Closing Bell: ASX celebrates EU-US trade deal with 0.36pc jump

The ASX added 0.36pc in trade, climbing on broad strength across eight sectors as an EU-US trade deal settled anxieties around tariffs.

The ASX is celebrating an EU-US trade deal today, green lit with just three days left in Trump’s tariff pause deadline. Pic: Getty Images.

• A trade deal between the EU and US has staved off the worst tariff fears

• Telecoms led gains alongside financials and healthcare

• Banking stocks end bearish run, gaining 0.81pc

ASX holds its nerve

After a shaky start to trade this morning the ASX has maintained its momentum to finish up 0.36%, rising on strength in 8 of 11 sectors.

News the EU had struck a deal with the US just days before Trump’s tariff pause deadline breathed life into the Aussie market, which finished last week on one of its worst five-day averages in months.

While things are definitely looking up on the geopolitical front – more on that in just a moment – there’s still likely to be some curveballs thrown our way as Trump’s deadline expires.

In the meantime, telecom, tech and banking stocks were the stars on the ASX today, lifting their respective sectors and indices in a solid showing of strength.

Source: Market Index

Source: Market Index

The top seven banks made good on the turn in sentiment, each adding between 0.3% (ASX:ANZ) and 1.17% (ASX:CBA).

Taking a peek at the dour side of the ledger, uranium stocks are very much out of favour today.

While there’s good reason Boss Energy (ASX:BOE) shares (-42.9%) are in the dumps (check out our small cap laggards further down the page for details on that), the negative attitude seems to have spilled over onto other uranium miners.

Bannerman Energy (ASX:BMN) finished the day 10.3% lower, Deep Yellow (ASX:DYL) shed 8.3% and small cap Lotus Resources (ASX:LOT) took a 10.2% wallop to its shares.

Relief for markets as EU and US lock in trade deal

Crisis at least partially averted.

The European Union and US have finally come to an agreement on a formal trade deal, just three days before US President Trump’s August 1 tariff pause deadline.

The vast majority of EU goods will be subject to a 15% import tariff, far below the percentages threatened over the last few months and weeks.

EU negotiators were unable to talk down a 50% tariff on steel exports, but secured exceptions for a range of trade goods.

Speaking to reporters in at the Prestwick airport in Glasgow after a face-to-face meeting with Trump, European Commission chief Ursula von der Leyen said there would be no tariffs on “all aircraft and component parts, certain chemicals, certain generics, semiconductor equipment, certain agricultural products, natural resources and critical raw materials”.

Under the trade deal framework, the EU also agreed to buy US$750 billion in oil, gas, nuclear fuel and semi-conductors from the US over the next three years.

Brussels will also invest US$600b in the US within the same time frame, which will include purchases of military equipment.

“I think that what was most important for us was to make sure we would have this predictability and we would have stability for our businesses,” EU trade commissioner Maroš Šefčovič said.

The value of EU-US trade was estimated at €867 billion or just over US$1.017 trillion in 2024 by the European Council of the EU. It’s the largest bilateral trade and investment relationship in the world, with the two countries representing almost 30% of global trade in goods collectively.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Code	Name	Last	% Change	Volume	Market Cap
AUK	Aumake Limited	0.004	100%	10943987	$6,046,718
JCS	Jcurve Solutions	0.045	50%	1405567	$9,910,303
BMO	Bastion Minerals	0.0015	50%	18327495	$1,581,348
OB1	Orbminco Limited	0.0015	50%	111575	$3,402,568
TEM	Tempest Minerals	0.007	40%	6068892	$5,508,975
DMG	Dragon Mountain Gold	0.004	33%	700000	$1,184,015
NOX	Noxopharm Limited	0.097	29%	1109934	$21,917,846
DGR	DGR Global Ltd	0.009	29%	1941715	$7,305,872
CZN	Corazon Ltd	0.0025	25%	46814	$2,369,145
PRM	Prominence Energy	0.0025	25%	20870	$972,941
PRX	Prodigy Gold NL	0.0025	25%	8000000	$12,700,222
WBE	Whitebark Energy	0.005	25%	4176372	$2,802,231
HTG	Harvest Tech Grp Ltd	0.017	21%	896601	$12,726,256
CMB	Cambium Bio Limited	0.32	21%	47960	$4,844,906
FBR	FBR Ltd	0.006	20%	13776270	$28,447,261
ASE	Astute Metals NL	0.025	19%	546047	$12,981,144
IFG	Infocusgroup Hldltd	0.019	19%	2758872	$4,671,027
BDG	Black Dragon Gold	0.051	19%	1072751	$13,672,541
KCC	Kincora Copper	0.072	18%	2176093	$14,345,680
BCK	Brockman Mining Ltd	0.02	18%	843639	$157,763,946
KM1	Kalimetalslimited	0.135	17%	381250	$9,527,457
AKN	Auking Mining Ltd	0.007	17%	611883	$4,128,698
DTM	Dart Mining NL	0.0035	17%	15262000	$3,594,167
ENT	Enterprise Metals	0.0035	17%	185001	$4,113,952
SLA	Solara Minerals	0.285	16%	1026742	$14,206,282

In the news…

Enterprise resource management firm Jcurve (ASX:JCS) has launched a strategic private placement with Colorado-based investor Adam Riches, raising $1m via 20m shares priced at $0.05 each.

The placement price represents a 66.67% premium to the last traded price of $0.0300 – the terms of the investment give Riches the right to appoint a director to the JCS board. Jcurve expects him to select Chris Miller as a non-executive director, current senior vice president of Netgain Solutions.

Noxopharm (ASX:NOX) has completed the first dosing phase of the Heracles trial, assessing auto-immune candidate SOF-SKN’s safety and tolerability profile in a phase 2 clinical trial.

The first part of the trial will run through three more cohorts of four participants, with dosage increasing from one cohort to the next.

FBR (ASX:FBR) has launched its ‘Mantis’ robotic welding product with dynamic stabilisation technology, targeted for the mining, shipbuilding and defence industries.

Management says their research into the welding robot market has revealed an off-the-shelf opportunity to provide a solution for welding large parts, particularly in Western Australia.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Code	Name	Last	% Change	Volume	Market Cap
BOE	Boss Energy Ltd	1.94	-43%	91391621	$1,410,733,137
SEQ	Sequoia Fin Grp Ltd	0.24	-29%	1609743	$41,713,954
MTB	Mount Burgess Mining	0.005	-29%	4508431	$2,979,468
IS3	I Synergy Group Ltd	0.008	-27%	2537847	$18,769,299
NIM	Nimyresourceslimited	0.068	-25%	4363194	$21,883,752
HLX	Helix Resources	0.0015	-25%	2140006	$6,728,387
NAE	New Age Exploration	0.003	-25%	859455	$10,823,646
SMM	Somerset Minerals	0.014	-22%	13976999	$11,611,449
MRD	Mount Ridley Mines	0.002	-20%	100000	$1,946,223
PKO	Peako Limited	0.002	-20%	12750000	$3,719,355
TMK	TMK Energy Limited	0.002	-20%	5125666	$25,555,958
DAF	Discovery Alaska Ltd	0.013	-19%	20001	$3,747,755
ATS	Australis Oil & Gas	0.009	-18%	2560919	$14,498,687
ASM	Ausstratmaterials	0.59	-18%	3094888	$145,689,194
CRN	Coronado Global Res	0.205	-18%	35585733	$419,113,433
D3E	D3 Energy Limited	0.28	-18%	487605	$27,021,502
ALB	Albion Resources	0.095	-17%	6115242	$15,172,333
AZL	Arizona Lithium Ltd	0.0075	-17%	5298764	$48,422,830
EE1	Earths Energy Ltd	0.005	-17%	30000	$3,179,785
SKK	Stakk Limited	0.005	-17%	461282	$12,450,478
TMX	Terrain Minerals	0.0025	-17%	2352454	$7,595,443
VEN	Vintage Energy	0.005	-17%	99681	$12,521,482
SUM	Summitminerals	0.041	-16%	1138270	$4,340,228
AR3	Austrare	0.11	-15%	722837	$27,558,357
GL1	Globallith	0.195	-15%	1350751	$60,198,388

In the news…

Boss Energy (ASX:BOE) has been in the wars today, losing almost half its share price despite exceeding uranium production guidance (349k lb) and maintaining strong cash ($224m) and inventory this quarter.

The uranium stock’s latest analysis of the Honeymoon ISR uranium project revealed some serious disappointments, specifically in grade and continuity of mineralisation. Management says more extraction wells will be needed, driving up costs and extending production ramp-up timeframes.

IN CASE YOU MISSED IT

StockTake: Greenvale Energy (ASX:GRV) kicks off Queensland uranium campaign at Oasis.

Power Minerals (ASX:PNN) has gained water drilling approval to advance the Pocitos lithium production hub.

Sovereign Metals’ (ASX:SVM) Kasiya rutile-graphite project has continued to deliver as escalating tariff wars highlight its global significance.

The latest RC drilling program from QMines’ (ASX:QML) Sulphide City deposit has returned high-grade hits of copper, zinc and silver.

Mt Malcolm Mines (ASX:M2M) has started drilling at the Sunday Picnic prospect, one of the “most technically compelling” targets at its Malcolm project in WA’s Eastern Goldfields.

Many Peaks Minerals (ASX:MPK) has confirmed an extensive mineralised corridor at the Ferké Gold project in Côte d’Ivoire, West Africa, including intrusion material earmarked for immediate follow-up.

LinQ Minerals (ASX:LNQ) has started an extensive drilling program at its Gilmore project in NSW on the hunt for potential extensions to historical gold-copper.

Alterity Therapeutics (ASX:ATH) reports positive topline results from open-label phase II clinical trial of lead drug ATH434 in multiple system atrophy.

Norfolk Metals (ASX:NFL) has raised $3.5 million in a placement to fund its maiden drilling of the Carmen copper project in Chile.

Detailed magnetic and VTEM survey takes to the skies across Miramar Resource’s (ASX:M2R) Bangemall asset in WA’s Gascoyne, targeting massive nickel-copper-PGE sulphides.

Compumedics (ASX:CMP) has signed two new four-year distribution agreements with long-standing partners in China worth a combined $24.4 million.

LAST ORDERS

Asra Minerals (ASX:ASR) has wrapped up a 23-hole, 2070-metre drilling program at the Eclipse prospect, part of the Leonora South gold project.

ASR expects to receive the results from the lab as early as September. In the meantime, the drilling rig is back at work at the Challenge prospect polishing off the remainder of the 3000m program. Both prospects are within 200m of the Sapphire deposit’s 21,600oz resource.

Trigg Minerals (ASX:TMG) has welcomed former Rio Tinto and Mandalay Resources antimony expert Chris Gregory to the board as a non-executive director. TMG intends to leverage his experience to fast track development of the Antimony Canyon project in Utah.

Trading Halts

Axel REE (ASX:AXL) – initial metallurgical results at Caladão Project
Codeifai (ASX:CDE) – cap raise
Pinnacle Minerals (ASX:PIM) – cap raise
Resource Development Group (ASX:RDG) – financial position update following creditor correspondence
Saturn Metals (ASX:STN) – response to media article
SportsHero (ASX:SHO) – cap raise
Viridis Mining & Minerals (ASX:VMM) – cap raise

At Stockhead, we tell it like it is. While Asra Minerals and Trigg Minerals 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 Closing Bell: ASX celebrates EU-US trade deal with 0.36pc jump