ASX lifts as energy sector leads gains
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Cheery start to the morning
The ASX has started the day off with a quiet but positive open, dipping slightly at first before moving into positive territory.
At the time of writing, we're up 0.17% in the first hour of trade. Energy is leading gains (+0.74%) alongside healthcare, consumer discretionary, staples and financials.
Oil prices jumped 3.5% overnight to US$72.51 a barrel of brent as US President Trump threatened Russia with fresh sanctions should they fail to negotiate a ceasefire with Ukraine.
Gold also ticked up 0.4% to US$3324 an ounce and iron ore appreciated 0.3% to US$98.98 a tonne as markets anticipated more thawing in US-China relations ahead of the next round of trade talks.
Back on the ASX, the top 7 banks index is providing some support (+0.32%), while the ASX 200 Resources (-0.07%) and All Ords Gold (-0.03%) indices hover in vaguely negative territory and the All Tech retreats -0.76%.
WINNERS
Code Name Last % Change Volume Market Cap MX1 Micro-X Limited 0.084 35% 668310 $41,366,540 SFG Seafarms Group Ltd 0.002 33% 583466 $7,254,899 SP3 Specturltd 0.016 33% 3536664 $3,802,801 BSA BSA Limited 0.12 33% 4432767 $6,777,023 ECT Env Clean Tech Ltd. 0.0025 25% 4252072 $8,030,871 MOH Moho Resources 0.005 25% 880329 $2,981,656 PIM Pinnacleminerals 0.048 20% 298948 $1,818,533 H2G Greenhy2 Limited 0.019 19% 110000 $11,006,589 IPB IPB Petroleum Ltd 0.007 17% 11020 $4,238,418 M4M Macro Metals Limited 0.007 17% 325588 $23,864,505
In the news...
Cold cathode x-ray technology specialist Micro-X (ASX:MX1) has tapped into a nationwide network of 700 hospitals, surgical centres and outpatient facilities with a new supply agreement through a major US healthcare provider, the first of its kind for the company.
MX1 will provide its Rover Plus mobile radiology system to interested facilities over an initial agreement period of three years. The company is in discussions with a second major procurement group for a similar supply agreement.
Remote surveillance company Spectur (ASX:SP3) increased both total revenue (+10%) and recurring revenue (+20%) year-on-year, bringing in positive operating cash flow of $263k for the financial year.
SP3 has been aggressively restructuring in recent months, reducing staff costs from $970k in the third quarter to $715k in the fourth. The company also ramped up R&D spending in a move to upgrade cloud infrastructure and software systems.
Pinnacle Minerals (ASX:PIM) is climbing despite launching a $1.76m share placement at $0.04 per share, a more than 25% discount on its intraday trading price of $0.054 a share. PIM is also offering a free attaching option at $0.08 each for every two shares subscribed for.
The fresh capital will go to exploration programs at the Adina East project in Quebec next door to several significant lithium projects and Pinnacle's rare earth and heavy mineral sands projects in Australia.
LAGGARDS
Code Name Last % Change Volume Market Cap SCP Scalare Partners 0.14 -22% 15500 $7,530,304 CZN Corazon Ltd 0.002 -20% 4000000 $2,961,431 JAV Javelin Minerals Ltd 0.002 -20% 3415417 $15,630,562 AMS Atomos 0.005 -17% 31450 $7,290,111 SHE Stonehorse Energy Lt 0.005 -17% 100000 $4,106,610 ENT Enterprise Metals 0.003 -14% 150 $4,799,610 GTR Gti Energy Ltd 0.003 -14% 2271683 $13,029,292 M2R Miramar 0.0035 -13% 242500 $3,987,293 FHS Freehill Mining Ltd. 0.004 -11% 690000 $15,362,341 MPR Mpower Group Limited 0.008 -11% 43068 $3,093,330
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Top 10 at 11: ASX positive after muted open as Micro-X nets first major US supply deal
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