Top 10 at 11: ASX climbs 0.4pc on broad strength, led by energy

The ASX has climbed 0.4pc in the first hour of trade, pushed higher by broad strength and a surging Energy sector

The ASX is showing broad strength this morning, climbing 0.4pc higher. Pic: Getty Images

Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.

With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest.

In brief, this is what the markets have been up to this morning.

International markets take a breath

Little change in global markets last night, with most stock exchanges taking a moment to assess as the world awaits the results of the latest US-China trade discussions.

Amazon’s plans to invest another US$20 billion in data centres pushed semiconductor stocks higher. AMD and Texas Instruments added 3%, Nvidia climbed 0.6% and Qualcomm lifted 4.1% after moving to acquire Alphawave for US$2.4 billion.

The Dow fell by 1 point, the S&P500 added 0.1% and the Nasdaq ticked up 0.3%.

Over in Europe, trading was even more subdued due to market closures over the Whit Monday holiday.

Utilities slid 0.3%, and both the UK FTSE 100 and FTSEEurofirst 300 indices fell by 0.1%.

ASX rides energy higher

The ASX has had a strong start to trading, up 0.4% as of about 10:30 am AEST. Energy is leading the bourse higher, adding 2% with 10 of 11 sectors on the up.

The ASX All Tech index is also climbing, with lesser gains in the ASX 200 Resources and Banks indices.

The ASX All Ords Gold is heading in the other direction, down 2.36% this morning despite a 0.2% lift in gold prices to US$3354.9/oz overnight.

Now, onto our market movers for the morning…

WINNERS

Code	Name	Last	% Change	Volume	Market Cap
ICE	Icetana Limited	0.037	131%	4385803	$7,010,282
KTA	Krakatoa Resources	0.015	50%	24185698	$6,201,340
RNX	Renegade Exploration	0.006	50%	8909270	$5,153,454
DAL	Dalaroometalsltd	0.042	35%	2802161	$7,717,510
HLX	Helix Resources	0.002	33%	6075136	$5,046,291
SRN	Surefire Rescs NL	0.002	33%	125000	$3,729,668
KGD	Kula Gold Limited	0.009	29%	19690819	$6,448,776
ASR	Asra Minerals Ltd	0.0025	25%	1533343	$5,533,072
CZN	Corazon Ltd	0.0025	25%	975851	$2,369,145
EDE	Eden Inv Ltd	0.0025	25%	1101963	$8,219,762

In the news...

Security AI software company icetana AI (ASX:ICE) has locked in four agreements with SoftBank Robotics Group Corp and its subsidiaries with a total value of $3.6m. Softbank will become an exclusive distributor of icetana AI in Japan, committing to a minimum purchase agreement of US$450k on a recurring annual basis.

The Singapore arm of Softbank Robotics will also take a 17.6% stake in icetana with an investment of $1.87m, and the two companies will work together to integrate ICE’s AI analytics with Softbank’s automation and security solutions via a $1.08m three-year joint product development program.

Krakatoa Resources (ASX:KTA) is gearing up to drill 8000-10,000m at the Zopkhito antimony-gold project, targeting extensions to antimony veins and a gold-rich alteration halo to grow the existing resource (non-JORC) of 26,000 tonnes of antimony and just over 815,000oz of gold.

Gold chip assays of up to 71.85g/t gold have highlighted potential for epithermal style gold at Renegade Exploration’s (ASX:RNX)Nevada project, where a review of 48 historical rock chip samples have averaged 7.54 g/t gold over a 7km strike.

Dalaroo Metals (ASX:DAL) has opted to acquire up to 80% of the Bongouanoa gold project in Cote D’Ivoire after a review of historical exploration data revealed gold hits up to 3m at 34.29g/t gold.

Kula Gold (ASX:KGD) hit bonanza-grade gold at the Mt Palmer gold project, including 3m at 38.5g/t gold from 33m and 3m at 33.6 g/t gold from 18m of depth.

The company reckons the shallow nature of the mineralisation shows potential for a low-cost open pit configuration.

LAGGARDS

Code	Name	Last	% Change	Volume	Market Cap
FTC	Fintech Chain Ltd	0.002	-33%	104500	$1,952,309
LNR	Lanthanein Resources	0.001	-33%	431800	$3,665,454
AAU	Antilles Gold Ltd	0.004	-20%	6667027	$11,556,838
RC1	Redcastle Resources	0.004	-20%	4555	$3,717,835
TEM	Tempest Minerals	0.004	-20%	1000000	$3,672,649
TMX	Terrain Minerals	0.002	-20%	53000	$5,621,392
NGX	Ngxlimited	0.12	-17%	1090	$13,138,717
FBR	FBR Ltd	0.005	-17%	2260016	$34,136,713
MGU	Magnum Mining & Exp	0.005	-17%	50000	$6,729,905
TMK	TMK Energy Limited	0.0025	-17%	466666	$30,667,149

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

Originally published as Top 10 at 11: ASX climbs 0.4pc on broad strength, led by energy