Top 10 at 11: ASX climbs… then drops; Focus Minerals cashes in on strong gold price

The ASX lifted marginally in opening trade, then fell, while US President Donald Trump agreed to delay 50% tariffs on Europe.

Pic via 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 10:15, once trading kicks off in earnest.

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

Market up then down as Trump delays 50% tariffs on Europe

Aussie shares lifted marginally higher to start the week before swiftly retreating as President Donald Trump agrees to delay imposing a 50% tariff on European goods until July 9.

"I agreed to the extension – July 9, 2025 – It was my privilege to do so," Trump wrote on Truth Social.

Trump floated a 50% tariff on all EU imports starting June 1, blaming stalled trade talks.

The delay reportedly came after European Commission president Ursula von der Leyen posted on X that she'd had a "good call" with Trump but needed longer to reach a good deal.

Good call with @POTUS.

The EU and US share the world’s most consequential and close trade relationship.

Europe is ready to advance talks swiftly and decisively.

To reach a good deal, we would need the time until July 9.

— Ursula von der Leyen (@vonderleyen) May 25, 2025

At ~10.20am (AEST) the S&P/ASX 200 was up just 0.30 points to start the week with five of six of the 11 sectors in the green. However, by 11am (AEST) it had retreated and was down 3.40 points.

Energy was leading the gainers up 0.95%, followed by tech rising 0.93% and materials gaining 0.39%.

Utilities is the biggest laggards in opening trade, down 2.12% followed by healthcare falling 0.17% and financials dropping 0.16%.

Source: Market Index

Winners

Code	Name	Last	% Change	Volume	Market Cap
FML	Focus Minerals Ltd	0.5	117%	2,488,341	$65,908,488
LNR	Lanthanein Resources	0.002	100%	500,000	$2,443,636
ERA	Energy Resources	0.003	50%	492,615	$810,792,482
FTC	Fintech Chain Ltd	0.003	50%	168,333	$1,301,539
VML	Vital Metals Limited	0.003	50%	3,834,200	$11,790,134
W2V	Way2Vatltd	0.01	43%	34,889,439	$9,890,007
PLN	Pioneer Lithium	0.125	37%	371,922	$3,873,113
MIO	Macarthur Minerals	0.027	35%	3,400	$3,993,310
GMN	Gold Mountain Ltd	0.002	33%	251,374	$7,700,832
MOM	Moab Minerals Ltd	0.002	33%	250,000	$2,600,499

Focus Minerals (ASX:FML) is up 117% in morning trade after announcing it had inked a share purchase agreement o sell 100% of the shares in Focus Minerals (Laverton) Pty Ltd – the holder of the Laverton gold project – to Genesis Minerals (ASX:GMD) for upfront cash consideration of $250 million.

FML said the sale was a strategic decision capitalising on the strong gold price environment to "delivering immediate shareholder value."

Lanthanein Resources (ASX:LNR) has announced that it intends to withdraw from a farm-in agreement it entered in December 2023 with Gondwana Resources Limited for the Lady Grey lithium project to earn up to a 70% interest in tenement E77/2143.

LNR said it remains focused on its strategic objectives and continues to explore and assess acquisitions and investment opportunities to enhance shareholder value.

Way2VAT (ASX:W2V) has signed a three-year contract with global real estate services company JLL who will use its automated accounts payable and travel and entertainment value-added tax (VAT) claim and recovery solutions as well as its AI-driven APAI compliance platform.

W2V said JLLwas expected to be a significant client in terms of annual revenue.

Laggards

Code	Name	Last	% Change	Volume	Market Cap
EDE	Eden Inv Ltd	0.001	-33%	11,000	$6,164,822
JAY	Jayride Group	0.001	-33%	5,807	$2,141,834
MRD	Mount Ridley Mines	0.002	-33%	339,129	$2,335,467
SFG	Seafarms Group Ltd	0.001	-33%	252	$7,254,899
TMX	Terrain Minerals	0.002	-33%	667,500	$6,745,670
RPG	Raptis Group Limited	0.02	-20%	250,000	$4,383,561
ASR	Asra Minerals Ltd	0.002	-20%	620,000	$6,916,340
BIT	Biotron Limited	0.002	-20%	45,000	$3,318,115
ECT	Env Clean Tech Ltd.	0.002	-20%	2	$9,117,026
KPO	Kalina Power Limited	0.004	-20%	272	$14,664,849

Originally published as Top 10 at 11: ASX climbs… then drops; Focus Minerals cashes in on strong gold price