S&P/ASX 200 rose 1% in June with large caps leading gains with mid, small and emerging companies lagging
S&P/ASX 200 financials and consumer staples were the top performers in June with materials the biggest laggard
Urea fertiliser company NeuRizer and heavy mineral sands explorer MRG Metals were the biggest winners for June
Australia’s S&P/ASX 200 edged higher and closed the last month of FY24 up 1%. Large-cap companies continued to lead, with the YTD return differential between the S&P/ASX 50 and the S&P/ASX Small Ordinaries widening to 2%, according to S&P Dow Jones Indices (S&P DJI).
Looking at key economic data coming out in June and the Australian CPI climbed to its highest level in 2024, further reducing chances that the Reserve Bank of Australia (RBA) will cut interest rates any time soon.
According to new data from the Australian Bureau of Statistics (ABS), inflation is marching upward again with the monthly CPI indicator hitting 4% for May, much higher than April’s 3.6%, and above the 3.8% the market had forecast.
The RBA’s preferred measure of inflation – trimmed mean – rose to 4.4% in May from 4.1% in April.
The monthly inflation data is less comprehensive compared to the quarterly figures, which are scheduled for release on July 31. The quarterly inflation rate is forecast to rise to 3.8% for the April-June period, up from 3.6% in the March quarter.
IG Markets senior analyst Tony Sycamore says May’s rise in trimmed mean inflation puts pressure on the RBA to lift rates again. Several economists have warned the RBA may lift rates at its next June meeting.
“This means it will likely take a significant and unlikely downside surprise in June inflation data to prevent the RBA from delivering a fourteenth-rate hike to 4.60% before year-end,” Sycamore says.
Chart via S&P
Financials fronted up in June
Three of the 11 sectors finished in the red in June. The S&P/ASX 200 Financials and Consumer Staples were among the best performing sectors with 5.07% and 4.6% gains in June. The S&P/ASX 200 Financials has extended its YTD gains to 16.57%, while Consumer Staples having been in the red YTD is now in the black with a 2.15% gain.
The S&P/ASX 200 Information Tech sector remains the top performer for 2024, up ~28% YTD.
The S&P/ASX 200 Materials sector had the biggest fall of 6.49% in June and is the worst-performing sector YTD, down 11.69%.
Read Josh Chiat’s > Up, Up, Down, Down: Metals stink up the joint in a tough June
Chart via S&P
Among factor/thematic indices, the S&P/ASX 300 Shareholder Yield and the S&P/ASX 300 Net Zero 2050 Paris-Aligned ESG were among the best performers in June, extending their YTD excess returns versus the S&P/ASX 300 to 3% and 5%, respectively.
Chart via S&P
Fixed income volatile
S&P Global says Australian fixed income indices had volatile sessions in June as inflation accelerated faster than expected for three consecutive months, increasing uncertainties with the RBA’s upcoming policy rate decision in August.
Chart via S&P
Here were the 50 best performing ASX stocks for June:
Scroll or swipe to reveal table. Click headings to sort.
CODE COMPANY LAST SHARE PRICE MAY RETURN % MARKET CAP NRZ Neurizer Ltd 0.013 550% $24,731,598 MRQ MRG Metals Limited 0.004 300% $10,100,475 SCL Schrole Group Ltd 0.46 156% $16,539,322 ACW Actinogen Medical 0.062 148% $123,420,268 CE1 Calima Energy 0.008 131% $5,067,488 OIL Optiscan Imaging 0.235 124% $183,774,977 8VI 8Vi Holdings Limited 0.135 121% $6,286,713 VN8 Vonex Limited. 0.035 119% $12,664,002 COV Cleo Diagnostics 0.34 100% $28,152,000 ENR Encounter Resources 0.74 100% $286,275,814 TTM Titan Minerals 0.048 92% $79,977,935 DXN DXN Limited 0.064 88% $12,942,255 EZZ EZZ Life Science 1.845 86% $70,616,988 K2F K2Fly Ltd 0.185 85% $33,646,894 BIO Biome Australia Ltd 0.58 81% $111,847,269 DRO Droneshield Limited 1.72 79% $1,250,582,640 T88 Taiton Resources 0.145 79% $7,797,309 FRS Forrestania Resources 0.034 79% $5,177,144 SUM Summit Minerals 0.34 70% $23,028,808 AHF Aust Dairy Limited 0.022 69% $14,866,436 GCM Green Critical Minerals 0.005 67% $4,546,340 LTP LTR Pharma Limited 0.78 63% $53,860,198 SIX Sprintex Ltd 0.05 61% $26,049,615 LPM Lithium Plus 0.16 60% $21,174,400 NIM Nimy Resources 0.064 60% $9,452,535 TM1 Terra Metals Limited 0.072 60% $23,070,738 AL3 AML3D 0.095 58% $32,430,517 FAL Falcon Metals 0.25 56% $44,250,000 FTL Firetail Resources 0.072 54% $13,943,067 AXI Axiom Properties 0.07 52% $28,559,101 AKM Aspire Mining Ltd 0.33 50% $177,672,945 1MC Morella Corporation 0.003 50% $18,536,398 ADG Adelong Gold Limited 0.006 50% $6,707,934 AYM Australia United Mining 0.003 50% $5,527,732 OAU Ora Gold Limited 0.006 50% $35,705,798 SIT Site Group Int Ltd 0.003 50% $7,807,471 VPR Volt Group 0.0015 50% $16,074,312 WEL Winchester Energy 0.003 50% $4,081,688 XRG Xreality Group Ltd 0.055 49% $29,316,385 WWG Wiseway Group 0.11 47% $18,402,326 TVN Tivan Limited 0.073 46% $123,446,177 CCO The Calmer Co International 0.008 45% $9,669,200 M2M Mt Malcolm Mines NL 0.026 44% $4,052,964 JAT Jatcorp Limited 0.66 43% $49,127,186 RCL Readcloud 0.083 43% $11,842,565 SGQ St George Mining 0.0255 42% $23,724,970 FND Findi Limited 4.7 42% $232,293,812 ZGL Zicom Group Limited 0.066 40% $16,950,241 SEG Sports Entertainment Group 0.28 40% $74,787,225 CLA Celsius Resource Ltd 0.014 40% $36,418,691
Urea fertiliser company NeuRizer (ASX:NRZ) was the biggest winner for June with a 550% gain, despite spending much of the month not trading.
NEU announced a trading halt on June 14 and said on June 18 it would be suspended from quotation “pending an announcement regarding an ASX price query letter and response, along with an announcement in relation to a material acquisition”.
Come end of the month and NEU was still in a voluntary suspension, telling the market “the voluntary suspension will continue until the company is in a position to make the relevant announcement.”
MRG Metals (ASX:MRQ) also had a strong June (+300%) after inking a joint venture with Sinowin Lithium to develop its Mozambique Corridor Sands projects (Corridor Central and Corridor South) and its other Mozambique Heavy Mineral Sands projects.
Actinogen Medical’s (ASX:ACW) rose 148% after announcing positive results of its Phase 2a biomarker trial for Alzheimer’s Disease candidate Xanamem were published in the peer-reviewed Journal of Alzheimer’s Disease.
“This new peer-reviewed publication reports that Xanamem 10mg potentially slows AD progression in patients with high plasma pTau181,” ACW chief medical officer Dr Dana Hilt says in an announcement.
Optiscan Imaging (ASX: OIL) soared 124% in June after unveiling its innovative new medical imaging device, InVue, which has been designed to revolutionise precision surgery by granting surgeons immediate access to real-time digital pathology.
OIL in May announced it had entered a collaboration through a know-how agreement with the world-renowned Mayo Clinic to develop an endomicroscopic imaging system for use in robotic surgery.
Here were the 50 worst performing ASX stocks for June:
CODE COMPANY LAST SHARE PRICE MAY RETURN % MARKET CAP ME1 Melodiol Global Health 0.003 -95% $582,276 CLZ Classic Minerals 0.001 -80% $1,511,096 SNX Sierra Nevada Gold 0.035 -71% $3,531,851 1TT Thrive Tribe Tech 0.004 -69% $1,882,486 IMI Infinity Mining 0.015 -67% $1,543,794 NSM Northstaw 0.011 -66% $1,678,509 FTC Fintech Chain Ltd 0.006 -63% $3,904,618 MMM Marley Spoon Se 0.014 -61% $2,119,039 ICU Investor Centre Ltd 0.004 -60% $1,218,045 MSG MCS Services Limited 0.002 -60% $594,299 GRV Greenvale Energy Ltd 0.036 -59% $17,890,427 DY6 DY6 Metals 0.07 -58% $3,175,882 AAU Antilles Gold Ltd 0.003 -57% $3,986,140 SVG Savannah Goldfields 0.013 -57% $4,216,274 NNL Nordic Nickel 0.048 -56% $7,273,495 CTT Cettire 1.17 -55% $421,268,233 CAN Cann Group Ltd 0.028 -55% $12,476,132 EOF Ecofibre Limited 0.03 -55% $12,123,965 AVG Aust Vintage Ltd 0.155 -50% $50,779,648 ADS Adslot Ltd. 0.001 -50% $3,749,672 EEL Enrg Elements Ltd 0.002 -50% $3,029,895 FGL Frugl Group Limited 0.05 -50% $5,759,397 HCT Holista CollTech Ltd 0.005 -50% $1,394,000 IEC Intra Energy Corp 0.0015 -50% $1,690,782 MOM Moab Minerals Ltd 0.003 -50% $2,135,889 PNT Panther Metals 0.024 -50% $2,091,988 PUR Pursuit Minerals 0.002 -50% $10,906,200 QXR Qx Resources Limited 0.006 -50% $7,215,506 WNR Wingara Ag Ltd 0.008 -50% $1,579,883 CCX City Chic Collective 0.125 -48% $30,149,611 ANX Anax Metals Ltd 0.023 -48% $15,900,293 ASO Aston Minerals Ltd 0.009 -47% $11,655,578 EV1 Evolution Energy 0.034 -47% $10,044,632 PLC Premier1 Lithium Ltd 0.016 -47% $2,793,186 JLL Jindalee Lithium Ltd 0.31 -47% $18,751,936 ENL Enlitic Inc 0.14 -46% $10,626,475 AML Aeon Metals Ltd. 0.006 -45% $7,674,804 SM1 Synlait Milk Ltd 0.235 -45% $44,809,241 ZMM Zimi Ltd 0.011 -45% $1,356,829 CZN Corazon Ltd 0.005 -44% $3,005,575 HXG Hexagon Energy 0.01 -44% $5,642,075 CY5 Cygnus Metals Ltd 0.042 -44% $13,201,161 CLU Cluey Ltd 0.037 -43% $6,451,634 AM7 Arcadia Minerals 0.041 -43% $4,330,854 VBS Vectus Biosystems 0.077 -43% $4,097,210 AAJ Aruma Resources Ltd 0.012 -43% $2,362,698 ASR Asra Minerals Ltd 0.004 -43% $8,144,317 ENV Enova Mining Limited 0.012 -43% $10,537,223 FAU First Au Ltd 0.002 -43% $4,154,983 MCL Mighty Craft Ltd 0.004 -43% $1,475,637
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