Closing Bell: ASX ends flat, squeezed between resources and telecoms

The ASX closed just about unchanged today, squeezed between strong resource gains and lagging telecom and finance sectors.

Pressed between a buoyant materials sector and dragging telecoms and financials, the ASX has finished trade just about dead flat. Pic: Getty Images

• Resources stocks surge; materials sector up 3.02pc

• ASX 200 Banks fall, shedding 1.3% as finance loses 1.27pc

• Vietnam inks trade deal with US one week ahead of tariff-pause deadline

ASX wobbles to the finish

The ASX 200 was keeping us guessing right to the last minute there, briefly tipping into positive territory before ending trade at -0.02%.

The ASX All Ords did end the day in the green, adding 0.06% on outsized gains from the materials sector (+3.02%).

Resource stocks did the heavy lifting, supported by only energy (+0.82%) and healthcare (+0.60%).

Source: Market Index

The ASX 200 Resources index climbed 2.82%, followed by smaller upticks in the Small Ords (+0.19%), All Tech (+0.19%) and All Ord Gold (+0.13%) indices.

Source: Market Index

The ex-small cap movers were Pilbara Minerals (ASX:PLS) up 11%, Stanmore Resources (ASX:SMR) adding 10%, 29Metals (ASX:29M) up 8.9% and Whitehaven Coal (ASX:WHC), gaining 8.2%.

Vietnam strikes trade deal with US

As Trump’s tariff deadline ticks closer, Vietnam has locked down a trade deal, shedding more than half of soon-to-be-imposed tariffs in the process.

The US President took to Truth Social to announce the trade deal, calling it a “Great Deal of Cooperation”.

As part of the deal, tariffs on exports from Vietnam will be reduced to 20%, but goods that pass through the country in something called “trans-shipping” will be slapped with a 40% import tax.

In return, Hanoi has promised open trade with the US, charging no tariffs on US products. The details are once again elusive, but Vietnam has committed to "providing preferential market access for US goods, including large-engine cars," according to a government statement.

The Trump Organization’s plans to invest $1.5b in hotels, golf courses and luxury real estate alongside local partner Kinh Bac City Development has also been given the rubber stamp.

One of the proposed developments is a Trump Tower in Ho Chi Minh City.

The deal with Vietnam marks only the third to be publicly announced after the UK and China, leaving dozens of countries out in the cold as the July 9 tariff-pause deadline swiftly approaches.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
SFM	Santa Fe Minerals	0.14	352%	1639810	$2,257,382
AGY	Argosy Minerals Ltd	0.034	79%	40878997	$27,662,498
OKJ	Oakajee Corp Ltd	0.033	65%	547791	$1,828,921
REY	REY Resources Ltd	0.015	50%	6666	$2,115,609
AXP	AXP Energy Ltd	0.0015	50%	45000	$6,684,681
ICU	Investor Centre Ltd	0.003	50%	171309	$609,023
PAB	Patrys Limited	0.0015	50%	4369649	$2,365,810
IXR	Ionic Rare Earths	0.018	38%	54768248	$68,476,535
NHE	Nobleheliumlimited	0.035	35%	982639	$15,587,650
AMS	Atomos	0.004	33%	1000000	$3,645,055
MRQ	Mrg Metals Limited	0.004	33%	2668879	$8,179,556
PLG	Pearlgullironlimited	0.008	33%	23200	$1,227,251
ALM	Alma Metals Ltd	0.006	33%	4579516	$7,891,773
ICE	Icetana Limited	0.07	30%	2037188	$28,718,599
WR1	Winsome Resources	0.165	29%	1937590	$31,096,415
G50	G50Corp Ltd	0.2	29%	419139	$24,892,637
AUG	Augustus Minerals	0.027	29%	404104	$3,568,875
EQS	Equitystorygroupltd	0.025	25%	175992	$3,336,408
1AD	Adalta Limited	0.0025	25%	2979897	$2,142,633
AUK	Aumake Limited	0.0025	25%	147767	$6,046,718
CUL	Cullen Resources	0.005	25%	2837583	$2,773,607
FHS	Freehill Mining Ltd.	0.005	25%	50000	$13,655,414
KPO	Kalina Power Limited	0.005	25%	3581916	$11,731,983
MRD	Mount Ridley Mines	0.0025	25%	4242	$1,556,978
THR	Thor Energy PLC	0.01	25%	1103950	$5,686,319

Making news…

Santa Fe Minerals (ASX:SFM) has laid claim to the Eburnea gold project, acquiring it from Turaco Gold (ASX:TCG) in return for 12 million shares, 4m performance rights and a potential 2.5% net smelter royalty.

The company has also locked in commitments for a $1.2m share placement, offered at a 61% premium to its last closing price, to fund exploration at Eburnea. The project has produced broad gold hits of up to 26m at 4.82 g/t and a bonanza intersection of 3m at 35.79 g/t gold that SFM is keen to explore further.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Security	Name	Last	% Change	Volume	Market Cap
EEL	Enrg Elements Ltd	0.001	-50%	85001	$6,507,557
BYH	Bryah Resources Ltd	0.007	-42%	18326548	$10,439,442
CHRCA	Charger Metals	0.01	-41%	5000	$726,049
VEN	Vintage Energy	0.003	-40%	6621802	$10,434,568
CYQ	Cycliq Group Ltd	0.002	-33%	175810	$1,381,550
CDE	Codeifai Limited	0.056	-30%	29133426	$35,435,076
ADY	Admiralty Resources.	0.005	-29%	100000	$18,406,356
CAV	Carnavale Resources	0.003	-25%	6237500	$16,360,874
KLR	Kaili Resources Ltd	0.006	-25%	14599	$1,179,203
SFG	Seafarms Group Ltd	0.0015	-25%	83118	$9,673,198
MPP	Metro Perf.Glass Ltd	0.05	-24%	51732	$12,234,954
WWG	Wisewaygroupltd	0.145	-22%	8140	$30,960,341
MSG	Mcs Services Limited	0.004	-20%	1585283	$990,498
RLG	Roolife Group Ltd	0.004	-20%	3461420	$7,963,906
LMS	Litchfield Minerals	0.1	-17%	137626	$3,485,527
RCM	Rapid Critical	0.0025	-17%	348017	$4,247,334
UBI	Universal Biosensors	0.021	-16%	426388	$7,451,686
NOR	Norwood Systems Ltd.	0.016	-16%	821111	$9,802,625
MDR	Medadvisor Limited	0.064	-15%	3283092	$46,858,879
BLU	Blue Energy Limited	0.006	-14%	835489	$12,956,815
MBK	Metal Bank Ltd	0.012	-14%	372275	$6,964,426
REC	Rechargemetals	0.013	-13%	664534	$3,854,850
RMI	Resource Mining Corp	0.013	-13%	1144947	$11,016,800
OMG	OMG Group Limited	0.007	-13%	94750	$5,826,359
TRI	Trivarx Ltd	0.007	-13%	182013	$4,958,611

Making news…

Bryah Resources (ASX:BYH) has purchased a 0.75% smelter royalty over two mining leases and four exploration licences that form part of the Bryah Basin manganese project.

The royalty relates to manganese rights over the existing 3.066Mt at 20.2% manganese resource at Bryah Basin, purchased in return for 100 million BYH shares.

IN CASE YOU MISSED IT

StockTake: Trek Metals (ASX:TKM) has discovered a gold nugget field at its Turner prospect, part of the Christmas Creek project in WA.

Break it Down: HyTerra (ASX:HYT) has discovered unexpectedly high levels of helium in a well the company is now converting for appraisal.

Perth-based medtech Singular Health (ASX:SHG) has appointed radiologist Dr Alex Alonso as the approved US radiology expert under its binding enterprise agreement with Provider Network Solutions (PNS).

Early drilling success at the TMT project has confirmed the potential of high-priority targets and reinforced confidence in Belararox’s (ASX:BRX) exploration model.

Golden Mile (ASX:G88) has intersected copper-lead in maiden drilling at the Pearl copper project.

ClearVue Technologies’ (ASX:CPV) solar glass is part of a new $20m RMIT-led project exploring how greenhouses could grow more food using less energy in a changing world.

Sipa Resources (ASX:SRI) will shortly start drilling to infill and extend previously identified gold mineralisation at the Bimba and Sheoak prospects.

Pure Hydrogen (ASX:PH2) has signed a distribution agreement with an Argentinian renewable energy company for its heavy-duty hydrogen fuel and battery electric vehicles.

LAST ORDERS

Theta Gold Mines (ASX:TGM) has completed a private $4m placement to Kong Ruihua Green Development Limited, an existing institutional investor and shareholder of TGM.

Having made a decision to mine the TGME Gold Mine in South Africa, TGM is updating its feasibility study, targeting completion by Q3. The fresh capital will support the update, as well as early development works for the mine.

TRADING HALTS

Antipa Minerals (ASX:AZY) – cap raise
BPM Minerals (ASX:BPM) – material tenement acquisition
Chariot Corporation (ASX:CC9) – proposed acquisition
Manuka Resources (ASX:MKR) – cap raise
Unith (ASX:UNT) – cap raise

At Stockhead, we tell it like it is. While Theta Gold Mines 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 Closing Bell: ASX ends flat, squeezed between resources and telecoms