Traders dumped local stocks following Iran\u2019s drone strikes on Israel on Saturday night, a move that has heightened concerns about the potential impact of a broader conflict in the Middle East.<\/p>\n
At the close of day, the benchmark ASX200 index was down -0.5%, weighed down mostly by Tech and Discretionary stocks. The ASX\u2019s losses today extended the 1.6% drop last week.<\/p>\n
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Source: MarketIndex<\/strong><\/em><\/p>\n A looming geopolitical tension is on the horizon after Iran launched over 300 drones and missiles on Israel, marking the first time Iran had launched a direct attack on Israel from Iranian territory.<\/p>\n \u201cIf Iran enters the war in Gaza, it will significantly disrupt the oil supply chain,\u201d Rania Gule at XS.com<\/a>. \u201cAs the third-largest oil producer in OPEC, its direct involvement in the war will lead to significant movements in the oil market and have a positive impact on oil prices.\u201d<\/p>\n In a broader context, however, the Middle East tensions are not the only factor affecting the global economy. Fitch\u2019s downgrade of China\u2019s credit rating outlook adds another concern for global markets.<\/p>\n \u201cThe combination of geopolitical tensions in the Middle East and concerns about China\u2019s economic health underscores the inherent fragility of the current economic environment,\u201d said Ernesto Di Giacomo, also at XS.com.<\/p>\n The Aussie dollar was trading much lower at US64.85c today, down from the high US65c handle last week.<\/p>\n To stocks, losses in the tech sector today include big names like Xero (ASX:XRO)<\/a><\/strong>, which was down -1.45% and NextDC (ASX:NXT)<\/a><\/strong>, which tumbled -5% after coming out of a trading halt and announcing a huge $1 billion cap raise.\u00a0<\/span><\/p>\n Oil stocks meanwhile edged higher as war tensions pushed up crude prices.<\/p>\n \u00a0<\/p>\n Shares in Asia slipped to a six-week low as traders hold their breath on what could happen next in the Middle East.<\/p>\n The Shanghai Futures Exchange<\/strong> has now become the only major bourse to accept Russian metal after the US and UK slapped sanctions on those metals over the weekend.\u00a0<\/span><\/p>\n The London Metal Exchange has banned newly produced Russian aluminium, copper and nickel \u2013 which is expected to increase China\u2019s imports from Russia.<\/p>\n Meanwhile, Bitcoin<\/strong> rallied after sinking almost 9% in the wake of the Iranian attacks. At the time of writing, BTC is trading at US$64,930.\u00a0<\/span><\/p>\n \u00a0<\/p>\n Code Name Last % Change Volume Market Cap AWC Alumina Limited 1.60 7% 13,419,274 $4,352,522,126 S32 South32 Limited 3.46 5% 26,749,627 $14,901,260,689 NIC Nickel Industries 0.90 5% 6,058,517 $3,685,796,497 MAD Mader Group Limited 6.45 4% 499,281 $1,240,000,000 RIO Rio Tinto Limited 132.66 4% 1,101,997 $47,478,553,771 ZIM Zimplats Holding Ltd 18.12 3% 1,528 $1,899,804,505 ELD Elders Limited 8.50 2% 383,093 $1,307,744,933 CTT Cettire 3.19 2% 3,119,102 $1,189,463,246 ABG Abacus Group 1.16 2% 452,338 $1,018,769,702 PWH Pwr Holdings Limited 11.25 2% 96,928 $1,111,354,489 FBU Fletcher Building 3.62 2% 647,903 $2,787,635,202 IGO IGO Limited 7.63 2% 2,952,072 $5,679,508,598 DRR Deterra 4.81 2% 374,453 $2,500,512,263 EDV Endeavour 5.32 2% 2,027,638 $9,384,735,289 HLI Helia Group Limited 3.89 1% 819,293 $1,129,032,448 YAL Yancoal Aust Ltd 5.75 1% 1,084,852 $7,500,096,002 AIA Auckland Internation 7.41 1% 242,872 $10,813,829,039 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Today\u2019s best performing 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 MRQ MRG Metals 0.002 100% 1,500,000 $2,525,119 NRZ Neurizer Ltd 0.005 67% 32,476,191 $4,504,232 FXG Felix Gold Limited 0.073 55% 1,212,824 $9,739,110 ERL Empire Resources 0.003 50% 830,000 $2,225,870 PLL Piedmont Lithium Inc 0.295 44% 15,883,086 $78,685,663 LU7 Lithium Universe Ltd 0.029 38% 8,329,200 $8,158,960 NVU Nanoveu Limited 0.023 35% 867,443 $7,576,825 MKL Mighty Kingdom Ltd 0.004 33% 12,030,897 $1,983,800 TD1 Tali Digital Limited 0.002 33% 510,000 $4,942,733 FTZ Fertoz Ltd 0.034 31% 149,832 $6,506,471 CVR Cavalierresources 0.215 30% 411,634 $5,251,771 BNZ Benzmining 0.190 27% 232,750 $16,691,696 ME1 Melodiol Glb Health 0.005 25% 1,684,535 $2,152,772 MTB Mount Burgess Mining 0.003 25% 763,864 $2,089,627 TX3 Trinex Minerals Ltd 0.005 25% 144,603 $6,979,637 CY5 Cygnus Metals Ltd 0.090 23% 3,077,209 $21,283,817 BDT Birddog 0.087 23% 357,779 $13,705,917 MGA Metalsgrovemining 0.049 23% 193,057 $1,488,020 MAG Magmatic Resrce Ltd 0.113 22% 764,845 $35,110,783 VKA Viking Mines Ltd 0.011 22% 1,322,852 $9,227,326 LYN Lycaonresources 0.205 21% 107,138 $7,489,563 ZER Zeta Resources Ltd 0.240 20% 55 $106,080,139 ENT Enterprise Metals 0.003 20% 2,500,099 $2,004,927 OAU Ora Gold Limited 0.006 20% 1,214,544 $29,030,004 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n US lithium stock Piedmont (ASX:PLL)<\/a> received an all-important mining approval for the Carolina Lithium project in North Carolina.<\/p>\n \u201cWe plan to develop Carolina Lithium as one of the lowest cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain,\u201d PLL boss Keith Phillips says. \u201cThe project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina\u2019s growing electrification economy.\u201d<\/p>\n Adherium\u2019s (ASX:ADR)<\/a> Hailie \u2018smart inhaler\u2019 has received clearance from the U.S. Food and Drug Administration (FDA) for use with AstraZeneca\u2019s Airsupra and Breztri inhalation devices.<\/p>\n Explorer NewPeak (ASX:NPM)<\/a> will buy an early stage Canadian uranium, rare earths and scandium project for $500,000 in shares.<\/p>\n \u00a0<\/span>OzAurum Resources (ASX:OZM)<\/a> says drilling has started the Boca Rica lithium project in Brazil.<\/p>\n Neurizer (ASX:NRZ)\u2019s<\/a><\/strong> shares are back on quotation today after they were suspended by the ASX on 18 March.\u00a0NeuRizer had been requested by the ASX to clarify a statement from their Half Year Report regarding ongoing discussions on two strategic transactions expected to generate revenue and positive cash flows.The company has now responded, saying that while discussions with Meijin Energy Investments (MEI)\u00a0 <\/span>and Samsung C&T Corporation have progressed, there is no certainty regarding the outcome of these negotiations. With MEI, NRZ has been working on joint ventures and licensing agreements for hydrogen production. Discussions with Samsung meanwhile focus on a sales and marketing agreement for urea in Australia.<\/p>\n Lithium Universe (ASX:LU7<\/a><\/strong>) said that the Share Purchase Plan (SPP) announced on 13 March has been closed on 10 April 2024. Applications for 23,175,000 fully paid shares to raise a total of $463,500 (before costs) were received and processed.<\/p>\n Talga Group (ASX:TLG)<\/a><\/strong>\u00a0 <\/span>announced the completion of the front-end engineering and design (FEED) for its integrated Vittangi Anode Project located in northern Sweden. The anode production process has been configured and qualified to customer requirements, facilitating battery maker and automotive OEM offtake negotiations. Strategic agreements with project partners ABB and Rejlers are in place, and preparation for engineering and PCM tenders, along with procurement, is well advanced.<\/p>\n \u00a0<\/p>\n Today\u2019s best performing 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 AXP AXP Energy Ltd 0.0010 -50% 102,041 $11,649,361 RMX Red Mount Min Ltd 0.0010 -33% 14,277 $4,010,364 TIG Tigers Realm Coal 0.0040 -27% 99,996 $71,866,863 CHK Cohiba Min Ltd 0.0030 -25% 8,842 $14,352,977 CNJ Conico Ltd 0.0015 -25% 805,246 $3,610,190 HCD Hydrocarbon Dynamic 0.0030 -25% 286 $3,234,329 PPY Papyrus Australia 0.0100 -23% 138,830 $6,405,004 JPR Jupiter Energy 0.0200 -20% 7,000 $31,841,305 1AG Alterra Limited 0.0040 -20% 720,000 $4,353,453 BLZ Blaze Minerals Ltd 0.0040 -20% 4,597,499 $3,142,791 BXN Bioxyne Ltd 0.0080 -20% 1,609,522 $19,016,454 CMB Cambium Bio Limited 0.0080 -20% 2,433,855 $7,660,923 KPO Kalina Power Limited 0.0040 -20% 130,889 $11,050,640 PEC Perpetual Res Ltd 0.0090 -18% 326,387 $7,040,324 RFX Redflow Limited 0.1250 -17% 2,376,282 $35,567,997 CAV Carnavale Resources 0.0050 -17% 2,000,000 $20,541,310 ESR Estrella Res Ltd 0.0050 -17% 340,884 $10,556,231 RML Resolution Minerals 0.0025 -17% 979,186 $4,829,990 RR1 Reach Resources Ltd 0.0025 -17% 656 $9,836,169 SER Strategic Energy 0.0100 -17% 248,760 $5,829,782 SIT Site Group Int Ltd 0.0025 -17% 9,000 $7,807,471 TAS Tasman Resources Ltd 0.0050 -17% 200,800 $4,276,016 TMR Tempus Resources Ltd 0.0050 -17% 10,000 $4,385,992 SLM Solismineralsltd 0.1100 -15% 380,747 $10,084,522 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Anson Resources (ASX:ASN)<\/a> has hit a major new milestone after its Green River sample demonstration plant (SDP) in Utah started producing lithium carbonate using brine sourced from its Paradox lithium project.<\/p>\n Environmental Clean Technologies (ASX:ECT)<\/a> has received a patent grant in India for its HydroMOR process, which uses lignite mixed with lower grade and waste iron sources to produce steel with ~30% lower emissions compared to traditional blast furnaces.<\/p>\n Hot Chili (ASX:HCH)<\/a> is expanding its horizons beyond traditional mining ventures by leveraging its licences to provide desalinated water<\/a> to the Huasco Valley to address\u00a0 water scarcity in the region for new mining projects.<\/p>\n Tesoro Gold (ASX:TSO)<\/a> has defined the compelling La Brea gold target<\/a> after surface sampling at its El Zorro gold project in Chile has returned further high-grade gold of up to 22.7g\/t.<\/p>\n \u00a0<\/p>\n TinyBeans (ASX:TNY)<\/strong><\/a> \u2013 Outcome of the institutional component of its accelerated entitlement offer.<\/p>\n Galan Lithium (ASX:GLN)<\/strong><\/a> \u2013 Pending announcement release<\/p>\n Resource Mining Corporation (ASX:RMI)<\/strong><\/a> \u2013 Cap raise<\/p>\n Australian Strategic Materials (ASX:ASM)<\/strong><\/a> \u2013 Cap raise<\/p>\n Neurotech (ASX:NTI)<\/strong><\/a>\u2013 Results of the company\u2019s Phase II\/III clinical trial in paediatric patients with Autism Spectrum Disorder.<\/p>\n Empire Energy (ASX:EEG)<\/strong><\/a> \u2013 Cap raise<\/p>\n Westar Resources (ASX:WSR)<\/strong><\/a> \u2013 Material cap raise<\/p>\n Norfolk Metals (ASX:NFL)<\/strong><\/a><\/span>\u2013 Execution of an exclusivity deed for an acquisition opportunity, as well as a cap raise<\/p>\n Burley Minerals (ASX:BUR)<\/strong><\/a> \u2013 Cap raise<\/p>\n AKORA Resources (ASX:AKO)<\/strong><\/a> \u2013 Cap raise<\/p>\n \u00a0<\/p>\n At Stockhead, we tell it like it is. While are Anson Resources, Environmental Clean Technologies, Hot Chili and Tesoro Gold are Stockhead advertisers, they did not sponsor this article.<\/p>\n <\/span><\/p>\n The post Closing Bell: Geopolitical tensions, China\u2019s economy roil the ASX as Aussie dollar trades below US65c<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Russian aluminium, copper and nickel banned<\/h2>\n
ASX LARGE CAP WINNERS TODAY:<\/h2>\n
ASX SMALL CAP LEADERS<\/h2>\n
ASX SMALL CAP LAGGARDS<\/h2>\n
IN CASE YOU MISSED IT<\/h2>\n
TRADING HALTS<\/h2>\n