ASX 200 punches through 8,000 on Monday<\/p>\n
All sectors higher<\/p>\n
Small cap miners led by Aldoro Resources<\/p>\n
Local markets surged into record territory on Monday, pushing through the 8,000 threshold as traders played catch up to Wall Street\u2019s rotation into underperforming growth stocks and blue chips.<\/p>\n
By the close the S&P\/ASX200 had trimmed some of those gains, levelling out ahead by 58.30 points or 0.73% to 8,017.60.<\/p>\n
Via ASX<\/p>\n
Australia\u2019s biggest companies were behind a little afternoon delight on Monday as traders trimmed their easy gains.<\/p>\n
Naturally the Commonwealth Bank (ASX:CBA)<\/strong><\/a> is not done with monstering its way over BHP (ASX:BHP)<\/strong><\/a>, which the bank eclipsed on Friday to become the biggest company by market cap in the country.<\/p>\n But the bourse\u2019s biggest names \u2013 like CBA, CSL (ASX:CSL)<\/strong><\/a> and BHP \u2013 all hit reverse on Monday arvo, having shot ahead in morning trade, driven the ASX to fresh thresholds and then clocking off early.<\/p>\n Still, by the closing bell, all of the big 4 banks plus Macquarie were higher, as were the iron ore triumvirate, Fortescue the strongest with near 2% and Rio Tinto lagging behind with about 0.1% after rising more than 1%.<\/p>\n Still, the rising Aussie benchmark should hit 2025 at 8,250 points, according to friend of the show, Betashares chief economist David Bassanese.<\/p>\n \u201cBeing relatively cheap and unloved, the Australian market could become part of the \u2018great rotation\u2019 if global investors start to seek opportunities outside of US large cap technology stocks such as Nvidia,\u201d David says.<\/p>\n Certainly the ASX200 just stormed the Bastille on Monday. Just 24 hours after the French annually celebrate July 14, 1789, when many frustrated and cheese-hungry Parisiens stormed the Bastille fortress and prison, letting all the crazies out of the asylum and heading off to start the French Revolution which they confused, ultimately, with sitting around chopping each other\u2019s heads off.<\/p>\n And it wasn\u2019t just ASX gains of a broad-based nature to marvel at through Monday \u2013 the sonambulant Aussie dollar pushed past recent six-month highs on Monday \u2013 thanks to the one, two combo of: the RBA\u2019s hawkish stance on interest rates compared to the Fed, robust commodity prices, and signs of stabilisation in China\u2019s economic growth outlook.<\/p>\n The AUD is up around\u00a0 US67.7c and there\u2019s only Thursday\u2019s jobless data or more of the scary stuff out of the US elections and the big week of China news to derail things.<\/p>\n Among equities the growth companies, small caps and rate sensitive stocks led gains.<\/p>\n Among the IT and Telco names Seek (ASX:SEK)<\/strong><\/a> added 3% while WiseTech Global (ASX:WTC)<\/strong><\/a> added another 2%.<\/p>\n On the consumer and healthcare side, Telix Pharmaceuticals (ASX:TLX)<\/strong><\/a>\u00a0 and Bunnings owner Wesfarmers (ASX:WES)<\/strong><\/a> gained more than 2.5% a piece.<\/p>\n On the lithium front, there\u2019s still a long way to go, but Core Lithium (ASX:CXO)<\/strong><\/a> has jumped almost 10% after last week\u2019s positive exploration update and the news it\u2019s exceeded FY 2024 production guidance with production of 95,020 dry metric tonnes\u00a0 of spodumene concentrate.<\/p>\n CXO says that has delivered a cash balance of $87.6mn as of June end.<\/p>\n Two names that didn\u2019t enjoy Monday trade:<\/p>\n Land lease operator Lifestyle Communities (ASX:LIC)<\/strong><\/a> where the shares have crashed 15% following a, let\u2019s say, highly unflattering ABC news documentary.<\/p>\n And Aussie Broadband (ASX:ABB)<\/strong><\/a>, punished for doing great, but not as great as traders were led to believe.<\/p>\n And Piche Resources (ASX: PR2)<\/a> a mineral exploration company intent on uranium and gold in WA and Argentina, hit the trading floor on the ASX today, at 10:00am in faraway Western Australia time.<\/p>\n Listing under the ticker code PR2, the initial public offering (IPO) hauled in a total of $10mn (before costs) at $0.20 a pop, reportedly garnering an \u201cexcellent register of international & Australian funds, and high net worth and retail investors.\u201d<\/p>\n It\u2019s down around 22%.<\/p>\n Looks like persistent local inflation will ensure the local punters continue to keep an eye on any monetary policy prognosticating from the Reserve Bank of Australia (RBA) as expectations Martin Pl. will come on behind its global peers most of whom look set to begin their rate-cutting cycles sooner rather than later.<\/p>\n That\u2019s been good for the Aussie dollar.<\/p>\n The Aussie dollar rallied to 67.7 US cents for the first time since early January. But Morgan Stanley says investors should embrace for a structurally higher Australian dollar for FY25, which will result in meaningful headwinds for overseas earners.<\/p>\n Local IT stocks, exporters, small caps, materials and metals, rate sensitive and pretty much all other unloved ASX names are potential beneficiaries of the rotation out of mega tech in the US.<\/p>\n Actually, the ASX Small Ordinaries (XSO) index and ASX Emerging Companies (XEC) index ended flat after several big sessions.<\/p>\n Over the past five days, the index has gained 2.5% and is currently 0.25% off of its 1 year high.<\/p>\n 11 of the 11 ASX sectors were higher at the close.\u00a0 Messrs Information Technology, Consumer Discretionary, Healthcare and the Telco\u2019s out front.<\/p>\n But in the end Monday was for everyone. A\u00a0nice day to watch markets in various shades of British Racing green.<\/p>\n Via MarketIndex<\/em><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n So. China\u2019s economic growth fell to its worst pace in five quarters, and they weren\u2019t good quarters, either.<\/p>\n This probably won\u2019t generate enough pressure on Beijing to do something stimulatory at this week\u2019s big wig throw down of a twice-a-decade Third Plenum policy on Monday.<\/p>\n The Chinese economy expanded 4.7% yoy in Q2 of 2024, missing market forecasts of 5.1% and slowing from a 5.3% growth in Q1.<\/p>\n It was the weakest yearly advance since Q1 of 2023, amid a persistent property downturn, weak domestic demand, falling yuan, and trade frictions with the West.<\/p>\n In June, retail sales rose the least in nearly 18 months \u2013 not great months neither \u2013 while industrial output growth was at a three-month low, data released by China\u2019s National Bureau of Statistics showed on Monday. That missed the median estimate of 5.1% in Bloomberg\u2019s handy survey of unnamed economists.<\/p>\n Finally, Donald Trump is alive and traders are already looking ahead to Monday\u2019s second-quarter earnings reports \u2013 the trigger, ahem, the catalyst for any extension of these terrifying market\u2019 highs.<\/p>\n Via Fox.<\/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 Name Price % Change Volume Market Cap 1TT Thrive Tribe Tech 0.003 50% 21,741,298 $941,243 APC Aust Potash Ltd 0.002 50% 1,014,500 $4,020,189 AVE Avecho Biotech Ltd 0.003 50% 1,509,724 $6,338,594 ARN Aldoro Resources 0.105 48% 4,911,568 $9,558,286 MDI Middle Island Res 0.024 41% 8,091,654 $3,703,518 DOU Douugh Limited 0.004 33% 59,518 $3,246,207 RFT Rectifier Technolog 0.008 33% 1,924,782 $8,291,904 SFG Seafarms Group Ltd 0.004 33% 1,280,372 $14,509,798 TIG Tigers Realm Coal 0.004 33% 1,708,240 $39,200,107 RWD Reward Minerals Ltd 0.060 33% 45,412 $10,253,391 MXO Motio Ltd 0.022 29% 7,464,578 $4,559,372 AI1 Adisyn Ltd 0.035 25% 3,887,727 $5,183,696 RGL Riversgold 0.008 25% 31,486,232 $7,257,461 SNS Sensen Networks Ltd 0.025 25% 24,250 $15,558,175 EEL Enrg Elements Ltd 0.003 25% 79,570 $2,019,930 HLX Helix Resources 0.003 25% 933,333 $6,528,387 LPD Lepidico Ltd 0.003 25% 717,282 $17,178,239 MCT Metalicity Limited 0.003 25% 15,245,631 $8,971,705 VRC Volt Resources Ltd 0.005 25% 5,844,937 $16,634,713 ICR Intelicare Holdings 0.021 24% 905,887 $4,946,994 3DP Pointerra Limited 0.077 22% 8,886,605 $50,719,838 I88 Infini Resources Ltd 0.900 22% 3,002,549 $28,107,661 GIB Gibb River Diamonds 0.045 22% 45,000 $7,825,849 HCT Holista CollTech Ltd 0.006 20% 36,504 $1,394,000 CY5 Cygnus Metals Ltd 0.051 19% 1,989,865 $12,614,443 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Aldoro Resources (ASX:ARN)<\/strong><\/a>\u00a0reports fresh metallurgical test work has returned open cycle niobium recovery level of 62.4% \u201con a selected Kameelburg sample\u201d.<\/p>\n Those are numbers in line with recovery levels by developing mining explorers and producers in the global niobium space. Good news.<\/p>\n ARN says the processes resulted in an upgrade of the head feed of 0.74% Nb2O5 to 5.5% Nb2O5, \u201ca multiple of 10.6 times with a 62.4% recovery rate of Nb2O5.\u201d The digger says recovery rate and upgrade values are considered encouraging in the initial test phase.<\/p>\n \u201cThe forward process will focus on a finer grind and micro floatation to increase the grade and recovery further.\u201d<\/p>\n Our Cam Drummond says, if this stock wasn\u2019t on your niobium radar<\/a>, its 54% morning bump in stock price this morning \u201ccould make you sit up and take notice.\u201d<\/p>\n The explorer says the results have boosted its confidence ahead of maiden drilling that\u2019s targeting rich niobium dykes across the tenure.<\/p>\n Prep for a diamond drill rig and relevant personnel are advancing, with the initial drill program targeted to commence at the end of Q3, subject to regulatory approvals.<\/p>\n Shares went galactic on the news, up 54.9% to be this morning\u2019s biggest riser and is trading at 11c.<\/p>\n \u00a0<\/p>\n Metalicity (ASX:MCT)<\/a><\/strong>\u00a0is out at the Yundamindra Gold Project, located 65 kms south east of Leonora and 65 kms east of Kookynie where assays from the recent RC drilling programme have been returned with multiple impressive gold intersections and high grades.<\/p>\n Significant intercepts include:\u00a014m@3.13g\/tAu from 28m, and\u00a01m@15.72g\/t Au.<\/p>\n Importantly, MCT says mineralised intercepts correlate with historical drill intercepts, providing validation and encouragement for further drilling and potential resource estimation.<\/p>\n \u00a0<\/p>\n Adisyn (ASX:AI1)<\/strong><\/a>\u00a0says it\u2019s gone in for a binding collaboration agreement with 2D Generaton Ltd \u2013 is a global semiconductor IP business incorporated in Israel with close ties to \u2013 among others \u2013 NVIDIA.<\/p>\n Just say the name and the investors pile in.<\/p>\n Be that as it may, AI1 reports the the partnership aims to \u201cgenerate transformational opportunities in the AI space\u201d.<\/p>\n \u201cLeveraging Adisyn\u2019s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation\u2019s industry-leading \u00a0<\/p>\n The Lithium hunter\u00a0Dynamic Metals (ASX:DYM)<\/strong><\/a>\u00a0farm-out JV of Widgiemooltha with\u00a0Mineral Resources (ASX:MIN)<\/strong><\/a>\u00a0has started to bear fruit after pre-conditions were satisfied and the latter coughed up a $4m payment.<\/p>\n The deal, etched in March, gives MIN a 40% share in the lithium rights of the project (after a further $1m payment next year), which will bump up to 65% as long as it spends $15m on exploration within the next four years.<\/p>\n While DYM has been searching the tenements for nickel prospectivity of late, MinRes is expected to start hitting the ground shortly to further prove up identified lithium targets.<\/p>\n \u00a0<\/p>\n Attura (ASX:ATA)<\/a><\/strong> ATA also says FY24 revenue is expected to exceed $240 million, a 35% increase from the previous year. The company anticipates an underlying EBITDA of $25-$26 million, up 19% on pcp.<\/p>\n There\u2019s been some 40 new federal government contracts, including ones with the Departments of Defence, Home Affairs, and Treasury, which boosted performance.<\/p>\n And finally, the local penny stock Middle Island Resources (ASX:MDI)<\/strong><\/a>\u00a0 announced on Friday a massive leg up from NT government \u2013 circa $300,000 for a drilling collab at its Barkly IOCG project near Tennant Creek.<\/p>\n Three diamond holes are being funded at the Wilma, Pebbles and Dino prospects which are targeted for copper, gold and base metals mineralisation from analysing geophysical data back in April.<\/p>\n \u201cWith these grants, MDI is now set to commence drilling planning for the 2024 season,\u201d MDI CEO Roland Bartsch said.<\/p>\n \u201cMDI is delighted to have again been awarded collaboration grants under the NT Government\u2019s Resourcing the Territory program.<\/p>\n \u201cThis is a competitive program, and to be the only company to have received the maximum grant allowed is an endorsement of the concepts and targets developed by the team\u2019s systematic approach.\u201d<\/p>\n Shares were up over 23% earlier.<\/p>\n \u00a0<\/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 Name Price % Change Volume Market Cap 88E 88 Energy Ltd 0.002 -33% 6,294,098 $86,678,016 PRX Prodigy Gold NL 0.002 -33% 75,000 $6,353,323 TD1 Tali Digital Limited 0.001 -33% 13,767 $4,942,733 WML Woomera Mining Ltd 0.002 -33% 37,650 $3,654,417 CT1 Constellation Tech 0.002 -25% 216,877 $2,949,467 CTN Catalina Resources 0.003 -25% 329,291 $4,953,948 SKN Skin Elements Ltd 0.003 -25% 1,973,336 $2,357,944 MOV Move Logistics Group 0.230 -23% 5,131 $34,915,539 ALM Alma Metals Ltd 0.007 -22% 668,331 $12,985,910 AXE Archer Materials 0.280 -22% 2,710,476 $91,744,925 EWC Energy World Corpor. 0.011 -21% 327,591 $43,104,897 GLN Galan Lithium Ltd 0.155 -21% 7,980,741 $92,419,079 PR2 Piche Resources 0.160 -20% 1,704,372 $16,058,108 AHN Athena Resources 0.002 -20% 259,000 $2,676,169 EFE Eastern Resources 0.004 -20% 100,000 $6,209,732 ME1 Melodiol Glb Health 0.002 -20% 1,286,244 $765,659 NES Nelson Resources. 0.002 -20% 332 $1,533,986 POS Poseidon Nick Ltd 0.004 -20% 1,346,824 $18,567,674 PTL Prestal Holdings Ltd 0.115 -18% 1,000,625 $23,864,330 LIC Lifestyle Communit. 10.415 -17% 2,303,304 $1,530,272,479 CCZ Castillo Copper Ltd 0.005 -17% 648,565 $7,797,032 RML Resolution Minerals 0.003 -17% 1,445,178 $4,830,065 GTG Genetic Technologies 0.053 -16% 988,049 $8,329,686 ABB Aussie Broadband 3.060 -14% 8,426,507 $1,054,999,478 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Arizona Lithium (ASX:AZL)<\/a><\/span> has discovered lithium brines<\/span><\/a> in the deeper Souris River Formation\u00a0at its Prairie project that has never been tested until now. Samples of up to\u00a086 mg\/L lithium indicate that the new formation could add to the existing resource of 6.3Mt lithium carbonate equivalent.<\/p>\n Environmental Clean Technologies (ASX:ECT)<\/a><\/span> has signed a binding heads of agreement<\/span><\/a> with ESG Agriculture that covers the development and offtake of soil health products using its net-zero emissions COLDry technology. The deal sets initial product volume at 30,000tpa.<\/p>\n Far East Gold (ASX:FEG)<\/a><\/span> has acquired the potentially multi-million ounce Idenburg gold project<\/span><\/a> in Indonesia that is known for high-grade lode gold occurrences characteristic of orogenic gold systems. The company has also appointed Nickel Industries boss and founder Justin Werner as its chairman.<\/p>\n HyTerra (ASX:HYT)<\/a><\/span> has received the green light from regulator the Kansas Corporation Commission to drill a second hydrogen well<\/span><\/a> \u2013 Blythe 13-20 \u2013 at its flagship Nemaha project. The well is 1,400m east of the historical Scott-1 well that reported 56% hydrogen.<\/p>\n Riversgold\u2019s (ASX:RGL)<\/a><\/span> rock chip sampling has returned up to 21.78% copper and 101g\/t gold<\/span><\/a> at its Tambourah project in WA\u2019s Pilbara region. Work has also confirmed the anomalous copper trend across a strike length of 12km.<\/p>\n At Stockhead, we tell it like it is. While Arizona Lithium, Environmental Clean Technologies, Far East Gold, HyTerra and Riversgold are Stockhead advertisers, they did not sponsor this article.<\/p>\n \u00a0<\/p>\n Native Mineral Resources (ASX:NMR)<\/strong><\/a><\/p>\n Spenda (ASX:SPX)<\/strong><\/a><\/p>\n NickelX (ASX:NKL)<\/strong><\/a><\/p>\n Alterity Therapeutics (ASX:ATH)<\/strong><\/a><\/p>\n G11 Resources Limited<\/p>\n Terrain Minerals (ASX:TMX)<\/strong><\/a><\/p>\n iTech Minerals (ASX:ITM)<\/strong><\/a><\/p>\n The post Closing Bell: Markets are in revolution and the ASX just stormed its psychological Bastille<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Not the ASX<\/h2>\n
ASX SMALL CAP LEADERS<\/h2>\n
\ncapabilities in developing next-generation AI semiconductor solutions.<\/p>\n
\nIT firms Atturra is rising as well after agreement to acquire Exent Holdings for $6mn in upfront consideration with earn-out\/post-completion consideration of up to $2mn cash. ATA says it\u2019s a strategically aligned acquisition which helps to extend ATA\u2019s advisory and consulting network.<\/p>\nASX SMALL CAP LAGGARDS<\/h2>\n
<\/h2>\n
ICYMI \u2013 PM EDITION<\/h2>\n
TRADING HALTS<\/h2>\n