ASX 200 rises strongly on Tuesday, closes up +0.86pc<\/p>\n
\u00a0All 11 sectors in the green, like Kermit on a golf course<\/p>\n
\u00a0Top small cap was Killi Resources with a bumper +83.7pc surge<\/p>\n
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Local markets jumped on Tuesday, erasing all of Monday\u2019s losses on some fairly trading-lite volumes.<\/p>\n
The S&P\/ASX200 closed higher by 66.50 points or 0.86% to 7,829.70.<\/p>\n
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Via ASX<\/p>\n
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The benchmark enjoyed a day of fruitful trade with gains stretching across almost every sector, amid hopes of a dovish statement tonight from the US Fed Chair.<\/p>\n
While the volumes were light, the gains were fairly emphatic as traders here and in the states attend CPI data and any other handy insights from Fed Chair Jerome Powell\u2019s senate testimony for signposts on the future interest rate trajectory.<\/p>\n
That left the headline act on Tuesday in Sydney in the hands of former child star \/ market darling Telstra (ASX:TLS)<\/strong><\/a> , which added more than 3% for a near 6 month high after the telco slugged customers with price lifts from next month.<\/p>\n According to Tony Sycamore at IG markets, Telstra is close to testing its 200-day moving average, now at $3.79.<\/p>\n \u201cTelstra\u2019s rally followed a larger-than-expected increase in mobile phone pricing plans, thought to be around 4 -4.8%, which provides another reminder that hot services inflation is yet to be tamed. Further gains towards $4.00 appear likely as the Telco giant benefits from its pricing power operating within a cosy oligopoly framework.\u201d<\/p>\n It\u2019s TLS biggest single session gain since August 2023.<\/p>\n Also in the money on Tuesday \u2013 the big 4 banks, led by biggest bopper the Commonwealth Bank (ASX:CBA)<\/strong><\/a>, although all 4 majors were more than 1% higher with 30 mins left in the day\u2019s trade.<\/p>\n Macquarie Group (ASX:MQG)<\/strong><\/a> bucked the trend, falling -0.96% to $202.41.<\/p>\n Winners were also in the bag for Consumer stocks, led by Wesfarmers (ASX:WES)<\/strong><\/a> .<\/p>\n The persistence of stubborn inflation, which heightens the risk of an additional RBA rate hike before year-end, has, as expected, weighed on Consumer Sentiment in July.<\/p>\n The biggest news: Toys R Us (ASX:TOY)<\/strong><\/a> survives.<\/p>\n The purveyor of Aussie toys with an American name today secured $2.49mn in funding by way of a Placement to new and existing institutional and sophisticated investor subscribe for approximately 35.57 million fully paid ordinary shares at an issue price of $0.07 per share.<\/p>\n TOY says it has reached an agreement with Mercer Street Global Opportunity Fund II LP (Mercer) to invest up to a further $1.5 million from the existing $4.2 million (facility limit) convertible securities facility, in two tranches. Yay. More toys.<\/p>\n Other random winners to go home with the cash were the metals recycler Sims Metal Management (ASX:SGM)<\/strong><\/a>, Insignia Financial (ASX:IFL)<\/strong><\/a> and Judo Capital Holdings (ASX:JDO)<\/strong><\/a> , up 13.6% and 6.8% respectively.<\/p>\n Domino\u2019s Pizza Enterprises (ASX:DMP)<\/strong><\/a> and Liontown Resources (ASX:LTR)<\/strong><\/a> both up about 3%.<\/p>\n \u00a0<\/p>\n Via MarketIndex<\/em><\/p>\n Over the last five days, the benchmark index has gained 1.44% and is currently 1.02% off of its 52-week high.<\/p>\n Meanwhile, the ASX Small Ordinaries (XSO) index climbed 0.33% while the ASX Emerging Companies (XEC) index ended pretty flat.<\/p>\n \u00a0<\/p>\n\n Via MarketIndex<\/em><\/p>\n \u00a0<\/p>\n On the data front, Westpac\u2019s Consumer Confidence survey fell by 1.1% in July to 82.7 points, remaining within the \u201cdeeply pessimistic\u201d range.<\/p>\n The fall was larger than expected, with cost-of-living concerns more than offsetting the positive impact of the stage 3 tax cuts.<\/p>\n Meanwhile, NAB says Aussie business confidence surged last month just as business conditions continued to fall.<\/p>\n So if that\u2019s the business news then no wonder I\u2019m confused about confidence.<\/p>\n NAB reports that business conditions fell 2 points to 4 index points.<\/p>\n So business conditions are at below average levels and still falling, reflecting the slowing in the economy through late 2023 and early 2024.<\/p>\n \u00a0<\/p>\n After lunch in Hong Kong,<\/p>\n In Delhi, the Sensex clocked new record highs, jumping 240 points or 0.31% in morning trade on Tuesday.<\/p>\n The BSE Sensex tracked the latest Wall Street highs, while at home the RBI jobless read showed Indian employment rate rose to 6% in FY2024, the highest since 1982.<\/p>\n The Nifty 50 also added 0.1% by late aevo in Sydney to above 24,300.<\/p>\n In New York, the S&P 500 closed up 0.1% at a record 5,572.<\/p>\n The Nasdaq also set a new record close finishing the day 0.3% higher at 18,403.<\/p>\n The Dow Jones bucked the broader trend closing lower by 0.1%.<\/p>\n In corporate news Eli Lilly agreed to acquire Morphic for US$3.2bn opening up the lucrative if a little unpleasent multi-billion dollar inflammatory bowel disease (IBD) market.<\/p>\n Elsewhere, Nvidia added 2% pushing its valuation to US$3.15 trillion. Apple rallied 0.7 % to lift its market cap to US$3.49 trillion.<\/p>\n \u00a0<\/p>\n Via Fox<\/em><\/p>\n \u00a0<\/p>\n Here are the best performing ASX small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n Code Company Price % Change Volume Market Cap MOM Moab Minerals Ltd 0.006 100 10,422,820 $2,135,889.18 TKL Traka Resources 0.002 100 498,000 $1,750,658.55 KLI Killiresources 0.079 84 48,469,426 $5,169,620.95 CTN Catalina Resources 0.004 60 1,653,649 $3,096,217.23 LSR Lodestar Minerals 0.0015 50 1,000,000 $2,023,397.35 PVL Powerhouse Ven Ltd 0.052 37 3,467,866 $4,588,240.69 WEC White Energy Company 0.049 36 3,669 $7,163,433.94 HT8 Harris Technology Gl 0.016 33 1,686,950 $3,589,625.77 LYK Lykosmetalslimited 0.03 30 481,364 $4,332,177.86 CMD Cassius Mining Ltd 0.009 29 400,000 $3,794,031.47 SLM Solismineralsltd 0.11 28 1,289,365 $6,618,050.02 AHN Athena Resources 0.0025 25 203,926 $2,140,935.12 ATH Alterity Therap Ltd 0.005 25 125,000 $20,980,461.27 MCL Mighty Craft Ltd 0.005 25 1,377,243 $1,475,637.08 TTI Traffic Technologies 0.005 25 488,361 $3,891,540.75 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Killi Resources (ASX:KLI)<\/strong><\/a>\u00a0was killin\u2019 it on Tuesday morning, sailing high and tight on news of assays from surface rock chip sampling which returned high-grade gold and copper results at the Kaa target, within the 100% owned Mt Rawdon West Project in Queensland.<\/p>\n Killi is reporting one very high-grade sample which came back from the lab at 238g\/t Au, 2.1% Cu & 513g\/t Ag, which the company says it believes is representative of the surface outcrop of a mineralised structure.<\/p>\n Powerhouse Ventures (ASX:PVL)<\/strong><\/a> says it has formed a syndicate of investors to establish and co-sponsor a new natural capital platform in the Australian carbon market.<\/p>\n The company says the terms were structured and arranged by PVL which is leading an experienced consortium including a boutique natural capital investment and advisory firm as well as a globally experienced, Singapore-based commodities trading house. PVL says it\u2019s executed binding documentation for a $500,000 share subscription into the new company, currently called Australian Carbon Credit Investments, with these foundational acquisitions in Australia\u2019s Carbon Project Economy (CPE).<\/p>\n Base and precious metals exploration company\u00a0Lykos Metals (ASX:LYK)<\/strong><\/a>\u00a0was up on news that the National Assembly of Republic of Srpska has voted to adopt an updated Law on Geological Exploration, which opens the door for the company to immediately seek the re-award of the Sockovac license, as well as size expansion from its previous 17km2 to 50km2 area.<\/p>\n And\u00a0Solis Minerals (ASX:SLM)<\/strong><\/a>\u00a0was rising on Tuesday after surface grab samples from the Cinto project came back from the lab sporting assays up to 7.14% Cu with mineralisation mapped over a 200m x 100m area in historical workings associated with significant alteration and structural deformation.<\/p>\n The company has signed an access agreement with local Carumbraya community at the Cinto project and initiated systematic mapping and sampling of outcropping copper mineralisation.<\/p>\n \u00a0<\/p>\n Here are the least performing ASX small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n Code Company Price % Change Volume Market Cap CLZ Classic Min Ltd 0.001 -50 25,178,133 $1,616,730 1TT Thrive Tribe Tech 0.002 -33 65,559,752 $1,411,865 EEL Enrg Elements Ltd 0.002 -33 12,721,775 $3,029,895 LPD Lepidico Ltd 0.002 -33 1,066,413 $25,767,358 PRX Prodigy Gold NL 0.002 -33 20,000 $6,353,323 AAU Antilles Gold Ltd 0.003 -25 71,356 $3,986,140 CUL Cullen Resources 0.006 -25 183,639 $4,561,386 EXL Elixinol Wellness 0.003 -25 3,563 $5,284,729 IBG Ironbark Zinc Ltd 0.003 -25 170,000 $6,770,290 LNR Lanthanein Resources 0.003 -25 5,613,805 $9,774,545 ODE Odessa Minerals Ltd 0.003 -25 425,888 $4,173,130 ENV Enova Mining Limited 0.010 -23 13,517,344 $12,453,082 AL3 Aml3D 0.145 -22 21,997,203 $69,763,321 ALR Altairminerals 0.004 -20 1,050,104 $21,482,888 AMD Arrow Minerals 0.002 -20 24,207,267 $26,348,413 HLX Helix Resources 0.002 -20 1,641,209 $8,160,484 SGC Sacgasco Ltd 0.004 -20 9,899 $4,483,201 VMM Viridismining 0.875 -17 1,700,823 $67,437,675 ASR Asra Minerals Ltd 0.005 -17 10,446,501 $12,216,476 FBM Future Battery 0.032 -16.0 997,050 $25,166,485 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Quickstep Holdings (ASX:QHL)<\/strong><\/a> \u2013 pending a response by the Company in relation to an ASX query regarding recent share price and volume movements.<\/p>\n Agrimin (ASX:AMN)<\/strong><\/a> \u2013 pending a) a response by the Company in relation to an ASX query regarding recent share price and volume movements; and b) the release of an announcement to the market in relation to flotation test work results for the Mackay Potash Project.<\/p>\n Global Lithium Resources (ASX:GL1)<\/strong><\/a> \u2013 pending an announcement to the market regarding Board changes.<\/p>\n DigitalX (ASX:DCC)<\/strong><\/a> \u2013 pending release of an announcement in relation to the Federal Court of Australia\u2019s decision on the Company\u2019s summary judgement application relating to the matter between the Company and former Director, Mr Alex Karis.<\/p>\n Macarthur Minerals (ASX:MIO)<\/strong><\/a> ) \u2013 pending the release of the the release of capital raising announcement.<\/p>\n Perpetual Credit Income Trust (ASX:PCI)<\/strong><\/span> \u2013 pending an announcement in relation to a proposed capital raising to be undertaken by the Trust.<\/p>\n \u00a0<\/p>\n Eagle Mountain\u2019s (ASX:EM2)<\/a><\/span> new seismic data has helped define large, copper porphyry-style targets<\/span><\/a> at its Silver Mountain project in Arizona that appear to align with major porphyry deposits in the state.<\/p>\n Reverse circulation drilling at Future Battery Metals\u2019 (ASX:FBM)<\/span><\/a> Kangaroo Hills lithium asset has extended the thick Big Red pegmatite<\/span><\/a> by a further 200m after returning assays of up to 27m grading 1.04% Li2O from 118m.<\/p>\n Moab Minerals (ASX:MOM)<\/a><\/span> has finalised an 81.85% acquisition of shares in Linx Resources, bringing its total ownership to 89.6%<\/span><\/a> as it looks to capitalise on uranium\u2019s strong market fundamentals.\u00a0Linx owns 80% of the Manyoni and Octavo uranium projects in Tanzania.<\/p>\n Neurotech (ASX:NTI)<\/a><\/span> has filed for orphan drug designation<\/span><\/a> with the US Food and Drug Administration for its oral cannabinoid drug NTI164 in treating PANDAS\/PANS, a rare paediatric disease.<\/p>\n Orthocell (ASX:OCC)<\/a><\/span> has posted record quarterly revenue<\/span><\/a> of $1.84m for the June 2024 quarter \u2013 up 14.4% on the previous quarter \u2013 due to a huge uptick in demand for its regenerative medicines. Its current sales growth trajectory is also expected to smash revenue records with FY2024 projected at $6.72m.<\/p>\n Spartan Resources (ASX:SPR)<\/a><\/span> has unlocked more high-grade gold from its growing Dalgaranga gold project in WA ahead of an imminent resource update after drilling returned high-grade intersections<\/span><\/a> of up to 10.14m at 11.26g\/t gold and 9.07m at 17.81g\/t gold.<\/p>\n Torque Metals (ASX:TOR)<\/a><\/span> will pay Topdrill 50% of drill costs<\/span><\/a> for its upcoming drill campaign at the Paris gold project in shares to a cap of $1m. The drilling is aimed at increasing the amount of shallow, high-quality gold ounces.<\/p>\n Toubani Resources (ASX:TRE)<\/a><\/span> has welcomed the Mali Government\u2019s adoption of the 2023 Mining Code<\/span><\/a>, saying that it is a vital step towards reopening the country\u2019s mining sector by returning it to regulatory stability.<\/p>\n \u00a0<\/p>\n At Stockhead, we tell it like it is. While Eagle Mountain, Future Battery Metals, Moan Minerals, Neurotech, Orthocell, Spartan Resources, Torque Metals and Toubani Resources are Stockhead advertisers, they did not sponsor this article.<\/p>\n \u00a0<\/p>\n The post Closing Bell: The benchmark strikes back as Telstra leads broad based gains<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"ASX200 by the sectors on Tuesday<\/h2>\n
Not the ASX<\/h2>\n
US Futures at 4pm on Tuesday in Sydney<\/h2>\n
ASX SMALL CAP LEADERS<\/h2>\n
ASX SMALL CAP LAGGARDS<\/h2>\n
TRADING HALTS<\/h2>\n
ICYMI \u2013 PM EDITION<\/h2>\n
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