ASX Lunch Wrap: ASX and gold reset record highs; but Origin cuts its LNG forecast

ASX hits record high, gold as well, Apple misses iPhone target, Mesoblast rises and Origin trims LNG forecast.

ASX touches all time high, with gold also breaking record. Pic: Getty Images

• ASX hits record high as miners lead gains

• On Wall Street, Apple reports a slight miss on iPhone sales

• Mesoblast rises, Origin cuts LNG forecast

The ASX 200 benchmark touched an all-time record of 8566 points before pulling back slightly. At around lunch time Friday, the index was up 0.55% to trade at 8540.

The surge was driven by a lift from the mining sector and a broad rally in the US markets overnight.

On Wall Street, the S&P 500 index closed 0.5% higher, but things got a little rocky in late trading after President Trump threatened once again to slap 25% tariffs on imports from Mexico and Canada... as early as tomorrow.

The news sent the markets into a brief tailspin, though stocks managed to recover.

Apple rose 3% post-market after reporting a slight miss on iPhone sales, but still beat earnings expectations with strong performances from iPads and Macs.

Aussie tech firm Atlassian was a big winner, jumping 20% after announcing impressive cloud revenue growth of 30%, beating its own forecast.

Meanwhile, gold prices are going through the roof, hitting a new all-time high of almost US$2,800/oz. The surge comes after disappointing data on the US economy, where growth in the last quarter of 2024 was slower than expected.

On the ASX this morning, miners, including goldies, were the stars, while real estate stocks also enjoyed a good session.

Source: MarketIndex

Source: MarketIndex

In the the large caps space, healthcare giant Ramsay Health Care (ASX:RHC) dipped 0.7% after its Aussie CEO, Carmel Monaghan, revealed she’ll retire mid-year after 27 years at the helm.

Over at Tabcorp Holdings (ASX:TAH), ex-AFL CEO Gillon McLachlan is now officially taking the reins after the company’s leadership reshuffle. Shares were up 1%.

Mesoblast (ASX:MSB) rose 2% on the launch of its FDA-approved Ryoncil (remestemcel-L) for treating steroid-refractory acute graft-versus-host disease (SR-aGvHD) in kids. After securing US$160 million in financing, Mesoblast said it now has US$200 million cash in hand, giving it the muscle to meet demand.

Meanwhile, Origin Energy (ASX:ORG) has lowered its LNG output forecast for FY25 after facing operational setbacks. Despite this, the company saw a 3% increase in revenue for the December quarter due to higher LNG prices. ORG’s shares slipped 4.5%, dragging down the utilities sector.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for January 31 :

Security	Description	Last	%	Volume	MktCap
SIO	Simonds Grp Ltd	0.200	33%	83,349	$53,985,968
SHN	Sunshine Metals Ltd	0.009	29%	15,884,232	$11,113,514
MVP	Medical Developments	0.558	27%	578,038	$49,569,663
GDM	Greatdivideminingltd	0.410	26%	83,583	$9,135,208
CTO	Citigold Corp Ltd	0.005	25%	1,691,569	$12,000,000
GES	Genesis Resources	0.005	25%	117,400	$3,131,365
MEL	Metgasco Ltd	0.005	25%	171,243	$5,830,347
RLG	Roolife Group Ltd	0.005	25%	100,000	$4,784,125
14D	1414 Degrees Limited	0.027	23%	72,777	$6,270,027
MTB	Mount Burgess Mining	0.006	20%	206,018	$1,697,687
SPQ	Superior Resources	0.006	20%	150,000	$10,849,319
MAG	Magmatic Resrce Ltd	0.050	19%	308,803	$17,516,130
PUA	Peak Minerals Ltd	0.013	18%	1,364,925	$28,073,213
1AI	Algorae Pharma	0.007	17%	1,089,299	$10,124,368
FHS	Freehill Mining Ltd.	0.004	17%	1,662	$9,235,583
MEM	Memphasys Ltd	0.007	17%	367,134	$10,626,089
KAI	Kairos Minerals Ltd	0.015	15%	7,325,490	$34,201,858
SFM	Santa Fe Minerals	0.039	15%	20,000	$2,475,839
BLU	Blue Energy Limited	0.008	14%	350,000	$12,956,815
HHR	Hartshead Resources	0.008	14%	21,762,201	$19,660,775

Homebuilding group, Simonds (ASX:SIO), is set to acquire Dennis Family Homes (DFH) for $10 million. DFH, which builds and sells residential homes in Victoria and NSW, aligns perfectly with Simonds’ strategy to expand affordable homes across Australia, Simonds said. The deal will more than double Simonds' product range and increase its market presence.

Deterra Royalties (ASX:DRR), the spin-off from Iluka Resources (ASX:ILU), reported an 11.7% rise in revenue from September to December, reaching $59.3 million on the back of record iron ore volumes. During the quarter, the company also made good traction with its Thacker Pass lithium project in Nevada, securing a US$2.3 billion loan from the US Department of Energy and a $625 million joint venture with GM to fund and run the site.

Sunshine Metals (ASX:SHN) said it’s drilling deep into its top projects in Queensland, with the Ravenswood Consolidated Project leading the charge. The project just saw a 57% jump in gold resources and positive results from recent drilling at the Gap Zone, with gold recoveries hitting 97.4% and copper at 95.2%. During the quarter, Sunshine also wrapped up the sale of its Triumph Gold Project for $2 million.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for January 31 :

Code	Name	Price	% Change	Volume	Market Cap
1TT	Thrive Tribe Tech	0.002	-33%	940,692	$6,095,169
ERA	Energy Resources	0.002	-33%	912,497	$1,216,188,722
ATH	Alterity Therap Ltd	0.013	-31%	62,880,140	$95,767,764
BDT	Birddog	0.041	-27%	3,202,242	$9,043,217
88E	88 Energy Ltd	0.002	-25%	575,323	$57,867,624
AKN	Auking Mining Ltd	0.003	-25%	150,000	$2,059,115
EEL	Enrg Elements Ltd	0.002	-25%	21,487	$6,507,557
ERL	Empire Resources	0.003	-25%	43,720	$5,935,653
DAF	Discovery Alaska Ltd	0.015	-25%	624,594	$4,684,694
JAT	Jatcorp Limited	0.375	-24%	283,044	$41,216,997
DUB	Dubber Corp Ltd	0.041	-24%	15,100,329	$140,375,749
ADR	Adherium Ltd	0.012	-20%	342,051	$11,378,699
ADD	Adavale Resource Ltd	0.002	-20%	420,032	$5,683,198
ASR	Asra Minerals Ltd	0.003	-17%	200,000	$6,937,890
AUG	Augustus Minerals	0.040	-17%	1,208,847	$5,721,189
LML	Lincoln Minerals	0.005	-17%	5,385,554	$12,337,557
TAS	Tasman Resources Ltd	0.005	-17%	2,160,982	$4,831,498
1AE	Auroraenergymetals	0.048	-16%	122,365	$10,206,633
PBH	Pointsbet Holdings	0.830	-15%	3,294,907	$325,090,767
PEN	Peninsula Energy Ltd	1.115	-15%	2,536,396	$209,921,596
OCT	Octava Minerals	0.080	-15%	211,918	$5,734,875
DTR	Dateline Resources	0.003	-14%	284,630	$8,806,912

IN CASE YOU MISSED IT

Everest Metals (ASX:EMC) is issuing $720,000 in Junior Minerals Exploration Incentive (JMEI) exploration credits to eligible shareholders who participated in the company's $2.4 million capital raising in the last quarter of 2023. Through the JMEI scheme, explorers can convert a portion of their tax losses into credits, which are then passed on to investors as a tax benefit.

Clinical-stage biopharma developer Neurotech International (ASX:NTI) has received a $2.44 million R&D tax incentive refund relating to activities in FY24. The refund strengthens NTI’s cash position as it works to complete the required animal toxicology and human pharmacokinetic studies in preparation for regulatory submissions to the Australian Therapeutic Goods Administration and the US Food and Drug Administration in FY25.

At Stockhead, we tell it like it is. While Everest Metals Corporation and Neurotech International 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 ASX Lunch Wrap: ASX and gold reset record highs; but Origin cuts its LNG forecast