Lunch Wrap: ASX creeps up after Trump’s flip; Bellevue down 22pc on cap raise

ASX inches higher on US tariff buzz, Bellevue cops a hit after a big cap raise, and HUB24 steals the spotlight with record inflows.

ASX lifts slightly as markets cheer US tariff relief. Picture via Getty Images

• ASX lifts slightly as markets cheer US tariff relief

• Bellevue gold shares tank after capital raise

• HUB24 hits record inflows, perpetual sees major outflows

The ASX tiptoed higher on Tuesday, up by 0.5% at lunch time and riding cautiously after President Trump hinted at easing up on tariffs for car imports.

Overnight, Wall Street closed with a 0.8% gain on the S&P 500, largely thanks to Apple jumping 2% after news that certain electronics would also be spared from tariffs, at least for now.

That little breather gave US tech stocks some much-needed oxygen. Still, the whole thing remains as clear as mud.

Trump, true to form, threw both hope and chaos into the mix.

After talking up exemptions for carmakers, which sent Ford and GM bouncing higher, he flipped around and said there’d be no mercy when it came to semiconductors.

In a social media post, he said the US would be looking “at the WHOLE ELECTRONICS SUPPLY CHAIN” as part of a national security review.

Still, the Japanese market loved the auto tariff pause, with the Nikkei jumping more than 1% this morning; Toyota led the charge.

Back home on the ASX, investors played it relatively safe.

Banks led the way, while CSL (ASX:CSL) added 2.5%, pushing the health sector higher with it.

Tech names, though, slumped. WiseTech Global (ASX:WTC) was down 2%, and TechnologyOne dropped 1.3%. No relief there.

Miners did their bit. BHP (ASX:BHP) nudged up 0.5% thanks to higher iron ore prices.

Source: Market Index

Source: Market Index

The biggest mover in the large caps space this morning was Bellevue Gold (ASX:BGL). After a three-week trading pause, Bellevue came out and got knocked flat.

BGL shares plunged as much as 23% after the company revealed a $156.5 million capital raise, aimed at closing out hedge contracts and strengthening its balance sheet.

In the finance space, investment platform Hub24 (ASX:HUB) was flying high after posting record platform inflows for the March quarter, pulling in $3.6 billion. But shares were down 1.5%.

Meanwhile, asset manager Perpetual (ASX:PPT) was busy plugging leaks. The firm reported net outflows of $8.9 billion in Q3, more than double the previous quarter’s $3.8 billion. Shares slipped 2%.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for April 15 :

Security	Description	Last	%	Volume	MktCap
SUH	Southern Hem Min	0.030	43%	16,086,362	$15,461,041
MAY	Melbana Energy Ltd	0.032	33%	21,943,902	$80,884,898
MSG	Mcs Services Limited	0.004	33%	1,521,756	$594,299
DAL	Dalaroo Metals	0.020	33%	1,347,945	$3,734,279
SNS	Sensen Networks Ltd	0.031	29%	559,452	$19,032,899
IXR	Ionic Rare Earths	0.009	29%	25,088,730	$36,668,998
MEI	Meteoric Resources	0.088	28%	22,934,148	$161,243,532
SRL	Sunrise	0.620	25%	564,062	$44,662,612
AVE	Avecho Biotech Ltd	0.005	25%	54,838	$12,677,188
BYH	Bryah Resources Ltd	0.005	25%	2,691,128	$3,479,814
CHM	Chimeric Therapeutic	0.005	25%	1,711,055	$6,480,599
FAU	First Au Ltd	0.003	25%	5,000,000	$4,143,987
IPB	IPB Petroleum Ltd	0.005	25%	2,000,000	$2,825,612
KTA	Krakatoa Resources	0.010	25%	2,915,550	$4,961,072
RAN	Range International	0.003	25%	2,729,000	$1,878,581
RLG	Roolife Group Ltd	0.005	25%	12,675,283	$5,984,125
GUL	Gullewa Limited	0.098	24%	182,827	$17,223,752
AR3	Austrare	0.110	24%	1,251,146	$14,150,086
LKY	Locksleyresources	0.021	24%	557,824	$2,493,333
CPO	Culpeominerals	0.016	23%	939,331	$2,859,509
PSC	Prospect Res Ltd	0.135	23%	1,555,442	$62,992,928
VMM	Viridismining	0.305	22%	768,527	$21,313,256
4DX	4Dmedical Limited	0.310	22%	1,678,944	$114,856,860
ATH	Alterity Therap Ltd	0.009	21%	8,309,004	$63,891,595

Southern Hemisphere Mining (ASX:SUH) reckons it’s onto something big at its Curiosity copper-gold target in Chile. It just wrapped up a deep Magneto-Telluric survey, and the results line up nicely with earlier geochem modelling and IP data. Basically, all signs point to a large zone of low resistivity, stretching over 1.4km deep. The setup it said, looks a lot like Atex Resources' Valeriano project. Southern Hemisphere believes it’s building a case that this part of Llahuin might be much bigger than first thought.

Melbana Energy (ASX:MAY) has just wrapped up a workover at its Block 9 project in Cuba, and the results are looking sharp. It managed to boost production at Unit 1B from 293 barrels a day to 488, a 66% jump, after sorting out damage caused when the well was shut in last year. The well is now flowing full-time to build up stock for its first shipment. Melbana reckons this reservoir has serious potential, with earlier tests showing Unit 1B could pump out as much as 1,235 barrels a day.

Dalaroo Metals (ASX:DAL) is gearing up for its first boots-on-ground program at the Blue Lagoon critical minerals project in Greenland, kicking off late June. It’s chasing zirconium, niobium and rare earths – all the juicy stuff the world’s scrambling for. Uranium anomalies were first spotted here back in 1979, but no one’s touched those results since, so Dalaroo’s the first to give it a proper look. It’s also brought in Greenland geologist heavyweight Ole Christiansen.

Meteoric Resources (ASX:MEI) has just dropped its maiden resource for Barra do Pacu in Brazil, and it’s a ripper. The new estimate adds 389 million tonnes at 2,204ppm TREO to its Caldeira rare earths project, with a solid chunk, 77Mt, now sitting in the Indicated category. Even better, there’s a high-grade zone of 32Mt going over 4,000ppm. Barra do Pacu sits right next door to its own Capão do Mel project, and the two combined now clock over 150Mt of high-grade rare earths close to the planned processing plant.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for April 15 :

Code	Name	Price	% Change	Volume	Market Cap
88E	88 Energy Ltd	0.001	-33%	4,417,586	$43,400,718
ICL	Iceni Gold	0.050	-29%	1,473,306	$21,551,984
EEL	Enrg Elements Ltd	0.002	-25%	849,999	$6,507,557
CYB	Aucyber Limited	0.071	-24%	594,256	$15,374,956
KAL	Kalgoorliegoldmining	0.059	-24%	25,328,978	$29,628,170
AD1	Adneo Limited	0.043	-22%	165,926	$8,052,382
BGL	Bellevue Gold Ltd	0.898	-22%	27,579,505	$1,469,907,308
ERL	Empire Resources	0.004	-20%	953,799	$7,419,566
VRC	Volt Resources Ltd	0.004	-20%	2,968,848	$23,423,890
E79	E79Goldmineslimited	0.033	-20%	3,859,853	$6,494,918
AT1	Atomo Diagnostics	0.018	-18%	1,594,766	$14,062,451
ASQ	Australian Silica	0.015	-17%	365,028	$5,073,487
ICG	Inca Minerals Ltd	0.005	-17%	321,936	$7,658,340
LU7	Lithium Universe Ltd	0.005	-17%	110,000	$4,715,878
SER	Strategic Energy	0.005	-17%	14,997	$4,026,200
SCN	Scorpion Minerals	0.017	-15%	532,043	$10,234,124
DTZ	Dotz Nano Ltd	0.065	-14%	493,323	$43,040,870
ODE	Odessa Minerals Ltd	0.006	-14%	71,430	$11,196,728
PCL	Pancontinental Energ	0.006	-14%	1,692,790	$56,956,101
SPX	Spenda Limited	0.006	-14%	1,412,930	$32,306,508
AX8	Accelerate Resources	0.007	-13%	341,534	$6,297,510
GLA	Gladiator Resources	0.007	-13%	162,500	$6,066,375
ATG	Articore Group Ltd	0.150	-12%	513,500	$48,429,067
A8G	Australasian Metals	0.061	-12%	183,208	$3,994,391

Collins Foods (ASX:CKF) decided it’s had enough of Taco Bell in Australia. The company announced it’ll be pulling the plug on the burrito-slinging brand within the next 12 months. Shares were plunging south of the border at the time of writing, down 5%.

IN CASE YOU MISSED IT

In a bid to focus on the Rae copper project in Canada, White Cliff Minerals (ASX:WCN) has offloaded its Reedy South gold project in Australia to Bain Global Resources Pty Ltd for $1.2 million in cash. The sale will allow WCN to devote all of its attention to the Rae project, where drilling is well underway.

At Stockhead, we tell it like it is. While White Cliff Minerals is a Stockhead advertiser, it did not sponsor this article. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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

Originally published as Lunch Wrap: ASX creeps up after Trump’s flip; Bellevue down 22pc on cap raise