Closing Bell: US-China trade talks push up ASX as energy stocks ride oil price higher

Renewed US-China trade talks and strong movements in the Energy sector have lifted the ASX 0.33pc.

Energy stocks are climbing after a 3pc rise in oil prices and renewed hopes for a US-China trade deal overnight. Pic: Getty Images.

• US Secretary of the Treasury Scott Bessent is expected to meet with senior Chinese officials on Thursday

• Oil price hike lifts Energy sector more than 2pc

• Healthcare weighs on market under tariff shadow, down more than 1pc

The ASX has bucked the global trend to rise 0.33% today, riding higher on strong movements in energy stocks and strength in resource indices.

Energy sector carries gains

Renewed demand from new buyers taking advantage of four-year lows kicked oil prices out of their slump, rising about 3% and boosting the Energy sector more than 2% in trading.

Source: Market Index

Woodside (ASX:WDS) lifted 1.65%, Santos (ASX:STO) 2.04% and Ampol (ASX:ALD) 2.77%.

As for mid caps, Viva Energy Group (ASX:VEA) jumped 2.79%, Beach Energy (ASX:BPT) 1.69% and Karoon Energy (ASX:KAR) 1.76%.

Uranium stocks also contributed to the sector’s gains, with several familiar names making moves today.

Boss Energy (ASX:BOE) jumped 12.43%, Lotus Resources (ASX:LOT) 11.43%, Deep Yellow (ASX:DYL) 7.59%, Nexgen Energy (ASX:NXG) 7.98% and small cap Energy Resources of Australia (ASX:ERA) soared 50% to $0.0015 a share.

Looking outside of resources, ZIP (ASX:ZIP)surged 13%, transport and tourism provider Kelsian Group (ASX:KLS) surged 18.28% and fund manager Magellan Financial Group (ASX:MFG) jumped 7.44%.

There isn’t too much to be said about the indices today – the ASX Small Ords has shot up 1.69%, and the ASX 200 Resources index 0.77% on strong movements in energy and mining stocks.

Source: Market Index

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
ICU	Investor Centre Ltd	0.002	100%	90003	$304,511
YAR	Yari Minerals Ltd	0.008	60%	57400581	$2,411,789
EDE	Eden Inv Ltd	0.0015	50%	51752	$4,109,881
TMS	Tennant Minerals Ltd	0.007	40%	1826657	$4,779,452
IS3	I Synergy Group Ltd	0.004	33%	126261	$1,502,190
NAE	New Age Exploration	0.004	33%	1926412	$7,978,197
PEB	Pacific Edge	0.1	33%	38052	$60,893,698
MDR	Medadvisor Limited	0.13	30%	1195245	$59,771,564
SRH	Saferoads Holdings	0.26	30%	1116579	$8,741,081
CXU	Cauldron Energy Ltd	0.009	29%	465955	$10,229,832
CR3	Core Energy Minerals	0.015	25%	1873752	$4,670,553
ASR	Asra Minerals Ltd	0.0025	25%	1922945	$5,412,094
ENT	Enterprise Metals	0.0025	25%	1001627	$2,356,635
TYX	Tyranna Res Ltd	0.005	25%	3984948	$13,151,701
SNX	Sierra Nevada Gold	0.021	24%	59434	$2,799,205
PER	Percheron	0.011	22%	2111379	$9,786,939
ANR	Anatara Ls Ltd	0.006	20%	319625	$1,066,919
FAU	First Au Ltd	0.003	20%	932316	$5,179,983
ODE	Odessa Minerals Ltd	0.006	20%	3549362	$7,997,663
RDS	Redstone Resources	0.006	20%	676710	$4,626,892
SHP	South Harz Potash	0.006	20%	930000	$5,412,894
TMK	TMK Energy Limited	0.003	20%	7888848	$25,555,958
TMX	Terrain Minerals	0.003	20%	2300373	$5,563,058
BCB	Bowen Coal Limited	0.485	20%	768790	$43,641,810
BXN	Bioxyne Ltd	0.026	18%	4756733	$47,626,232

Making news…

Yari Minerals (ASX:YAR) will be snapping up the Rolleston South coal project in Queensland’s Bowen Basin, with a 78.9Mt JORC inferred resource already confirmed. It’s surrounded by Glencore and Peabody mines, so infrastructure is top-notch.

Yari plans to start drilling soon, aiming for semi-soft metallurgical coal, and the deal includes a 19.9% shareholding and performance rights for a bigger resource. Yari’s CEO Anthony Italiano says it’s primed for growth with big exploration upside.

Telehealth company MedAdvisor (ASX:MDR) has received a non-binding letter of intent (LOI) from a major multinational software company to buy its ANZ business division for cash.

The offer is confidential for now, but MedAdvisor reckons it’s well above its current share price. The deal is part of MedAdvisor’s strategy to close the gap between its market value and what it thinks it’s really worth. MedAdvisor’s ANZ business pulled in a record $2.9 million in April.

TMK Energy (ASX:TMK) is eagerly awaiting the onset of gas flows at the Gurvantes XXXV coal seam gas project, where pressure levels are approaching critical desorption requirements.

The company says the well is already beginning to produce gas, meaning some of the coals are already at the desired pressure.

Targeting an initial mineral resource for early to mid-2026, Terrain Minerals (ASX:TMX) is poised to begin resource expansion drilling at the Lightning and Monza prospects within the Smokebush gold project.

The company is targeting some promising areas that have already revealed solid gold and silver mineralisation, up to 11m at 6.03 g/t gold and 43.5 g/t silver from 75m.

ASX SMALL CAP LAGGARDS

Today’s worse performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
88E	88 Energy Ltd	0.001	-50%	67025322	$57,867,624
HCF	Hghighconviction	0.02	-33%	864429	$582,194
MOM	Moab Minerals Ltd	0.001	-33%	234888	$2,600,499
HIQ	Hitiq Limited	0.022	-27%	3466766	$11,026,874
BNL	Blue Star Helium Ltd	0.006	-25%	2449702	$21,559,082
EEL	Enrg Elements Ltd	0.0015	-25%	2537936	$6,507,557
FFF	Forbidden Foods	0.006	-25%	5492203	$5,696,816
MTB	Mount Burgess Mining	0.003	-25%	13843544	$1,406,811
OVT	Ovanti Limited	0.003	-25%	4591797	$10,806,191
AEV	Avenira Limited	0.007	-22%	785255	$28,598,797
NPM	Newpeak Metals	0.012	-20%	135578	$4,831,076
VBS	Vectus Biosystems	0.06	-20%	12665	$3,995,873
CR9	Corellares	0.002	-20%	200000	$2,342,915
MRD	Mount Ridley Mines	0.002	-20%	1254340	$1,946,223
RLG	Roolife Group Ltd	0.004	-20%	2174755	$7,480,156
VRC	Volt Resources Ltd	0.004	-20%	1000440	$23,423,890
XPN	Xpon Technologies	0.017	-19%	4657411	$7,611,271
MIO	Macarthur Minerals	0.022	-19%	577628	$5,390,969
CHM	Chimeric Therapeutic	0.005	-17%	1025648	$10,904,117
FRX	Flexiroam Limited	0.005	-17%	236172	$9,104,392
MEM	Memphasys Ltd	0.005	-17%	338947	$11,901,589
MKL	Mighty Kingdom Ltd	0.005	-17%	2254795	$2,190,327
RFA	Rare Foods Australia	0.005	-17%	223216	$1,631,899
SKK	Stakk Limited	0.005	-17%	86523	$12,450,478
IBX	Imagion Biosys Ltd	0.011	-15%	377929	$2,617,438

IN CASE YOU MISSED IT

Future Metals (ASX:FME) has kicked off a 1-for-3 non-renounceable offer to raise up to $2.64m before costs, partially underwritten by CPS Capital Group Pty Ltd.

The company intends to use the funds to advance the Eileen Bore copper-nickel-platinum group metal project, which has generated results up to 120m at 0.73% copper, 0.29% nickel and 0.86 g/t platinum group metals from surface.

Trading Halts

Augustus Minerals (ASX:AUG) – acquisition
Catalyst Metals (ASX:CYL) – potential asset acquisition
Culpeo Minerals (ASX:CPO) – cap raise
Highfield Resources (ASX:HFR) – proposed organisational and governance change
MedAdvisor (ASX:MDR) – acquisition
Metgasco (ASX:MEL) – cap raise
Wide Open Agriculture (ASX:WOA) – cap raise

At Stockhead, we tell it like it is. While Future Metals is a Stockhead advertiser, they did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Closing Bell: US-China trade talks push up ASX as energy stocks ride oil price higher