplia Therapeutics, which sent the market into an absolute tailspin thanks to a jaw-dropping set of results from a clinical trial for incredibly nasty pancreatic cancer.
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Video Player is loading. Play Video Play Next playlist item Mute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Close Modal Dialog This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Play Mute Current Time 0:00 / Duration 0:00 Loaded : 0% Stream Type LIVE Seek to live, currently playing live LIVE Remaining Time - 0:00 Picture-in-Picture Fullscreen How are rate cuts influencing buyer activity? 02:39 Millions of homeowners will benefit from the Reserve Bank of Australia's latest rate cut but it may be a bit too early to start celebrating. The RBA cut the official cash rate by 0.25 percentage points on August 12 to 3.6 per cent, bringing relief to many mortgageholders. But while many of the major banks have passed on the rate cut, borrowers won't necessarily see their repayments drop immediuately. Research by says that if even if a bank passes on the rate cut as most lenders won't adjust repayments until the start of your next monthly billing cycle. For example, if your billing cycle starts on the 15th, your lower repayments won't take effect until September 15 — despite your rate dropping on a date prior to that. In short, your interest starts falling straight away, but your actual repayment amount might not change for a few weeks. MORE NEWS: Bankrupt property spruiker cops new $1m blow Mystery speed sign swap stuns Aussie town Block team confronted after shock move mortgage expert Debbie Hays said the key to understanding when your repayments will reduce comes down to knowing how your billing cycle works. 'Mortgage interest is calculated daily but charged monthly in arrears,' Hays said. 'In other words, your lender calculates your interest and repayments based on the balance of your loan and the interest rate over the past 30 days, which is why changes to repayments don't take effect immediately after a rate cut. 'Even if you make your mortgage repayments weekly or fortnightly, most lenders still operate on a monthly billing cycle. 'If you're unsure when your billing cycle starts, check your home loan statements for the date your interest balance is applied.' But Hay said that while some lenders automatically reduce your mortgage repayments when they pass on a rate cut, others require you to contact them to request the adjustment. Understanding your mortgage billing cycle Your billing cycle is usually tied to your loan settlement date. So, if your loan was settled on the 15th of X month — your billing cycle likely starts on the 15th of each month moving forward. This cycle determines when interest is calculated and applied to your loan, as well as when your repayments are due. Even if you pay weekly or fortnightly, your lender still tracks interest and repayment schedules based on this monthly cycle — which is why changes like rate cuts may not immediately show up in your repayment amount until the next cycle begins. How much homeowners will save with the August rate cut A borrower with a $600,000 mortgage will save an additional $90 per month from the August rate cut, bringing total monthly savings to $273 since the RBA began lowering rates. For a $1 million mortgage, the August cut alone will reduce repayments by $150 per month, with total monthly savings reaching $456 since the start of the cutting cycle.
