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News.com.au
2 days ago
- Business
- News.com.au
Top 10 at 11: ASX opens lower as tariff fatigue sets in across global markets
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 10:15, once trading kicks off in earnest. In brief, this is what the markets have been up to this morning. Federal Court reinstates tariffs US markets rose in overnight trade, but showed none of their usual enthusiasm. News Liberation Day tariffs had been suspended by a US court order and deemed unlawful pushed US futures up more than 1% overnight, but that optimism was quickly dashed as a Federal Court reinstated the tariffs. They'll remain in place as the Trump Admin appeals the decision and outlines new legal justifications for the tariffs. President Trump's team has already signalled that it will continue to pursue the tariffs even if its appeal is lost. President of the Chicago Federal Reserve Austan Goolsbee signalled the removal or avoidance of large tariffs could bring on an interest rate cut, pointing to the underlying strength in the US economy. According to a Reuters analysis, the tariffs have cost business across the US, Asia and Europe more than US$34 billion in lost sales and higher costs. Investors and traders appear to be becoming somewhat numb to it all. The Dow lifted 0.28%, the S&P500 0.4% and the Nasdaq 0.39%. A brief tariff relief rally in Europe faded to leave both major indices marginally lower – the FTSE300 dipped 0.2% and the FTSE100 0.1%. ASX follows Europe lower The ASX has opened lower in the first hour of trade, down 0.21% as of about 10:30 am AEST. Consumer Staples are Materials are the only sectors in the green at present, not an ideal start to trading this morning. A lift in the gold price overnight has provided some stability for gold stocks, which have lifted the All Ords Gold index 0.52%, but the rest of the market is demonstrating broad weakness. Energy is leading losses, down 0.89% after putting in a strong showing yesterday. Let's see who's moving higher against the market's momentum… WINNERS Code Name Last % Change Volume Market Cap PRM Prominence Energy 0.004 100% 1500 $778,353 ERL Empire Resources 0.005 67% 319668 $4,451,740 GMN Gold Mountain Ltd 0.002 33% 288500 $8,429,639 AYT Austin Metals Ltd 0.005 25% 198136 $6,296,765 ECT Env Clean Tech Ltd. 0.0025 25% 159004 $8,013,537 RGL Riversgold 0.005 25% 149838 $6,734,850 WBE Whitebark Energy 0.005 25% 100000 $2,749,334 LRD Lordresourceslimited 0.026 24% 538906 $1,625,946 ASP Aspermont Limited 0.006 20% 719102 $12,365,938 PIL Peppermint Inv Ltd 0.003 20% 200000 $5,690,224 In the news... Lord Resources (ASX:LRD) is up this morning despite launching a 1-for-1 entitlement offer to raise just under $1.4 million. LRD is offering its shares at a 18.18% discount to its 5-day VWAP, with funding to support drilling at the Ilgarari copper project. Aspermont's (ASX:ASP) half year results have pleased investors, after the company grew its annual recurring subscription revenue by 4% year-on-year to $11.2m. The B2B software firm says its subscription business now contributes more than 70% of its total revenue, maintaining a net retention rate of more than 100%. LAGGARDS Code Name Last % Change Volume Market Cap TEG Triangle Energy Ltd 0.002 -33% 500000 $6,267,702 RAN Range International 0.0015 -25% 3198946 $1,878,581 XPN Xpon Technologies 0.008 -24% 1654000 $4,349,659 PLC Premier1 Lithium Ltd 0.009 -18% 1254900 $4,048,666 REZ Resourc & En Grp Ltd 0.015 -17% 492052 $12,089,504 KPO Kalina Power Limited 0.005 -17% 865163 $17,597,818 ENL Enlitic Inc. 0.029 -15% 303089 $24,527,901 ADG Adelong Gold Limited 0.006 -14% 47460198 $9,782,403 WNX Wellnex Life Ltd 0.33 -14% 37088 $26,092,038 AX8 Accelerate Resources 0.007 -13% 235331 $6,377,510
News.com.au
6 days ago
- Business
- News.com.au
US markets experience ‘volatile session' amid trade concerns
Northern Hemisphere markets experienced a 'volatile session' of trading, particularly in the United States, according to CommSec's Tom Piotrowski. 'Revisiting of trade concerns was at the heart of a decline for US markets,' he told Sky News Australia. 'So, you had the Nasdaq down by about a per cent, the S&P 500 down by almost three quarters of a per cent, the Dow Jones was down by about 0.6 of a per cent.'
Yahoo
24-05-2025
- Business
- Yahoo
Investors should avoid international stocks, strategist says
For a few weeks, investors flooded into international equities as concerns about President Trump's tariff plans roiled US markets. But Troy Gayeski, chief market strategist at FS Investments, thinks that companies in the US still have "the best growth prospects." Find out why in the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. Why, Troy, did you say that you probably wanna avoid international? Yeah, so international, look, it's very basic. Again, so many of these things are very basic, right? You need nominal GDP growth and or a combination of secular trends to drive revenue growth in order to drive earnings and EBITDA and free cash flow growth. And so, you know, Europe's Europe, we're rooting for Germany, hope their fiscal stimulus gets things done, helps jump start that economy to grow at 1 or 1 and a half, or hey, maybe even 2%. Um, and the US, look, we're we're a 5, 5 and a half percent nominal GDP economy now. Um, so so you're getting much better revenue growth, much better earnings growth. And then if you look at the character of the companies, right? Not not that there aren't great companies overseas, there's a handful of them. But the most important systemic companies that are traded today are listed in the US and they still have the great, uh, the best growth prospects. So, you know, I get that international's cheap, but it's arguably cheap for a reason, and in the short term, yes, you did have a period of European institutions rotating out of US exposure for very widely publicized reasons. But we think of that is more of a countertrend rally in the midst of a long-term, uh, dispersion of return outcomes between US assets and international assets. And so the beat goes on. It's almost same as it ever was, so to speak.
The Herald
24-05-2025
- Business
- The Herald
Trump re-escalates trade threats, aiming at Apple, EU
Trump roiled markets in early April after imposing tariffs on almost every inhabited locale around the world. That included a tax of about 145% on imported goods from China. Investors responded by furiously selling US assets, as the levies caused them to question the safe-haven status that America has long enjoyed, and while markets have recovered, business and consumer confidence has plunged in the US. The shock response forced the White House to pause most tariffs until early July, leaving only in place a 10% tax on imports from other nations, but Trump held out the possibility of reviving certain levies. Friday's statements end that calm. 'I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the US will be manufactured and built in the US, not India or anyplace else,' Trump said in a post on Truth Social. 'If that is not the case, a tariff of at least 25% must be paid by Apple to the US.' The White House has been in negotiations with numerous countries over trade issues, but progress has been unsteady. Finance leaders from the G7 industrialised democracies tried to downplay disputes over the tariffs earlier in the week at a forum in the Canadian Rocky Mountains. The EU Commission on Friday declined to comment on Trump's recommendation to put a 50% tariff on goods from the EU from June 1, saying it would wait for a phone call between EU trade chief Maros Sefcovic and his US counterpart Jamieson Greer to take place on Friday afternoon (5pm, SA time).
News.com.au
21-05-2025
- Business
- News.com.au
Top 10 at 11: ASX follows European markets higher as Wall Street languishes
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 10:15, once trading kicks off in earnest. In brief, this is what the markets have been up to this morning. US dips, Europe surges There's been a distinct pattern of international markets decoupling from the fortunes of the US in recent months, with both the ASX and European bourses moving against Wall Street's grain. The same pattern has repeated today, with US markets faltering but European indices reaching nine-week highs. Despite the downgrade of the US sovereign debt rating on Monday, US President Trump is in Capital Hill at present, attempting to drum up support for a massive tax cut that will mostly benefit America's richest. It will also add an estimated US$3-5 trillion to the US federal government's debt, which is already sizeable (to say the least) at US$36.2 trillion. A small slip in oil prices (-0.2%) drove US energy stocks lower on the S&P500, sliding 1%. Tech was also on the chopping block, down 0.45%. Nvidia slipped 0.9%, Amazon 1%, Apple 0.92%, Meta 0.52% and Alphabet 1.5%. Tesla managed a 0.5% gain after Musk committed to still being CEO in five years. The Dow slid 0.3%, the S&P500 0.4% and the Nasdaq 0.4%. Europe was faring much better. Spain's local market reached its highest trading point since 2008, while both Ireland and Germany touched on record highs. Utilities led gains overall, up 1.8%. Technical products engineer Diploma jumped 15.11% after lifting revenue 14% year-on year, while British bakery chain Greggs increased total sales by 7.4% and lifted 9.15% The FTSE300 added 0.8%, while the FTSE100 jumped 0.9%. ASX follows Europe's lead The ASX is off to a great start this morning, lifting 0.53% as of about 10:30am AEST. Utilities (+1.58%) and Energy (+1.53%) are leading gains, but Healthcare (+1.19%) is not far behind. Only Industrials (-0.36%) is in the red at present, and the ASX All Ords Gold index is singing, up 4.16% on a recovering gold price and bullish market sentiment around the precious metal. ASX200 Resources (+0.89%) and Banks (+0.82%) are also making sizeable gains. The day is shaping up to be a positive one for the Aussie bourse. WINNERS Code Name Last % Change Volume Market Cap AOA Ausmon Resorces 0.002 100% 2500491 $1,311,213 BYH Bryah Resources Ltd 0.007 75% 17175840 $3,479,814 OCN Oceanalithiumlimited 0.05 52% 1626894 $4,537,381 BP8 Bph Global Ltd 0.003 50% 3299 $2,101,969 RLT Renergen Limited 0.81 34% 133310 $18,347,215 SFG Seafarms Group Ltd 0.002 33% 954907 $7,254,899 TMK TMK Energy Limited 0.004 33% 726636 $30,667,149 RPG Raptis Group Limited 0.018 29% 55555 $2,454,794 PUA Peak Minerals Ltd 0.02 25% 24826420 $44,917,141 VBC Verbrec Limited 0.07 23% 1093714 $16,628,756 In the news… Bryah Resources (ASX:BYH) is flying on locking in the acquisition of the Golden Pike gold project in Canada. The project holds the Canadian equivalent of a JORC-compliant resource (NI 43-101) of about 66,000 ounces of gold. Golden Pike has produced several bonanza-grade gold hits, up to 13m at 43.07 g/t gold and 10 metres at 32.36 g/t gold, as well as exceptional rock chip grades up to 244 g/t gold. Bryah reckons Golden Pike has high potential to add value to its gold portfolio, in a stable, mining-friendly jurisdiction with plenty of opportunity to upgrade and increase the gold resource. Oceana Lithium (ASX:OCN) is trading higher despite launching a share placement to raise $667,000 at a 21% discount to its 15-day VWAP. The funds will go to developing the Solonopole lithium project in Brazil, and the Napperby project in Australia, hosted within the same province as Core Lithium's (ASX:CXO) Finniss project. Renergen (ASX:RLT) has reached an agreement with ASP Isotopes, a Nasdaq-listed company, to buy up all shares in RLT and acquire the company. The two companies will combine to create a global critical minerals entity, seeking to enter emerging and growing markets including medical, semiconductors, green energy and space exploration sectors. The new operation will form a vertically and horizontally integrated supply chain with customers and operations in the US, South Africa, the UK, Europe and the Middle East. A 28-kilometre-long section of heavy mineral mineralisation has boosted Peak Minerals' (ASX:PUA) shares, grading up to 3.1m at 8.4% heavy minerals and 6.8m at 2.8% HM. All 29 drill holes across the 28kms of strike hit mineralisation. There appears to be a high rutile (natural titanium) content in the mineralisation, with the discovery hole grading at 63.2% rutile within the HM mineralisation. Assays are pending for another 319 holes. Engineering, asset management and project delivery service provider Verbrec (ASX:VBC) has secured over $11 million in new engineering and construction contracts. The company has inked $6.8m in contracts with Commonwealth Defence electrical and control system upgrade and maintenance projects, and a further $2.7m for projects involving water treatment and processing facilities in South Australia. LAGGARDS Code Name Last % Change Volume Market Cap BMO Bastion Minerals 0.0015 -50% 5047130 $2,710,883 EEL Enrg Elements Ltd 0.001 -50% 2850094 $6,507,557 GGE Grand Gulf Energy 0.002 -33% 216000 $8,461,275 OVT Ovanti Limited 0.003 -25% 2996000 $11,174,060 AM5 Antares Metals 0.009 -25% 11571062 $6,178,235 E79 E79Goldmineslimited 0.02 -20% 3127450 $3,960,316 IPB IPB Petroleum Ltd 0.004 -20% 22795 $3,532,015 RGL Riversgold 0.004 -20% 215000 $8,418,563 VEN Vintage Energy 0.004 -20% 17309 $9,901,659
