Good morning and welcome to ‘Top 10 at 11…ish’, where we spotlight the key players making waves on the ASX during the opening hours of trading.
At precisely 10 am Eastern Time when the market opens, the data is collected at 10:15, after trading gains significant momentum.
To sum up, here’s what the markets have been doing so far today.
Federal Court reinstates tariffs
The US markets climbed during early trading, yet they lacked their typical zest.
The suspension of News Liberation Day tariffs, which were initially halted due to a US court order and declared illegal, led to an increase of over 1% in U.S. stock futures during the night session. However, this positive sentiment soon evaporated when a federal court overturned the decision and reimposed 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 indicated that they will keep pushing for the tariffs even if their appeal is unsuccessful.
The president of the Chicago Federal Reserve, Austan Goolsbee, indicated that eliminating or reducing significant tariffs might lead to a decrease in interest rates, highlighting the inherent resilience of the U.S. economy.
Based on aReuters analysis
The tariffs have resulted in over US$34 billion in lost sales and increased expenses for businesses spanning the US, Asia, and Europe.
Investors and traders seem to be growing increasingly indifferent to it all.
The Dow rose by 0.28%, the S&P500 increased by 0.4%, and the Nasdaq went up by 0.39%.
A short-lived surge in European tariffs came to an end, resulting in minor declines for both key indexes—the FTSE300 fell by 0.2%, and the FTSE100 dropped by 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.
At present, Consumer Staples along with Materials are the lone sectors showing gains as we begin trading today, which isn’t quite the ideal kickoff one might hope for.
An increase in the gold price during the night has offered some steadiness for gold stocks, resulting in a 0.52% rise in the All Ordinaries Gold Index; however, the remainder of the market shows widespread frailty.
The energy sector is driving the declines, dropping 0.89% after performing well the previous day.
Let’s find out who’s climbing despite the market’s trend…
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 |
WordPress Table
In the news…
Lord Resources (ASX:LRD)
has risen today even after announcing a 1-for-1 rights issue aimed at raising approximately $1.4 million. The company is offering its shares at an 18.18% discount compared to its 5-day volume-weighted average price (VWAP). This fundraising will help finance drilling activities for the Ilgarari copper project.
Aspermont’s (ASX:ASP)
The half-year results have delighted investors as the company saw its annual recurring subscription revenue increase by 4% year-over-year to reach $11.2 million.
The company operating in the B2B software sector reports that over 70% of its overall income currently comes from subscriptions, with a consistent net retention rate exceeding 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 | Resource & Eng Group 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 |
WordPress Table
This piece doesn’t provide financial product advice. It would be wise to seek independent counsel prior to making any financial choices.
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Top 10 at 11: ASX starts off lower amid growing weariness over tariffs impacting international markets
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