Closing Bell: Party on the ASX as market amps up the bass, raves to new heights

The ASX is feeling the rhythm, pounding 1.37pc higher on a raver of a trading day as all 11 sectors make gains once again.

Crank up that bass! The ASX is partying to new record highs today. Pic: Getty Images.

• ASX surges 1.37pc, smashing through record to close at 8757 points

• All 11 sectors neon green, up between 2.47pc and 0.46pc

• Healthcare and resources stocks crank higher, leading gains

DJ play it louder

It was a raver of a party on the ASX today, surging 1.37% in its best performance since April.

Just as we’d finished celebrating its latest record breaking close last night, the ASX smashed through that barrier by a solid 100 points, setting the new ceiling at 8757.

Traders were riffing off weaker-than-expected employment data at home yesterday – strongly signalling another interest rate cut in August – and better-than-expected retail data out of the US today.

Retail numbers over the pond lifted 0.6% compared to fears of just 0.1% in June, soothing fears of a major economic slowdown and lowering simmering tensions between the White House and the Fed Reserve.

It all came together to set a pulsing beat for Aussie trade today, with every sector joining the party again.

Healthcare (+2.47%) and materials (+2.06%) were strutting their stuff, showing the rest of the market how it’s done.

Source: Market Index.

The ASX 200 Resources index topped the indices charts today, lifting 1.88%, but the banks, tech and gold indices were enjoying the neon lights just as much.

Source: Market Index.

Health and resource stocks break it down

With the entire market feeling the rhythm, let’s take a closer look at why some stocks killed it in trade today.

Mesoblast (ASX:MSB) pumped it up, surging 34.6% on sale numbers for its stem cell product Ryoncil. It’s only been on the shelves since late March, but MSB has already raked in US$13.2 million gross revenue (unaudited).

Clarity Pharmaceuticals (ASX:CU6) is also kicking it, hot stepping 11.7% higher after completing recruitment for a study assessing a new imaging agent for prostate cancer. It’s a disease with a huge unmet need, and a global market estimated at US$12.9 billion.

Flipping to our resources track, battery metals got a kick from surging lithium and rare earth stocks on Wall Street overnight, benefiting from improving sentiment around the critical commodities (and some fresh tension with China over supply chains).

While they’ve had no news the last couple days, Pilbara Minerals (ASX:PLS) jumped 8.5% and Brazilian Rare Earths (ASX:BRE) 10.2%. They were joined by Iluka Resources (ASX:ILU), up just about 5% and Min Res (ASX:MIN) up 4.8%.

We can’t mention resources without acknowledging today’s dancing queen – BHP (ASX:BHP) smashed it in trade, adding more than a dollar to its share price after hitting some of its best production numbers ever.

“ iron ore out of WA smashed records, with South Flank running above nameplate in its first full year. Even the coal division chipped in, lifting output 5% despite getting slapped by wet weather and moody geology at Broadmeadow,” our own Eddy Sunarto reported in today’s Lunch Wrap.

“Over in copper, BHP pumped out over 2 million tonnes group-wide, a record haul in a metal that’s fast becoming the lifeblood of the clean energy boom.”

BHP shares closed out the day 3% higher at $40.29 each.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Code	Name	Last	% Change	Volume	Market Cap
IS3	I Synergy Group Ltd	0.002	100%	29425880	$1,706,300
TR2	Tali Resources Ltd	0.37	85%	2480529	$7,501,000
AS2	Askarimetalslimited	0.012	50%	43553469	$3,233,365
AUH	Austchina Holdings	0.0015	50%	558600	$3,025,384
GGE	Grand Gulf Energy	0.003	50%	11211	$5,640,850
VRC	Volt Resources Ltd	0.005	43%	3745598	$16,396,973
DTZ	Dotz Nano Ltd	0.041	37%	2134834	$17,761,929
VBS	Vectus Biosystems	0.05	35%	65744	$1,971,298
ALR	Altairminerals	0.004	33%	593100	$12,890,233
FAU	First Au Ltd	0.004	33%	1234769	$6,228,874
HLX	Helix Resources	0.002	33%	1760084	$5,046,291
SHP	South Harz Potash	0.004	33%	1181196	$3,849,186
FAL	Falconmetalsltd	0.665	32%	3759496	$89,385,000
BRX	Belararoxlimited	0.08	31%	674443	$9,881,938
IPB	IPB Petroleum Ltd	0.007	27%	1580453	$3,885,217
PIL	Peppermint Inv Ltd	0.0025	25%	404020	$4,602,180
PXX	Polarx Limited	0.01	25%	5175889	$19,004,008
ROG	Red Sky Energy.	0.005	25%	527666	$21,688,909
CYP	Cynata Therapeutics	0.185	23%	1513058	$33,893,155
CHL	Camplifyholdings	0.49	23%	133350	$28,600,140
LMG	Latrobe Magnesium	0.011	22%	16487031	$23,639,310
NVQ	Noviqtech Limited	0.039	22%	721525	$8,049,170
ZGL	Zicom Group Limited	0.14	22%	126775	$24,674,401
INF	Infinity Lithium	0.017	21%	302402	$6,616,289
FRS	Forrestaniaresources	0.145	21%	1666346	$37,322,691

Making news...

With copper prices heating up, Askari Metals (ASX:AS2) is hitting all the right notes at the Nejo gold project in Ethiopia, unearthing 14m at 3.2% and 35m at 0.82% copper in historical drilling results.

The company has at least 6 copper targets to hit with the drill bit, with one of particular interest stretching over a 600m by 30m strike.

There’s also more than 1170 square kilometres of project to explore in a fertile, underexplored region in the same greenstone belt as the 3.4-million-ounce Kurmuk Mine and the 1.7-million-ounce Tulu Kapi Mine.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Code	Name	Last	% Change	Volume	Market Cap
PAB	Patrys Limited	0.001	-50%	4095800	$4,731,620
1TTDB	Thrive Tribe Tech	0.011	-45%	688814	$2,031,723
AOK	Australian Oil.	0.002	-33%	2400330	$3,005,349
CRB	Carbine Resources	0.003	-25%	459	$4,000,652
CT1	Constellation Tech	0.0015	-25%	1956076	$2,949,467
EEL	Enrg Elements Ltd	0.0015	-25%	20495001	$6,507,557
NPM	Newpeak Metals	0.021	-25%	1155564	$9,018,008
BUY	Bounty Oil & Gas NL	0.002	-20%	276214	$3,903,680
MEL	Metgasco Ltd	0.002	-20%	120000	$4,581,467
QXR	Qx Resources Limited	0.004	-20%	1157066	$6,551,644
TOU	Tlou Energy Ltd	0.025	-19%	123162	$40,256,114
PLN	Pioneer Lithium	0.115	-18%	17378	$6,182,636
ADG	Adelong Gold Limited	0.005	-17%	16008493	$13,492,060
ADR	Adherium Ltd	0.005	-17%	3640331	$9,438,997
CHM	Chimeric Therapeutic	0.005	-17%	9498886	$12,091,165
TEG	Triangle Energy Ltd	0.0025	-17%	1460016	$6,267,702
XPN	Xpon Technologies	0.01	-17%	321808	$4,971,039
FRM	Farm Pride Foods	0.29	-16%	244556	$79,622,983
ORD	Ordell Minerals Ltd	0.35	-16%	427461	$17,773,483
SRI	Sipa Resources Ltd	0.017	-15%	5553643	$8,327,966
AN1	Anagenics Limited	0.006	-14%	7576	$3,474,243
ECT	Env Clean Tech Ltd.	0.003	-14%	200000	$14,054,024
ID8	Identitii Limited	0.006	-14%	29293	$5,446,095
OMG	OMG Group Limited	0.006	-14%	201588	$5,098,064
TYX	Tyranna Res Ltd	0.003	-14%	79120	$11,509,489

IN CASE YOU MISSED IT

Aldoro Resources (ASX:ARN) continues to build the Kameelburg niobium and REE project’s scale with TREO results up to 2.1pc.

Break it Down: AnteoTech’s (ASX:ADO) recent testing of its Ultranode X battery has achieved nearly 900 cycles at 80% capacity retention.

Hillgrove Resources (ASX:HGO) made further operational improvements at Kanmantoo copper mine in South Australia, improving both mine development and ore processing numbers.

TRADING HALTS

Arika Resources (ASX:ARI) – ASX price query response
Aurumin (ASX:AUN) – potential change of control
Brightstar Resources (ASX:BTR) – change of control and cap raise
Dart Mining (ASX:DTM) – Triumph drilling results
Power Minerals (ASX:PNN) – cap raise
Tivan (ASX:TVN) – material fluorite project deals

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Closing Bell: Party on the ASX as market amps up the bass, raves to new heights