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News.com.au
15 hours ago
- Business
- News.com.au
Closing Bell: ASX goes nuclear, surging 0.89pc to approach all-time highs
ASX climbs to within 0.85pc of all-time highs Uranium stocks take off, driving Energy sector higher ASX 200 Total Return Index notched new record yesterday in show of market strength The Aussie market has surged higher after starting the day on a very strong note, maintaining momentum throughout the full day of trading to make a very convincing gain of 0.89%. The ASX is less than 1% off a new all-time high after today's trade, returning to levels not seen since February – just before US President Trump began firing off tariffs in rapid succession. The ASX200 already hit a new all-time high in terms of total return on Tuesday, as Market Index reported earlier today. The ASX 200 Total Return Index (XAOA), which tracks dividend and capital gains as well as stock movements to give a more in-depth measure of the market's real performance, broke through to 112,434 points yesterday. With two more trading days left in the week, there's a good chance the ASX will also hit new highs within the next few days. That said, Friday night is D-day for the call between Trump and Chinese President Xi Jinping, which has every chance of reigniting trade war fears. ASX glows nuclear green While the market's performance today was supported by broad strength across multiple sectors, Energy stood out, surging 2.26%. The seven major banking stocks and our Tech sector also put in some work, raising their indices 1.31% and 0.93% respectively. Nonetheless, it was once again uranium mining stocks that shone brightest, casting the ASX in a decidedly fluorescent green shade. Paladin Energy (ASX:PDN) finished the day up 9.9%, while immediate rival Boss Energy (ASX:BOE) gained 7.9%. A little further down the pecking order, Deep Yellow (ASX:DYL) jumped 5.9%, and Bannerman Energy (ASX:BNM) added 7%. There was plenty of love to go around for the small caps, too. Eclipse Metals (ASX:EPM) surged 26%, Cauldron Energy (ASX:CDN) 7.1%, Alligator Energy (ASX:AGE) 6.6% and Elevate Uranium (ASX:EL8) 5.2%. Demand for uranium has been rising in lock step with data centre build-outs by major technology companies, as they seek reliable baseline power that won't derail their emissions targets. This latest rally was set off by Meta's 20-year deal to source power from an Illinois nuclear power plant to fuel its AI data centres, as Eddy Sunarto reported earlier today. The momentum for uranium has been building even faster since Trump imposed a raft of executive orders designed to kick-start the US nuclear power industry. You can check out Stockhead's coverage of the EOs and what they mean for Australian uranium companies here. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap CDE Codeifai Limited 0.014 100% 7285387 $2,282,222 JAY Jayride Group 0.002 100% 627513 $1,427,889 MOM Moab Minerals Ltd 0.0015 50% 1984441 $1,733,666 OVT Ovanti Limited 0.003 50% 2118077 $5,587,030 ARV Artemis Resources 0.007 40% 2268993 $12,642,647 CRN Coronado Global Res 0.145 38% 49206952 $176,027,642 MTB Mount Burgess Mining 0.004 33% 2716123 $1,055,108 PNT Panthermetalsltd 0.016 33% 2549312 $3,610,855 RNX Renegade Exploration 0.004 33% 2060594 $3,865,090 SFG Seafarms Group Ltd 0.002 33% 314559 $7,254,899 GED Golden Deeps 0.024 33% 1292908 $3,188,263 IAM Income Asset 0.028 33% 4420148 $19,548,287 PEB Pacific Edge 0.105 31% 37268 $64,953,278 PGD Peregrine Gold 0.15 30% 442735 $9,757,490 ADN Andromeda Metals Ltd 0.014 27% 97462154 $41,946,774 SHN Sunshine Metals Ltd 0.014 27% 33522956 $22,964,093 EPM Eclipse Metals 0.019 27% 72449714 $42,987,285 LKY Locksleyresources 0.115 26% 28183390 $13,346,667 DTR Dateline Resources 0.145 26% 77980472 $329,338,302 ELS Elsight Ltd 1.1 26% 1886786 $159,023,560 IS3 I Synergy Group Ltd 0.005 25% 384615 $2,002,920 VRC Volt Resources Ltd 0.005 25% 547575 $18,739,112 BM8 Battery Age Minerals 0.06 22% 2842557 $5,972,699 GCM Green Critical Min 0.022 22% 60961689 $35,337,209 THR Thor Energy PLC 0.011 22% 3743647 $6,397,109 Making news… Coronado Global Resources (ASX:CRN) has locked in a $150 million loan deal with Oaktree to help ride out low coal prices and keep its liquidity plan on track. CRN will get $75 million upfront, with the rest available over the next year. The three-year facility is backed by receivables and inventory, and comes at a fixed rate below its current high-yield debt. The cash will support day-to-day operations while it finishes expansion projects at Mammoth and Buchanan. Andromeda Metals (ASX:ADN) has also secured credit approval from Merricks Capital for a $75 million debt facility to help fund the development of its Great White Project. The loan runs for 78 months, with repayments kicking off a year after the project is built, and wraps up with a 50% bullet at the end. It's not a done deal yet, and first drawdown depends on Andromeda locking in the rest of the funding needed to give Stage 1A+ the green light. Income Asset Management (ASX:IAM) had a record month of revenue in May, raking in $2.85m to bring a total of just over $4m home for the quarter so far. The company reckons it's well placed to finish the quarter out with above average revenue, anticipating revenue from a 'strong pipeline' to finish the financial year on a high note. IAM's funds under advice lifted to more than $2.37b, notching 28% growth since May 2024. A new contract with a European defence OEM customer has netted Elsight (ASX:ELS) a deal worth $7.9m. The company will provide its Halo drone operation management product under the contract, with potential to expand to other offerings. The deal is the third announced since April, bringing total contracts for this specific customer to $22.8m, a 600% increase over 2024 revenue numbers. A 70% owned subsidiary of Volt Resources (ASX:VRC) in Ukraine will begin a new graphite production campaign in June at the Zavalievsky Graphite mine despite the ongoing conflict there. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap CR9 Corellares 0.002 -33% 100000 $3,016,820 EDE Eden Inv Ltd 0.002 -33% 8578999 $12,329,643 BRX Belararoxlimited 0.059 -30% 3333716 $13,253,417 BMO Bastion Minerals 0.0015 -25% 5820000 $1,807,255 HLX Helix Resources 0.0015 -25% 291250 $6,728,387 PRM Prominence Energy 0.003 -25% 4125 $1,556,706 QXR Qx Resources Limited 0.003 -25% 8684232 $5,241,315 BEL Bentley Capital Ltd 0.009 -25% 53972 $913,535 TAS Tasman Resources Ltd 0.019 -24% 460694 $4,603,565 CAV Carnavale Resources 0.004 -20% 100001 $20,451,092 ERA Energy Resources 0.002 -20% 2975863 $1,013,490,602 OLI Oliver'S Real Food 0.004 -20% 110000 $2,703,660 TEM Tempest Minerals 0.004 -20% 1709216 $3,672,649 TMX Terrain Minerals 0.002 -20% 1712757 $5,621,392 ALY Alchemy Resource Ltd 0.005 -17% 2845795 $7,068,458 GGE Grand Gulf Energy 0.0025 -17% 3821204 $8,461,275 OMG OMG Group Limited 0.005 -17% 18933990 $4,369,769 NUC Nuchev Limited 0.16 -16% 57936 $27,804,468 CPO Culpeominerals 0.011 -15% 1998059 $3,528,886 8CO 8Common Limited 0.017 -15% 93112 $4,481,898 EQX Equatorial Res Ltd 0.12 -14% 100000 $18,402,349 FGH Foresta Group 0.006 -14% 1098845 $18,570,345 HHR Hartshead Resources 0.006 -14% 6061225 $19,660,775 NFM New Frontier 0.012 -14% 1463300 $20,408,295 ODE Odessa Minerals Ltd 0.006 -14% 831825 $11,196,728 IN CASE YOU MISSED IT The Australian Mines (ASX:AUZ) Sconi project has piqued the interest of German commodity trader HMS Bergbau as the two begin offtake talks. Geophysical remodelling has given Miramar Resources' (ASX:M2R) Whaleshark project new bite, identifying multiple high-potential IOCG targets within the project area. $75m debt facility will furnish Andromeda Metals (ASX:ADN) with funding to support development of the Great White project. Rumble Resources (ASX:RTR) has intersected more high-grade gold and critical mineral tungsten in its drilling at the near-term Western Queen Project. Pursuit Minerals (ASX:PUR) is engaging with prospective offtake and strategic partners, having dispatched high-purity carbonate samples for evaluation. ADX Energy (ASX:ADX) will receive a larger share of oil production and revenue from its Anshof oil field in Austria after reaching an agreement to acquire Xstate Resources' (ASX:XST) 20% interest in the Anshof Field Area. Star Minerals (ASX:SMS) has wrapped up a $1.6m placement as it moves to start drilling to boost resource confidence at Tumblegum South gold project. Drilling has confirmed wide copper mineralisation at the Tambo South target within Belararox's (ASX:BRX) highly prospective Toro-Malambo-Tambo project in Argentina's San Juan Province. TRADING HALTS At Stockhead, we tell it like it is. While Titanium Sands and ADX Energy are Stockhead advertisers, they did not sponsor this article.
Yahoo
3 days ago
- Business
- Yahoo
MT Newswires Canada Stocks To Watch: Cenovus; Digi Power; First Quantum; Stantec
Cenovus Energy Inc. (TSX and NYSE: CVE) provided an update on its Oil Sands operations following ong Sign in to access your portfolio
ABC News
4 days ago
- Business
- ABC News
Climate change minister insists Australia 'on track' to hit 2030 renewables target
Chris Bowen says strong investment figures will help Australia overcome challenges in reaching a 82 per cent renewables target by 2030.
Yahoo
6 days ago
- Business
- Yahoo
RBC Keeps Outperform Rating on Williams Companies (WMB) Stock
On Tuesday, May 27, RBC Capital Markets maintained an 'Outperform rating' on The Williams Companies, Inc. (NYSE:WMB) with a price target of $63. This decision came after insights from the EIC Conference. RBC analysts are more confident in the company as it is expected to announce new projects that lead to improved financial estimates. Aerial view of a power plant near a lake lit up at night, showing off the company's expansive electricity generation capabilities. The Williams Companies, Inc. (NYSE:WMB) expects to see steady progress, even as Chad Zamarin becomes the new CEO. One key project is the development of Socrates, which is a fully integrated infrastructure project that will serve as the power solution for a connected data center. The Williams Companies, Inc. (NYSE:WMB) has signed a 10-year contract for Socrates, which includes a provision for commercial reassessment at the end of the term. The company believes that if the equipment from Socrates is used as backup power after the 10-year contract, the price will be set based on the cost of replacement. According to The Williams Companies, Inc. (NYSE:WMB), this will bring a good deal. The Socrates project is also seen as a strong venture, boasting a five times build multiple under the contract terms. RBC's reiterated positive outlook reflects the belief that these new projects and strategic developments will help The Williams Companies, Inc. (NYSE:WMB) grow and improve its financial performance. The Williams Companies, Inc. (NYSE:WMB) is an American energy company that specializes in natural gas processing and transportation. The company also has petroleum and electricity generation assets and invests in new energy technologies. While we acknowledge the potential of WMB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WMB and that has a 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
7 days ago
- Business
- News.com.au
Closing Bell: ASX climbs as courts strike down Liberation Day tariffs, re-energising markets
Energy sector pushes ASX 0.15pc higher US court has ruled Trump's Liberation Day and fentanyl tariffs are unlawful Steel, aluminium and auto tariffs remain in place The ASX has posted another gain today, albeit a small 0.15% lift. News US courts had blocked Trump's tariff spree gave the market tailwinds, while the Energy sector powered higher. As has been the story in recent weeks, Info Tech and the Banks contributed handily to the Aussie market's gains, with both indices trending higher. Woodside Energy (ASX:WDS) continued its gains after receiving the green light for its North West Shelf gas project, climbing 3.05%. Capstone Copper (ASX:CSC) also continued its ascent, up 5.42% as copper's outlook continues to improve, and Liontown Resources (ASX:LTR) posted a 4.13% recovery today, although still down 3.08% for the trading week. Markets roar back to life as courts block Trump tariffs While President Trump has signalled his intention to appeal a court decision to block his Liberation Day tariffs, global markets are already celebrating. "The law is clear: no president has the power to single-handedly raise taxes whenever they like," New York attorney general Letitia James said. "These tariffs are a massive tax hike on working families and American businesses that would have led to more inflation, economic damage to businesses of all sizes, and job losses across the country if allowed to continue." Futures for US markets are sharply higher in after-hours trade. S&P500 Futures are up 1.7%, Dow Jones 1.33% and the Nasdaq 1.97%. In Asia, the Japanese Nikkei 225 soared 1.91% in trade today, while the Shanghai Composite Index has added 0.72%. The US dollar has also made a small recovery, lifting the US Dollar Index (comparing it to a basket of major currencies) 0.33% today. That pushed gold lower, sliding 0.84% to about US$3270.64. 'The Albanese government has been consistent in the view that these tariffs on Australian imports into the US are unjustified,' Australian minister for trade Don Farrell said. 'We will continue to engage and strongly advocate for the removal of tariffs.' ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap EDE Eden Inv Ltd 0.003 200% 99857288 $4,109,881 AOA Ausmon Resorces 0.002 100% 120455 $1,311,213 UCM Uscom Limited 0.019 58% 133012 $3,005,724 BP8 Bph Global Ltd 0.003 50% 786421 $2,101,969 ENL Enlitic Inc. 0.034 42% 908948 $17,313,813 EDU EDU Holdings Limited 0.28 40% 2400082 $30,110,682 TM1 Terra Metals Limited 0.036 38% 17149767 $10,793,512 RPG Raptis Group Limited 0.035 35% 255986 $4,558,903 AX8 Accelerate Resources 0.008 33% 1701649 $4,783,132 MTB Mount Burgess Mining 0.004 33% 1000000 $1,055,108 OB1 Orbminco Limited 0.002 33% 8099104 $3,596,352 TEM Tempest Minerals 0.004 33% 1709348 $2,203,590 IVX Invion Ltd 0.11 29% 1305054 $7,201,936 CDE Codeifai Limited 0.009 29% 392000 $2,282,222 PXX Polarx Limited 0.009 29% 3417728 $16,628,507 RMI Resource Mining Corp 0.029 26% 8415321 $15,304,332 OLY Olympio Metals Ltd 0.05 25% 349363 $3,522,692 C7A Clara Resources 0.005 25% 200000 $2,046,417 RDS Redstone Resources 0.005 25% 6382842 $3,701,514 NGX Ngxlimited 0.16 23% 29831 $11,779,539 RCL Readcloud 0.135 23% 151460 $16,898,174 FAL Falconmetalsltd 0.14 22% 270451 $20,355,000 OEL Otto Energy Limited 0.006 20% 33492247 $23,974,090 CHR Charger Metals 0.048 20% 190732 $3,096,810 JAV Javelin Minerals Ltd 0.003 20% 1.06E+08 $15,115,373 Making news… Eden Innovations (ASX:EDE) has captured momentum with its EdenCrete Pz7 concrete additive, a product that makes standard concrete mixes stronger and reduces the need for carbon-intensive Portland Cement. Over the past three months, sales topped US$567k. In April and May alone, sales were 86% higher than the same quarter last year. Holcim US also ordered US$91k worth of Pz7 for a 22-storey high-rise in Denver, Eden's first major commercial project. BPH Global (ASX:BP8) is preparing its first shipment of Indonesian seaweed biomass under a sales cooperation agreement with PT Kebula Raya Bestari, delivering 60 metric tonnes to South Korea-based food ingredient manufacturer MSC. Invion (ASX:IVX) just got the thumbs-up from the safety committee after treating the first six patients in its skin cancer trial. There are early signs the drug is shrinking tumours after one dose. INV043 also makes cancer cells glow under violet light, hinting it could double as a diagnostic tool. Invion is now gearing up for a second study with Peter Mac, combining the treatment with immunotherapy. After 'constructive discussions with a broad group of shareholders' EDU Holdings (ASX:EDU) has rescinded the proposed delisting of its shares from the ASX and an associated off-market buy-back offer. The board says it will consider future capital management options, remaining committed to long-term value for shareholders. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap SHP South Harz Potash 0.003 -40% 51501 $5,513,644 DMG Dragon Mountain Gold 0.004 -33% 648200 $2,368,030 MOM Moab Minerals Ltd 0.001 -33% 500000 $2,600,499 OVT Ovanti Limited 0.002 -33% 93657480 $8,380,545 WBE Whitebark Energy 0.004 -33% 276226 $4,124,001 ERL Empire Resources 0.003 -25% 199765 $5,935,653 GMN Gold Mountain Ltd 0.0015 -25% 239339 $10,267,776 CTQ Careteq Limited 0.01 -23% 1885218 $3,082,543 AXI Axiom Properties 0.03 -23% 123000 $16,875,833 MGU Magnum Mining & Exp 0.007 -22% 364290 $10,094,858 AAU Antilles Gold Ltd 0.004 -20% 179945 $10,631,838 AMS Atomos 0.004 -20% 372000 $6,075,092 AQX Alice Queen Ltd 0.004 -20% 15937084 $5,734,450 BYH Bryah Resources Ltd 0.004 -20% 610561 $4,349,768 CR9 Corellares 0.002 -20% 1500 $2,514,016 EAT Entertainment 0.004 -20% 1853 $6,543,930 PRX Prodigy Gold NL 0.002 -20% 20001 $7,937,639 NSM Northstaw 0.03 -19% 1686468 $10,126,031 OLL Openlearning 0.015 -17% 99553 $8,688,144 AZL Arizona Lithium Ltd 0.005 -17% 9609192 $31,621,887 EPM Eclipse Metals 0.005 -17% 1788032 $17,194,914 GLL Galilee Energy Ltd 0.005 -17% 7500 $4,243,157 LU7 Lithium Universe Ltd 0.005 -17% 302360 $4,715,878 NES Nelson Resources. 0.0025 -17% 80000 $6,515,783 RC1 Redcastle Resources 0.005 -17% 2906728 $4,461,401 IN CASE YOU MISSED IT An independent study comparing Altech Batteries' (ASX:ATC) Cerenergy technology to alternatives including lithium-ion, sodium-sulphur and vanadium flow batteries has revealed several areas of superior performance. The sodium chloride solid state batteries developed by ATC offer comparative energy efficiencies to lithium-ion batteries, exceeding the other two chemistries, and matches or exceeds its rivals in overall lifetime, cycle life, safety, temperature range, and discharge duration. TG Metals (ASX:TG6) is delving into historical stockpiles at the Van Uden gold project, using a sonic core drill rig to test the gold grades. The drilling will also provide samples for metallurgical testwork as the company transitions toward gold production. Trigg Minerals (ASX:TMG) looks to uncover more critical minerals at its Antimony Canyon project in Utah. Trading halts At Stockhead, we tell it like it is. While Altech Batteries, TG Metals, Hot Chili and Trigg Minerals are Stockhead advertisers, they did not sponsor this article.
