Latest news with #bankingstocks
News.com.au
a day ago
- Business
- News.com.au
Closing Bell: ASX sets 17th record high for 2025 as market continues to show broad strength
ASX sets 17th intraday high for the year at 8963 Closes out trade at record 8959.3 points Broad sector gains continue with eight of 11 higher Bulls set the tone for fresh week of trade It wasn't looking this way as we chowed down for lunch in the east, but it's been an ultimately tidy open to this week's trade for the ASX 200. The benchmark finished up 0.23% or 20 points to give us a double whammy of new intraday and record highs once again. The ASX has been on a tear in recent weeks, offering up 17 new all-time highs this year. In a good sign for market stability, the gains haven't come from any one place, although mining and banking stocks have maintained their dominate position as trend setters. Today, telecoms and info tech led the pack, with some support from financials and the Banks index. Real Estate digital advertising giant REA Group (ASX:REA) led the telecoms sector higher, climbing 4.4%. The company is bringing Cameron McIntyre on as its newest CEO, effective November 3. He oversaw a six-fold increase in the value of CAR Group Limited in his nine years as CEO. McIntyre will be taking over for outgoing CEO Owen Wilson, who's looking to make a retirement from full time executive roles. Materials – in particular resources and gold stocks – weighed on the other side of the balance sheet alongside energy and a small dip in industrials, but the damage was limited. BHP (ASX:BHP) and Rio Tinto (ASX:RIO) fell more than 1% each, while Fortescue (ASX:FMG) slid 0.6%. Critical mineral stocks were having a much better time of it. Rare earths miner Lynas (ASX:LYC) added 1.9%, while lithium stock Pilbara Minerals (ASX:PLS) jumped 3.2% and Mineral Resources (ASX:MIN) added 1.3% Overall, despite some midday hiccups, it's been a day of steady upward progress for the ASX. Let's see who's been able to capitalise on that momentum. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap KLR Kaili Resources Ltd 1.08 2900% 1882040 $5,306,413 AOA Ausmon Resorces 0.0045 125% 31270577 $2,622,427 MTB Mount Burgess Mining 0.012 100% 48362991 $2,553,830 AHX Apiam Animal Health 0.795 49% 2151677 $98,409,250 BCN Beacon Minerals 2.3 35% 706852 $180,680,630 CHM Chimeric Therapeutic 0.004 33% 136568 $9,763,676 VKA Viking Mines Ltd 0.008 33% 4777420 $8,063,692 IFG Infocusgroup Hldltd 0.025 32% 11232127 $5,546,844 LNR Lanthanein Resources 0.052 30% 850553 $7,493,763 OVT Ovanti Limited 0.009 29% 75675099 $29,920,265 VML Vital Metals Limited 0.14 27% 1850545 $12,968,919 ADN Andromeda Metals Ltd 0.014 27% 34598528 $41,983,440 IXC Invex Ther 0.095 27% 98193 $5,636,539 JNO Juno 0.03 25% 195114 $5,021,689 AOK Australian Oil. 0.0025 25% 700825 $2,075,566 ERA Energy Resources 0.0025 25% 1321373 $810,792,482 VFX Visionflex Group Ltd 0.0025 25% 1982 $6,735,721 LMG Latrobe Magnesium 0.021 24% 15469989 $44,786,485 RWL Rubicon Water 0.21 24% 33381 $40,918,167 SRL Sunrise 1.625 23% 1656512 $155,356,259 IS3 I Synergy Group Ltd 0.011 22% 893410 $15,356,699 GTE Great Western Exp. 0.017 21% 11694014 $7,948,611 UNT Unith Ltd 0.0085 21% 4495211 $10,351,498 1AD Adalta Limited 0.003 20% 1189832 $2,886,625 CYQ Cycliq Group Ltd 0.006 20% 924978 $2,302,583 In the news… Kaili Resources (ASX:KLR) fended off a price query from the ASX after its share price surged an eye-watering 2900% today, pointing to Friday's drilling approval news that saw them topping our ASX Leaders chart last week, too. KLR is preparing to drill for rare earths on three tenements in South Australia. Previous results from a maiden drilling program on Lameroo, one of the three areas in question, peaked at 356 parts per million total rare earths. How about this chart… that's pretty insane and untoward action to say the least. Read today's Resources Top 5 for more. Mount Burgess Mining (ASX:MTB) is poised to snap up two advanced gold projects from fellow ASX listers Metal Hawk (ASX:MHK) and Falcon Metals (ASX:FAL). MTB is looking to acquire the Viking gold project and the Blair North project, which have both produced high-grade gold grades up to 6m at 64 g/t gold from 50m and 5.9m at 6.7 g/t gold from 244.4m, respectively. Apiam Animal Health (ASX:AHX) is climbing after fielding a non-binding takeover offer from Adamantem Capital Management. The investment firm is offering to acquire AHX via a scheme of arrangement at $0.88 cash per share. I'll hand over to Stockhead's own Tim Boreham to give you the full run down. Beacon Minerals (ASX:BCN) hit bonanza grade gold in drilling at the Iguana deposit, part of the Lady Ida project in WA. The stand out result among some solid gold hits was a 10-metre intersection grading at 69.9 g/t gold from 40m of depth. Within that gold hit, BCN encountered a metre-wide mineralised section grading at a startling 593 g/t gold, alongside a total of 17 results above 20 g/t gold. Management says the assays are a 'fantastic' result that provides greater confidence as the company prepares for first production early next year. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap HFR Highfield Res Ltd 0.13 -47% 2655017 $116,148,876 MOM Moab Minerals Ltd 0.001 -33% 58975 $2,811,999 SFG Seafarms Group Ltd 0.001 -33% 50000 $7,254,899 UBI Universal Biosensors 0.013 -32% 3931599 $5,663,281 SKK Stakk Limited 0.005 -29% 291299 $14,525,558 M2R Miramar 0.003 -25% 7897727 $3,987,293 PLC Premier1 Lithium Ltd 0.009 -25% 136601 $4,416,727 GTRDA Gti Energy Ltd 0.125 -22% 305646 $14,835,762 PET Phoslock Env Tec Ltd 0.011 -21% 12848562 $8,741,467 AD8 Audinate Group Ltd 4.83 -20% 2893393 $511,289,266 TMK TMK Energy Limited 0.002 -20% 290555 $25,555,958 VRC Volt Resources Ltd 0.004 -20% 2470000 $23,424,247 BCK Brockman Mining Ltd 0.018 -18% 22750 $204,165,107 1CG One Click Group Ltd 0.01 -17% 988767 $14,187,434 AJL AJ Lucas Group 0.01 -17% 3194034 $16,508,756 ALR Altairminerals 0.01 -17% 12603476 $54,560,930 BEL Bentley Capital Ltd 0.01 -17% 834640 $913,535 CRB Carbine Resources 0.005 -17% 693700 $6,000,978 FBR FBR Ltd 0.005 -17% 7071488 $34,136,713 LU7 Lithium Universe Ltd 0.01 -17% 11540403 $17,231,755 PPY Papyrus Australia 0.01 -17% 16040 $7,234,581 SLZ Sultan Resources Ltd 0.005 -17% 200000 $1,566,501 TMX Terrain Minerals 0.0025 -17% 2000000 $7,595,443 NHE Nobleheliumlimited 0.042 -16% 1180203 $29,976,250 RML Resolution Minerals 0.048 -16% 20555425 $70,441,162 In Case You Missed It ReNerve (ASX:RNV) has completed the first sale and clinical use of its new deep dermal tissue product line. HyTerra (ASX:HYT) has found hydrogen and helium while drilling its third well at the Nemaha project in Kansas, USA. Albion Resources (ASX:ALB) has identified 17 new Yandal West targets including seven high-priority drill targets with strong geological similarities to the Collavilla prospect. Artemis Resources (ASX:ARV) inks approval for Exploration Licence E69/4266, covering the Cassowary Intrusion and three nearby targets with copper-gold potential. Power Minerals' (ASX:PNN) second-phase auger drilling at the Santa Anna project has intersected high-grade niobium and rare earths, reinforcing confidence in outlining a future resource. Chariot Corporation (ASX:CC9) has appointed Leo Lithium (ASX:LLL) director Brendan Borg as an independent non-executive director. CuFe (ASX:CUF) now has the option to include gold, bismuth and silver as additional revenue streams at the Tennant Creek project after a 400% increase to the Gecko Trend resource estimate. Trading halts
Arab News
06-08-2025
- Business
- Arab News
Pakistan stocks hit all-time high as banking rally, rupee strength fuel optimism
ISLAMABAD: Pakistan's benchmark stock index surged to a record high on Wednesday, driven by a sharp rally in banking stocks and a strengthening currency, as investors bet on continued macroeconomic stability and easing industrial tariffs under the country's $7 billion IMF program. The KSE-100 Index gained 2,051 points, or 1.43 percent, to close at 145,088 after rising more than 2,150 points during intraday trade. 'Banking stocks remained the star performers as HBL, NBP, MEBL, and UBL collectively contributed 1,017 points to the benchmark,' said Maaz Mulla, Vice President of Equity Sales at Topline Securities. 'HBL and NBP hit their upper circuits during intraday trade, although mild profit-taking toward the close trimmed some gains.' Investor appetite remained strong, with traded volume climbing to 784 million shares and turnover reaching Rs 52.7 billion, both notably higher than in recent sessions. Bank of Punjab (BOP) led volumes with 67 million shares traded. The rally comes as Pakistan shows signs of macroeconomic recovery following the IMF Executive Board's approval of a new $7 billion loan program in September 2024. The program, which succeeded a short-term Stand-By Arrangement, focuses on structural reforms, energy sector overhauls, and fiscal consolidation. The country's rupee has also rebounded sharply in recent weeks, buoyed by steady remittance inflows and an aggressive crackdown on the dollar black market launched in mid-2024. Foreign exchange reserves have crossed $11.3 billion, according to central bank data, their highest level in nearly three years. 'Stocks [reached a] new all-time high amid strong economic outlook,' said Ahsan Mehanti of Arif Habib Corp. 'Surging rupee amid government subsidies for fully funded remittances scheme, surging global crude oil prices and government resolve to settle power sector circular debt easing industrial tariff, financial restructuring played [a] catalyst role in bullish close at PSX.' Energy reforms, particularly the government's recent plan to restructure circular debt and reduce industrial power tariffs, have played a central role in restoring investor confidence in manufacturing and large-scale industry. Improved current account dynamics and a lower inflation trajectory, down to 12.6 percent in July from a high of over 30 percent in 2023, have also helped fuel sentiment. Analysts say the market is likely to maintain momentum if policy continuity holds and reforms under the IMF program remain on track.
Free Malaysia Today
10-07-2025
- Business
- Free Malaysia Today
Late buying in banking stocks lifts Bursa to intraday high
KUALA LUMPUR : Late buying of banking stocks pushed Bursa Malaysia to close at its intraday high today, with the key index gaining 0.48%, in line with improved regional sentiment. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) snapped a three-day losing streak today, led by a rebound in banking stocks. 'Consumer stocks also continued their persistent uptrend, as Bank Negara Malaysia's (BNM) rate cut is expected to benefit the consumer sector through lower borrowing costs and improved discretionary spending. 'Financial equities tend to benefit from monetary policy easing, as lower borrowing costs typically boost credit demand, improve loan quality, and support economic activity. These factors enhance the earnings outlook for the banking sector,' he told Bernama. However, he noted that foreign investors remained net sellers in the local capital market, signalling ongoing caution. 'While the policy shift should, in principle, bolster investor sentiment, concerns over trade fragmentation and external headwinds continue to temper risk appetite,' he said. Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that external headwinds such as the expansion of US tariffs and the ongoing tension in the Middle East continued to pose significant challenges for the local benchmark index. 'There is rising confidence that governments will reach agreements to mitigate the impact of US president Donald Trump's expanded tariff measures. 'As for the local bourse, reclaiming the 1,530 threshold marks an important technical achievement for the index. As such, we anticipate the FBM KLCI to trend within the range of 1,530-1,550 towards the weekend,' he said. At 5pm, the FBM KLCI rose 7.28 points to 1,536.52 from yesterday's close of 1,529.24. The benchmark index had earlier opened 2.19 points higher at 1,531.43 and subsequently hit its lowest level of 1,523.25 in early trade. The market breadth was positive, with 514 gainers outpacing 406 decliners. A total of 540 counters were unchanged, while 958 were untraded and 10 were suspended. Turnover rose to 3.25 billion shares worth RM2.45 billion, compared with 2.95 billion shares worth RM1.99 billion yesterday. Nestle led the consumer sector, gaining 40 sen to RM78.80, followed by Hong Leong Industries, which popped 26 sen to RM13.66. Among other heavyweight counters, Maybank gained 3 sen to RM9.73, Public Bank added 4 sen to RM4.30, and CIMB went up 13 sen to RM6.70. However, Tenaga Nasional was 4 sen lower at RM13.96, and IHH Healthcare slipped 2 sen to RM6.65. In active trade, Zetrix AI added 2.5 sen to 98 sen, while Sapura Energy, Eco-Shop and NexG were all flat at 4 sen, RM1.27 and 44.5 sen, respectively. Tanco climbed 1 sen to 90 sen. On the index board, the FBM Emas Index gained 44.11 points to 11,528.33, the FBMT 100 Index expanded 43.59 points to 11,293.13, and the FBM Emas Shariah Index added 21.85 points to 11,508.74. The FBM 70 Index increased 20.66 points to 16,655.60, while the FBM ACE Index improved 19.94 points to 4,516.57. By sector, the financial services index surged 116.89 points to 17,622.38, the industrial products and services index inched up 0.32 of a point to 153.54, while the plantation index fell 17.82 points to 7,461.26. The energy index eased 0.28 of a point to 736.62. The Main Market volume inched higher to 1.32 billion units worth RM2.17 billion from 1.31 billion units valued at RM1.74 billion yesterday. Warrants turnover rose to 1.69 billion units valued at RM190.86 million from 1.25 billion units worth RM134.91 million previously. The ACE Market volume narrowed to 241.47 million units valued at RM86.17 million, versus 382.69 million units worth RM116.98 million yesterday. Consumer products and services counters accounted for 230.09 million shares traded on the Main Market; industrial products and services (177.06 million), construction (127.04 million), technology (213.35 million), SPAC (nil), financial services (75.64 million), property (189.39 million), plantation (18.59 million), REITs (28.44 million), closed-end fund (3,000), energy (98.31 million), healthcare (49.10 million), telecommunications and media (32.35 million), transportation and logistics (25.44 million), utilities (57.80 million), and business trusts (102,200).
