Good morning and welcome to vtrik’s Top 10 (at 11…ish), where we spotlight the key players making waves during the early trades on the ASX.
At precisely 10 am Eastern Time when the markets open, the data is collected at 10:15, after trading gets fully underway.
To sum up, here’s what the markets have been doing so far today.
The Fed keeps interest rates unchanged
Even though President Trump has expressed dissatisfaction, the U.S. Federal Reserve has kept interest rates between 4.25% and 4.50%. They justified this choice based on a strengthening economy, a "robust" job market, and persistently high inflation levels.
The markets first declined following the announcement, yet by the close of trading, all three primary indexes showed increases.
Following the release of impressive quarterly results, Walt Disney’s share price surged by 10.8%. Meanwhile, Nvidia saw an increase of 3.1% after the Trump administration indicated potential changes to regulations governing chip exports.
After Apple announced its intention to incorporate AI solutions for enhancing search features in its Safari browser, the company experienced a decline of 1.14% in its stock price. Faced with the potential loss of an important search engine client, Alphabet saw its shares drop by 7.5%.
The Dow climbed by 0.7%, the S&P500 rose by 0.4%, and the Nasdaq increased by 0.3%.
Euro Pharma stocks fall following new FDA appointment
European markets adjusted their positions following several weeks of gains, retreating modestly due to a drop in retail sales.
Retail stocks dropped by 2.2%, and Healthcare stocks fell by 1.7%.
The selection of FDA critic Vinay Prasad as the head of the FDA Center for Biologics Evaluation and Research caused a downturn in multiple pharmaceutical stock values.
Prasad has consistently spoken out against the COVID-19 vaccination program and the broader pharmaceutical sector. In his recent appointment, he will be responsible for regulating biological medications, encompassing items such as vaccines, gene therapies, and blood products.
AstraZeneca shares dropped by 2.07%, British pharmaceutical firm GSK lost 5%, and French biotechnology company Sanofi decreased by 4.31%.
The FTSE300 dropped by 0.5%, and the UK FTSE100 decreased by 0.4%.
The ASX declines during morning trading.
As of around 10:30 AM AEST, the ASX has dropped by 0.23%, moving contrary to futures predictions which anticipated a slight increase.
At present, the sectors are quite balanced: six are showing gains while five are experiencing losses. TheConsumer Staples sector is seeing an uplift of 0.83%, whereasFinancials is declining by 0.82%. This creates opposing forces within the market.
The ASX All Ordinaries Gold index has risen by 1.34%, even though Gold Futures dropped by 0.9% overnight, closing at US$3,391.90 per ounce.
The ASX All Tech index is also climbing, increasing by 0.83%, which outperforms the sector's overall gain of 0.45%.
Let's move on to our top performers and underperformers of the day so far.
WINNERS
|
Code
|
Description
|
Last
|
%
|
Volume
|
MktCap
|
|
AOK
|
Australian Oil.
|
0.003
|
50%
|
200000
|
$2,003,566
|
|
PPY
|
Papyrus Australia
|
0.013
|
44%
|
541900
|
$5,136,136
|
|
LKY
|
Locksley Resources
|
0.036
|
33%
|
8817971
|
$3,960,000
|
|
NAE
|
New Age Exploration
|
0.005
|
25%
|
318100
|
$10,637,596
|
|
HRE
|
Heavy Rare Earths
|
0.023
|
21%
|
589206
|
$3,952,644
|
|
ENT
|
Enterprise Metals
|
0.003
|
20%
|
500490
|
$2,945,793
|
|
3DP
|
Pointerra Limited
|
0.068
|
19%
|
3330744
|
$45,889,377
|
|
G88
|
Golden Mile Res Ltd
|
0.013
|
18%
|
6756229
|
$5,986,726
|
|
NC1
|
Nico Resources
|
0.08
|
18%
|
157378
|
$7,459,639
|
|
BNL
|
Blue Star Helium Ltd
|
0.007
|
17%
|
94065
|
$16,169,312
|
WordPress Table
In the news…
Locksley Resources (ASX:LKY)
is preparing to start drilling at the Mojave antimony and rare earths project in the U.S., following up on surface assay results from the Desert Antimony Mine, which showed up to 46% antimony and 1,022 g/t silver.
The firm believes that Trump’s directive on critical minerals could provide LKY with a chance to expedite permit approvals, backed directly by the National Energy Dominance Council and gain access to financing through the Defense Production Act.
Geospatial technology company
Pointerra (ASX:3DP)
has accepted an invite from the US Army to take part in a $499 million contract for the Geospatial Research, Integration, Development and Support initiative.
Working as a subcontractor for the U.S. defense firm Leidos, the company aims to implement its Pointerra3D technology—a 3D digital twin data solution—in the military domain.
LAGGARDS
|
Code
|
Name
|
Price
|
% Change
|
Volume
|
Market Cap
|
|
EDE
|
Eden Inv Ltd
|
0.001
|
-33%
|
1
|
$6,164,822
|
|
EEL
|
Enrg Elements Ltd
|
0.001
|
-33%
|
380501
|
$4,880,668
|
|
PKO
|
Peako Limited
|
0.002
|
-20%
|
1466668
|
$3,719,355
|
|
TEM
|
Tempest Minerals
|
0.004
|
-20%
|
100000
|
$3,672,649
|
|
BUY
|
Bounty Oil & Gas NL
|
0.0025
|
-17%
|
8624
|
$4,684,416
|
|
HHR
|
Hartshead Resources
|
0.006
|
-14%
|
1516579
|
$19,660,775
|
|
TMS
|
Tennant Minerals Ltd
|
0.006
|
-14%
|
69011
|
$6,691,233
|
|
AUR
|
Auris Minerals Ltd
|
0.007
|
-13%
|
279562
|
$3,813,008
|
|
IXR
|
Ionic Rare Earths
|
0.007
|
-13%
|
2288147
|
$41,907,427
|
|
AJX
|
Alexium Int Group
|
0.008
|
-11%
|
44942
|
$14,277,858
|
WordPress Table
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post
Top 10 at 11: Gold and technology indices climb but ASX slips
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