The ASX 200 traded sideways on Tuesday, closing the day flattish as gains in healthcare stocks were offset by losses in other sectors.
Source: Market Index
Healthcare gained after the Albanese government approved an increase in private heath insurance premiums of 3.03%, effective April 1. This will impact around 15 million Aussies who are paying for private health insurance.
Stocks in the nation’s largest private health funds, Medibank Private (ASX:MPL) and NIB Holdings (ASX:NHF) jumped by 3% each.
Gold stocks also outperformed today as the shiny metal continues to edge toward all time highs, amid expectations that rate cuts in the US would come sooner than expected.
Iron ore heavyweights BHP (AX:BHP) and Fortescue (ASX:FMG)as iron ore prices climbed by 2% overnight.
Meanwhile, Australia’s current account has returned to surplus. Data released by the ABS today showed that the ccurrent account balance increased by $10.5 billion to a surplus of $11.8 billion (seasonally adjusted, current prices) in the December quarter.
The market’s focus now turn towards the GDP figures, which will be released tomorrow.
Meanwhile, Bitcoin continues to rise and is trading at US$68,300 at this time of writing.
“As we approach the halving every four years, there’s a run-up. But you also have these ETFs which have recently been approved and a lot of inflows coming from that,” said Ian Rodgers of Ledger.
China sets 5pc GDP target
In China, the government has today set an ambitious 5% growth target despite a challenging economy hampered by a property slump.
Premier Li Qiang acknowledged it’s now going to be easy to realise those targets, and that “joint efforts from all fronts” are needed.
The announcement came as investors called for stronger action from the world’s second-largest economy to shore up the economy.
Ex-dividend stocks today include:
Coles Group (ASX:COL) is paying 36 cents fully franked
Endeavour Group (ASX:EDV) is paying 14.3 cents fully franked
Embark Education Group (ASX:EVO) is paying 1.5 cents fully franked
Heartland Group (ASX:HGH) is paying 3.764 cents unfranked
Iluka Resources (ASX:ILU) is paying 4 cents fully franked
Kina Securities (ASX:KSL) is paying 5.1 cents unfranked
Lynch Group (ASX:LGL) is paying 4 cents fully franked
Lovisa Holdings (ASX:LOV) is paying 50 cents 30 per cent franked
Orora (ASX:ORA) is paying 5 cents unfranked
Origin Energy (ASX:ORG) is paying 27.5 cents fully franked
Pengana Capital Group (ASX:PCG) is paying 1 cent fully franked
Qualitas (ASX:QAL) is paying 1.1285 cents unfranked
Qube Logistics (ASX:QUB) is paying 4 cents fully franked
Sequoia Financial Group (ASX:SEQ) is paying 2 cents fully franked
SG Fleet (ASX:SGF) is paying 9.6 cents fully franked
Veem (ASX:VEE) is paying 0.77 cents unfranked
Worley (ASX:WOR) is paying 25 cents unfranked
WOTSO Property (ASX:WOT) is paying 1 cent unfranked
ASX SMALL CAP LEADERS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap JAV Javelin Minerals Ltd 0.20 100.00 256,000 $2,176,231 PRX Prodigy Gold NL 0.50 66.67 2,100,077 $5,253,323 AUQ Alara Resources Ltd 5.10 37.84 6,519,005 $26,569,239 PGC Paragon Care Limited 28.00 36.59 6,670,545 $136,912,977 AUH Austchina Holdings 0.40 33.33 9,634,087 $6,233,651 AUK Aumake Limited 0.40 33.33 1,785,300 $5,743,220 TRE Toubani Res Ltd 14.00 33.33 118,995 $14,055,895 DYM Dynamicmetalslimited 21.00 31.25 8,417,482 $5,760,000 FIN FIN Resources Ltd 1.90 26.67 720,944 $9,739,031 ARD Argent Minerals 1.20 26.32 3,519,273 $12,271,711 VBS Vectus Biosystems 25.00 25.00 10,000 $10,641,872 AL8 Alderan Resource Ltd 0.50 25.00 6,340,936 $4,427,445 EDE Eden Inv Ltd 0.25 25.00 1,000,000 $7,356,542 PUA Peak Minerals Ltd 0.25 25.00 200,448 $2,082,753 AI1 Adisyn Ltd 2.60 23.81 669,517 $3,703,341 WWI West Wits Mining Ltd 1.60 23.08 10,582,329 $31,595,091 CYL Catalyst Metals 60.50 21.00 766,915 $110,078,772 NHE Nobleheliumlimited 10.50 20.69 2,632,009 $31,848,243 FTC Fintech Chain Ltd 2.40 20.00 80,734 $13,015,392 GCM Green Critical Min 0.60 20.00 526,170 $5,682,925 AAR Astral Resources NL 6.10 19.61 601,898 $40,447,974 HTA Hutchison 3.10 19.23 28,554 $352,885,223 AWJ Auric Mining 16.50 17.86 3,454,323 $18,320,343 AVE Avecho Biotech Ltd 0.35 16.67 17,125 $9,507,891 TAR Taruga Minerals 0.70 16.67 449,969 $4,236,161
Alara Resources (ASX:AUQ) has completed the commissioning and the commencement of concentrate production at its Wash-hi – Majaza Mine and copper concentrate plant in Oman.
AUQ says production will ramp up to full capacity over the next two to three months.
The sale of the first shipment – approximately 1000 dry metric tons of copper concentrate – to Trafigura is expected in April 2024.
Dynamic Metals (ASX:DYM) has entered a lucrative farm-in and joint venture agreement with Mineral Resources (ASX:MIN) over the lithium rights to its Widgiemooltha project in the WA Goldfields. The Chris Ellison-company is eligible to earn up to 80% of the tenements via a total exploration spend of $30 million, through to a decision to mine.
Fin Resources (ASX:FIN) has been buoyed by a review of work carried out historically on its Ross project in Quebec which identified highly anomalous uranium in soil sampling, including up to 1,486ppm U3O8 associated with low thorium.
Noble Helium (ASX:NHE) says its plans to monetise the helium potential of its North Rukwa project in Tanzania have received a major boost after further detailed analysis and integration of well data indicates the probable free gas cap at Mbelele to be six times larger than originally mapped.
Telix Pharma (ASX:TLX) rose 2% after proposing to acquire Canada-based diagnostic imaging isotope specialist ARTMS for $US42.5M worth of TLX shares upfront, and a further $US15m in earnouts.
And Nova Eye Medical (ASX:EYE) has reported a record sales month for February with US$0.99 million (A$1.52 million) in the bank following improved uptake of its iTrack Advance glaucoma surgical devices.
ASX SMALL CAP LAGGARDS
Today’s best performing small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
Code Name Price % Change Volume Market Cap MSG Mcs Services Limited 0.40 -55.56 3,730,162 $1,782,897 1MC Morella Corporation 0.30 -25.00 723,890 $24,715,198 AHN Athena Resources 0.30 -25.00 1,703,597 $4,281,870 IS3 I Synergy Group Ltd 0.60 -25.00 1,132,723 $2,432,643 MRQ Mrg Metals Limited 0.15 -25.00 89,550 $4,942,682 OPN Oppenneg 0.60 -25.00 1,246,633 $9,033,437 SUH Southern Hem Min 3.60 -23.40 150,000 $27,754,711 STM Sunstone Metals Ltd 1.00 -23.08 18,274,208 $45,508,470 X2M X2M Connect Limited 4.10 -21.15 259,018 $13,120,219 JPR Jupiter Energy 1.90 -20.83 90,830 $30,567,653 AN1 Anagenics Limited 1.20 -20.00 699,129 $6,286,993 CTO Citigold Corp Ltd 0.40 -20.00 3,962,224 $15,000,000 LRL Labyrinth Resources 0.40 -20.00 178,526 $5,937,719 NAE New Age Exploration 0.40 -20.00 135,856 $8,969,495 ROG Red Sky Energy. 0.40 -20.00 530,375 $27,111,136 SI6 SI6 Metals Limited 0.40 -20.00 7,414,996 $9,969,297 TMK TMK Energy Limited 0.40 -20.00 31,664 $30,612,897 ODY Odyssey Gold Ltd 1.70 -19.05 1,854,384 $18,876,294 NMR Native Mineral Res 2.20 -18.52 323,879 $5,663,264 CBY Canterbury Resources 2.70 -18.18 147,902 $5,667,450 HAL Halo Technologies 11.50 -17.86 23,150 $18,129,330 ABE Ausbondexchange 1.50 -16.67 234,641 $2,028,026 AQI Alicanto Min Ltd 3.00 -16.67 1,284,260 $22,152,125 HT8 Harris Technology Gl 1.00 -16.67 876,234 $3,589,626 JTL Jayex Technology Ltd 0.50 -16.67 1,489,300 $1,687,671
QEM (ASX:QEM) has announced a slight update to the resource uneveiled yesterday for its Julia Creek project in North Queensland, now including a maiden 1C oil shale resource of 6.3 million barrels (MMbbls). This is on top of the 28% increase to the indicated vanadium resource to 461Mt (2,406Mt remains in the inferred category) and 32% uplift in the 2C oil shale estimate to 94 MMbbls. Utilising a 90% recovery factor, a 3C oil shale resource of 654 MMbbls.
In Case You Missed It – PM Edition
PEY Capital has entered an arrangement with Magnis Energy Technologies (ASX:MNS) to source the complete US$320 million in funding needed for full development of the Nachu graphite project in Tanzania.
Magnetic Resources (ASX:MAU) has increased the contained gold at its flagship Lady Julie 4 North deposit by 11% to 948,200oz, lifting the overall precious metal inventory across its Laverton and Homeward Bound South projects to 24.9Mt @ 1.66g/t gold, or 1.33Moz of contained gold.
Mako Gold (ASX:MKG) is sending its top brass to the company’s Napié project in Côte d’Ivoire to evaluate two parallel artisanal mining sites named ‘Double Zone’ where rock chip samples returned up to 22.46g/t gold.
Ongoing work by Strickland Metals (ASX:STK) has demonstrated the Bronco and Konik prospects in its Horse Well project area are actually part of the same structure and could represent a large bulk tonnage target.
Charger Metals (ASX:CHR) has intersected further high-grade stacked spodumene-bearing pegmatites, including lithium grades of up to 3.21%, from deeper drilling into the Medcalf prospect within its Lake Johnston project.
Pantera Minerals (ASX:PFE) now has another 3,553 acres (14.37km2) under its wing within the Smackover brine play in Arkansas, boosting its total footprint at the Superbird project to +17,000 acres.
Future Battery Minerals (ASX:FBM) will soon begin the 3,000m Phase 4 RC drill program over the northern targets of its Kangaroo Hills lithium project in South Australia, including the Big Red prospect.
Strategic Energy Resources (ASX:SER) has already started an infill magnetotelluric survey at the Mundi IOCG project in New South Wales with plans to refine the location of the intense conductive anomaly identified at depths of up to 2,500m.
TRADING HALTS
Austchina Holdings (ASX:AUH) – pending announcement release
Prominence Energy (ASX:PRM) – requested extension of voluntary suspension pending a release on project investment component
At Stockhead, we tell it like it is. While Charger Metals, Dynamic Metals, Fin Resources, Future Battery Minerals, Magnetic Resources, Magnis Energy Technologies, Mako Gold, Nova Eye Medical, Pantera Minerals, Strategic Energy Resources and Strickland Minerals are Stockhead advertisers, they did not sponsor this article.
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