Lunch Wrap: ASX shrugs off US trade concerns; Nvidia and Bitcoin surge
Tariff turmoil? What tariff turmoil? Taking solid cues from a surging Wall Street, the ASX has bounced back on Thursday
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ASX up 0.62% at lunch time, with miners leading gainers
US markets shrug off White House’s latest tough tariff stance
Imagion moves closer to phase II trial for HER2-positive breast cancer in US
The ASX 200 is up 0.81% to 8607.40 points at 1pm AEST, supported by strength in heavyweight miners and banks. Property stocks are leading the day’s gains.
On Wall Street, the tech-heavy Nasdaq closed nearly 1% higher at a new record, driven by AI giant Nvidia hitting US$4 trillion in intraday trade.
The S&P 500 rose 0.6%, while the Dow Jones added 0.5%.
The US market rally has, for now, brushed aside concerns about the White House’s aggressive global trade stance, suggesting traders are hopeful that negotiations will prevent a full-blown trade war ahead of Trump’s new August 1 deadline.
And Bitcoin has also rallied, surging above US$110,100, after reaching a new high of just north of US$112k during US trade.
Oh, and just in case you're interested in the Aussie dollar… it's trading at around US65.42c.
Seven of the 11 ASX sectors were in the green at lunchtime in the eastern states…
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for July 10 :
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| IBX | Imagion Biosystems | 0.023 | 84% | 127,261,663 | $2,516,768 |
| YRL | Yandal Resources | 0.155 | 70% | 505,541 | $28,140,383 |
| OB1 | Orbminco Limited | 0.0015 | 50% | 500,050 | $3,402,568 |
| PAB | Patrys Limited | 0.0015 | 50% | 253,372 | $2,365,810 |
| CC9 | Chariot Corporation | 0.077 | 40% | 508,948 | $6,564,457 |
| DY6 | Dy6 Metals | 0.3 | 30% | 4,978,961 | $17,126,375 |
| MEM | Memphasys Ltd | 0.005 | 25% | 400,040 | $7,934,392 |
| MTB | Mount Burgess Mining | 0.005 | 25% | 120,680 | $1,702,553 |
| RAN | Range International | 0.0025 | 25% | 1,000,000 | $1,878,581 |
| VFX | Visionflex Group Ltd | 0.0025 | 25% | 198,851 | $6,735,721 |
| SUM | Summit Minerals | 0.055 | 22% | 446,772 | $3,985,924 |
| CCA | Change Financial Ltd | 0.085 | 21% | 2,806,965 | $48,079,711 |
| CDE | Codeifai Limited | 0.029 | 21% | 1,876,726 | $11,255,728 |
| MSG | Mcs Services Limited | 0.006 | 20% | 624,534 | $990,498 |
| SIS | Simble Solutions | 0.006 | 20% | 749,250 | $5,411,652 |
| PRS | Prospech Limited | 0.019 | 19% | 314,659 | $6,061,214 |
| ACM | Aus Critical Mineral | 0.065 | 18% | 259,931 | $2,531,913 |
| ANR | Anatara Ls Ltd | 0.007 | 17% | 33,857 | $1,280,302 |
| RDS | Redstone Resources | 0.0035 | 17% | 1,979,680 | $3,102,802 |
| KAL | Kalgoorliegoldmining | 0.043 | 16% | 1,100,290 | $14,123,237 |
| SRL | Sunrise | 1.02 | 16% | 225,263 | $101,466,147 |
| KM1 | Kali Metals | 0.099 | 15% | 88,036 | $7,124,881 |
| PUA | Peak Minerals Ltd | 0.062 | 15% | 20,118,547 | $156,995,350 |
| LKO | Lakes Blue Energy | 1.03 | 14% | 247,057 | $60,087,935 |
| JAT | Jatcorp Limited | 0.4 | 14% | 78,432 | $29,143,331 |
Imagion Biosystems (ASX:IBX) has moved up in morning trade after announcing it had received formal written feedback from the US Food and Drug Administration (FDA), taking the company a step closer to initiating its phase II clinical trial for HER2-positive breast cancer in the US.
The FDA has provided constructive input on Imagion's MagSense HER2 imaging agent study, helping to shape the clinical trial design and expected outcomes. Imagion's clinical team is set to meet with the regulator in person in the coming week to finalise the formal review process for trial ahead of an investigational new drug (IND) application.
Results from Yandal Resources' (ASX:YRL) aircore drilling across the Caladan target area at the Arrakis prospect have confirmed mineralisation continuity along strike and reinforced the potential of the large-scale target area.
Key intercepts include 11m at 2.1g/t gold from 90m in hole 25IWBAC023, including 7 metres at 3.1g/t from 92 metres. Additional results from hole 25IWBAC032 returned 12m at 1.1g/t from 45m, including 2m at 3.2g/t from 45m and 1m at 2.5g/t from 53m. YRL said results support the exploration upside across the broader Arrakis system.
ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks for July 10 :
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| IS3 | I Synergy Group Ltd | 0.001 | -50% | 2,056,454 | $3,207,679 |
| WEL | Winchester Energy | 0.001 | -50% | 100,000 | $2,726,038 |
| AYM | Australia United Mining | 0.002 | -33% | 980,000 | $5,527,732 |
| PIL | Peppermint Innovation | 0.002 | -33% | 2,658,474 | $6,903,269 |
| RCM | Rapid Critical | 0.002 | -33% | 2,000,000 | $4,247,334 |
| AM7 | Arcadia Minerals | 0.018 | -28% | 4,000 | $2,934,586 |
| AOA | Ausmon Resorces | 0.0015 | -25% | 143,271 | $2,622,427 |
| BMO | Bastion Minerals | 0.0015 | -25% | 9,750,000 | $2,635,636 |
| CTO | Citigold Corp Ltd | 0.003 | -25% | 10,000 | $12,000,000 |
| 1AD | Adalta Limited | 0.002 | -20% | 114,000 | $2,678,291 |
| IMR | Imricor Med Sys | 1.26 | -19% | 1,623,591 | $498,294,077 |
| PNT | Panthermetalsltd | 0.009 | -18% | 5,487,277 | $3,309,950 |
| ADR | Adherium Ltd | 0.005 | -17% | 140,090 | $8,321,749 |
| AUK | Aumake Limited | 0.0025 | -17% | 48,279 | $9,070,076 |
| ECT | Env Clean Tech | 0.0025 | -17% | 12,361 | $12,046,306 |
| ERA | Energy Resources | 0.0025 | -17% | 1,192,012 | $1,216,188,722 |
| IPB | IPB Petroleum Ltd | 0.005 | -17% | 548,000 | $4,238,418 |
| PFE | Pantera Lithium | 0.02 | -17% | 18,517,346 | $11,370,809 |
| PRM | Prominence Energy | 0.0025 | -17% | 195,000 | $1,459,411 |
| SHE | Stonehorse Energy Lt | 0.005 | -17% | 400,000 | $4,106,610 |
| ADD | Adavale Resource Ltd | 0.026 | -16% | 845,459 | $3,545,269 |
| AZL | Arizona Lithium Ltd | 0.006 | -14% | 2,128,455 | $36,892,201 |
| GTR | Gti Energy Ltd | 0.003 | -14% | 1,838,000 | $10,496,324 |
| NAE | New Age Exploration | 0.003 | -14% | 37,315,454 | $9,470,690 |
| SVY | Stavely Minerals Ltd | 0.012 | -14% | 1,347,091 | $7,616,589 |
LAST ORDERS
GTI Energy (ASX:GTR) now has $2.5m of a $4.5m placement in the bank as it awaits the expected shareholder approval of the $1.487m committed by Nasdaq-listed US uranium and nuclear player and GTI neighbour Snow Lake Energy.
The company is also expecting to be approved for drilling into its ISR uranium project in Wyoming next month after submitting permits to the relevant authorities and will soon look towards shareholder approval for a share consolidation and a name change as it establishes its slice of the US yellowcake industry.
DY6 Metals (ASX:DY6) will mobilise the drill teams for an extended reconnaissance programme over its recently expanded Central rutile project in Cameroon after the continued reveal of natural rutile and mineral sands.
Neighbouring Peak Minerals (ASX:PUA) has recently shown off some high-grade returns, and DY6 technical consultant Cliff Fitzhenry said that while a project-wide soil sampling campaign was still very much the plan, it decided to rapidly mobilise the crews to check out the northern portion of its licenses - with a strong suspicion the same mineralisation extends onto its own territory.
Aura Energy (ASX: AEE) has shored up the board effective immediately with the appointment of former Mauritanian Finance Minister and Minister of Economic Affairs and Promotion of Productive Sectors Ousmane Mamoudou Kane as an independent Non-Executive Director.
Aura managing director and CEO Andrew Grove said the company was honoured to welcome Kane to the board, and that his depth of experience in economic development and investment strategy in Mauritania and further abroad would add significant strength as it takes its Tiris uranium project to production.
IN CASE YOU MISSED IT
EZZ Life Science Holdings (ASX: EZZ) has inked a research services deal with the University of Sydney for study on effects on bone growth.
Green Technology Metals (ASX:GT1) is confident that it’s well placed for a lithium market rebound as it advances cost-effective workstreams over its prospective Canadian lithium projects and a strategic review of its portfolio.
ClearVue Technologies (ASX:CPV) is set to form a strategic partnership with LandGlass Technology Co subsidiary LandVac after signing an MoU with the company known for its high-performance, vacuum-insulated glass.
Norwest Minerals (ASX:NWM) has expanded its gold inventory at the Bulgera gold project by 33%, adding 70,800 ounces as it sits on the verge of drilling towards another upgrade northwards of Meekatharra.
Chariot Corporation (ASX:CC9) is snapping up a quartet of new Nigerian lithium projects, a move which can open up an uncommon access to the lucrative Africa-China lithium supply chain.
Decidr AI Industries (ASX:DAI) has entered a contract and partnership with AIM-operating Scentia Australia and achieved a key milestone in its growth trajectory.
Green Critical Minerals (ASX:GCM) has first revenue in its gaze from the Very High Density graphite tech which boasts global electronics applications from semiconductors to thermal solutions.
Imagion Biosystems (ASX:IBX) shares have leapt to attention after the company received positive feedback from the US FDA for its HER2 breast cancer phase II clinical trial.
White Cliff Minerals (ASX:WCN) is preparing to unlock the large-scale red metal potential of its Rae project in Canada’s Nunavut territory with the beginning of diamond drilling.
At Stockhead, we tell it like it is. While GTI Energy, DY6 Metals, Peak Minerals and Aura Energy are Stockhead advertisers, 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 Lunch Wrap: ASX shrugs off US trade concerns; Nvidia and Bitcoin surge
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