Lunch Wrap: Market on edge before RBA decision, Bapcor implodes after slashing guidance
The ASX has slipped on the way to the lunch table, as rate nerves bite, Bapcor implodes and the market waits to see if the RBA will tighten the screws.
ASX slips as RBA decision looms at 2.30pm AEDT
Bapcor crashes after slicing its earnings outlook
Liontown inks new lithium offtake; West African hits more gold
The ASX was down around 0.2% and clearly saving its energy for the Reserve Bank’s final interest-rate call of the year later this afternoon.
Wall Street wasn’t much help overnight, wobbling ahead of a Federal Reserve meeting that’s basically a rate cut countdown.
But when rates are in the spotlight, traders often choose caution, or what fund managers like to call “prudence” when they’re underperforming.
Back home, the real action was in the tech and telco corners, and not in a good way.
Life360 (ASX:360), NextDC (ASX:NXT), and Technology One (ASX:TNE) all lost over 1%.
Energy stocks got dragged lower, too, thanks to oil dropping 2% to around US$62.50 a barrel last night.
Iraq brought production back online, and suddenly Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) were reminded that global supply doesn’t pay attention to their capex plans.
Meanwhile, the RBA is definitely the main event today, and it starts at 2.30pm AEDT.
Michele Bullock is expected to leave rates on hold at 3.60%, serve up some stern words about inflation, and then remind everyone she’s “data dependent”.
“The RBA will need clear evidence that inflation pressures are easing once more before cutting rates again," said Eleanor Creagh, REA Group senior economist.
Aussie bond markets are already pricing in a hike next year.
In the last couple of days, the Aussie dollar has also climbed to its strongest level since September ahead of the RBA decision.
If you wanted a stock to ruin your lunch, Bapcor (ASX:BAP) delivered for some.
The auto parts retailer sank a brutal 18% after cutting earnings guidance for FY26. The company's trade division went on a discount spree to shift product, which is terrible for margins.
In the large caps space, Liontown Resources (ASX:LTR) eased around 1% but at least had some good news: the lithium hopeful signed a fresh two-year offtake deal with China's Canmax Technologies for 150,000 wet metric tonnes per year from 2027–28.
Liontown shares are up around 30% in a month.
Things also looked brighter for West African Resources (ASX:WAF), which rose 1% after intercepting more gold 300 metres below reserves at Sanbrado. A cutback study is coming early 2026, and drilling rolls on.
And finally, TPG Telecom (ASX:TPG) advised that it’s heading to the Senate today to explain why two Samsung users running outdated software suddenly couldn’t call emergency services.
It’s never ideal when your customer complaint becomes the subject of a government inquiry, and the regulator is checking whether one of those cases involved a death.
TPG shares were down 2%.
ASX LEADERS
Today’s best performing stocks (including small caps) intraday:
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| HCD | Hydrocarbon Dynamics | 0.003 | 50% | 625,153 | $2,874,959 |
| OD6 | Od6Metalsltd | 0.110 | 38% | 11,382,625 | $15,914,359 |
| FCT | Firstwave Cloud Tech | 0.009 | 29% | 20,164,576 | $14,013,166 |
| IMM | Immutep Ltd | 0.320 | 25% | 14,420,539 | $375,798,933 |
| AVE | Avecho Biotech Ltd | 0.010 | 25% | 1,782,189 | $29,387,709 |
| AUA | Audeara | 0.036 | 24% | 1,753,165 | $5,245,785 |
| WR1 | Winsome Resources | 0.380 | 23% | 3,636,501 | $75,630,220 |
| ALY | Alchemy Resource Ltd | 0.011 | 22% | 40,431,600 | $10,692,686 |
| RBR | RBR Group Ltd | 0.022 | 22% | 105,540 | $2,154,779 |
| CMO | Cosmometalslimited | 0.018 | 20% | 30,793,687 | $6,513,701 |
| CTN | Catalina Resources | 0.003 | 20% | 1,010,906 | $7,157,548 |
| NAE | New Age Exploration | 0.003 | 20% | 333,000 | $10,514,779 |
| ODE | Odessa Minerals Ltd | 0.012 | 20% | 129,235 | $17,638,183 |
| SMX | Strata Minerals | 0.024 | 20% | 50,000 | $5,154,544 |
| TEG | Triangle Energy Ltd | 0.003 | 20% | 693 | $5,503,085 |
| IND | Industrialminerals | 0.160 | 19% | 13,000 | $10,843,538 |
| BOA | BOA Resources Ltd | 0.032 | 19% | 754,331 | $3,796,801 |
| FL1 | First Lithium Ltd | 0.130 | 18% | 128 | $11,954,096 |
| DTZ | Dotz Nano Ltd | 0.053 | 18% | 164,160 | $29,287,673 |
| LSR | Lodestar Minerals | 0.018 | 17% | 14,461,694 | $15,208,786 |
| AJX | Alexium Int Group | 0.007 | 17% | 20,783 | $9,654,782 |
| TSL | Titanium Sands Ltd | 0.007 | 17% | 570,000 | $14,068,483 |
| FRX | Flexiroam Limited | 0.015 | 15% | 30,000 | $19,726,182 |
OD6 Metals (ASX:OD6) copped a speeding ticket from the ASX after its shares ripped 50%, but it says there’s no secret news driving the rally.
It isn’t sitting on any undisclosed info, and reckons the spike likely followed a fresh analyst report published by East Coast Research pre-open this morning, which was based entirely on public data. OD6 confirms it’s fully compliant with disclosure rules.
Alchemy Resources (ASX:ALY) said it has struck some serious iron at Valley Bore, with maiden drilling at the Southern Ridge target delivering long runs of high-grade ore over multiple holes.
It says the results validate the scale of the system and build confidence in a fast-track development path, especially with the project already sitting on a granted mining lease and close to major port access.
Cosmo Metals (ASX:CMO) has confirmed shallow high-grade gold at Spring Creek, including a standout hit of 6m at 9.99g/t from just 11m down.
The first five holes from its maiden drill program have validated the earlier high-grade results and confirmed the geometry of the mineralisation, with assays from the remaining eight holes due soon.
ASX LAGGARDS
Today’s worst performing stocks (including small caps) intraday:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| HCF | Hghighconviction | 0.015 | -40% | 3,505 | $485,162 |
| CRS | Caprice Resources | 0.098 | -22% | 20,794,697 | $86,897,494 |
| OEL | Otto Energy Limited | 0.004 | -20% | 350,074 | $23,975,049 |
| BAP | Bapcor Limited | 1.888 | -20% | 8,485,657 | $797,619,375 |
| EWC | Energy World Corpor. | 0.038 | -17% | 1,151,152 | $177,187,393 |
| ECS | ECS Botanics Holding | 0.005 | -17% | 500,000 | $9,576,297 |
| ERA | Energy Resources | 0.003 | -17% | 607,087 | $1,216,188,722 |
| CKA | Cokal Ltd | 0.057 | -16% | 476,632 | $73,368,531 |
| AX8 | Accelerate Resources | 0.006 | -14% | 2,342,857 | $5,818,321 |
| ID8 | Identitii Limited | 0.006 | -14% | 50,000 | $5,761,095 |
| NGX | Ngxlimited | 0.120 | -14% | 223,169 | $12,685,658 |
| ROG | Red Sky Energy. | 0.003 | -14% | 649,216 | $18,977,795 |
| SPX | Spenda Limited | 0.003 | -14% | 4,683,691 | $17,027,004 |
| TER | Terracom Ltd | 0.095 | -14% | 3,971,176 | $88,106,286 |
| DUB | Dubber Corp Ltd | 0.014 | -13% | 13,746,762 | $42,088,037 |
| NOR | Norwood Systems Ltd. | 0.014 | -13% | 393,475 | $8,254,842 |
| PIL | Peppermint Inv Ltd | 0.004 | -13% | 773,800 | $10,036,083 |
| LOC | Locatetechnologies | 0.057 | -12% | 70,000 | $15,555,183 |
| OCT | Octava Minerals | 0.043 | -12% | 322,980 | $5,439,456 |
| BMR | Ballymore Resources | 0.225 | -12% | 136,882 | $52,746,651 |
| AKG | Academies Aus Grp | 0.120 | -11% | 2,800 | $17,902,953 |
| NOX | Noxopharm Limited | 0.088 | -11% | 2,340 | $28,931,557 |
| PGY | Pilot Energy Ltd | 0.004 | -11% | 1,214,972 | $9,713,970 |
| PNT | Panthermetalsltd | 0.008 | -11% | 227,679 | $3,321,219 |
| IS3 | I Synergy Group Ltd | 0.017 | -11% | 119,875 | $32,977,636 |
IN CASE YOU MISSED IT
RLF AgTech (ASX: RLF) releases positive results from the second season of its RLF Durian Nutrition Program in Vietnam, showing stronger yield compared to standard practice in the region.
Critical minerals explorer Locksley Resources (ASX:LKY/OTCQX: LKYRF) has reinforced support for its rare earths and antimony supply strategy from institutional investors in the United States.
GoldArc (ASX:GA8) and BML Ventures have signed a profit-sharing agreement alongside a $2.5m cash advance facility to accelerate development at Mt Stirling.
As its shares have run higher on one of Queensland’s most exciting copper strikes in years, True North Copper (ASX:TNC) has sealed big backing in a $12.5m placement.
Alchemy Resources’ (ASX:ALY) maiden RC drilling at Southern Ridge target confirms the high-grade iron ore mapped at surface at Valley Bore.
Solis Minerals (ASX:SLM) has secured the greenlight to begin drilling at geophysics targets on its Cinto copper project in southern Peru.
Brightstar Resources (ASX:BTR) is building toward a resource upgrade at the Sandstone gold hub after striking more high-grade gold beneath the Bull Oak deposit.
Pinnacle Minerals (ASX:PIM) has resumed exploration at Adina East in Québec’s James Bay region, signalling a renewed push into a key lithium hub.
LAST ORDERS
Green Critical Minerals (ASX:GCM) has officially changed its name to GCM Corporation as of December 9, 2025.
GCM will retain its current ticker, viewing the name-change as a reflection of the company’s growing ambition to deliver commercially impactful thermal management products through the application of its Very High Density (VHD) technology.
“With a clear pathway to commercialisation and growing global engagement, we believe the new name provides a stronger platform to communicate our vision and create long-term value,” managing director Clinton Booth said.
At Stockhead, we tell it like it is. While GCM Corporation 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.
Originally published as Lunch Wrap: Market on edge before RBA decision, Bapcor implodes after slashing guidance
