ASX Market Close: Trump tariffs rattle markets | February 4, 2025

ASX News Market Summary
04 Feb 2025 16:55 (AEDT)

The ASX200 closed down 0.06% at 8,374 points.

The Aussie bourse closed flat on news both Canada and Mexico have cut deals to postpone the imposition of tariffs by the U.S.

IT was the best performing sector, up 1.5%, followed by Materials, up 0.9%.

Real Estate was the biggest loser, down more than 1%, followed by Discretionary and Energy, both down 0.75%, and Industrials, down 0.65%.

In the Green

WA1 Resources (ASX:WA1) closed up 12.6% after successfully producing the first ferroniobium from its West Arunta Project. This demonstrates the feasibility of a conventional ferroniobium process flowsheet.

WA1 Resources closed at $14.63.

Trigg Minerals (ASX:TMG) closed up 2.4% after purchasing land that includes an old antimony mine. The company has applied for an exploration licence on the land.

Trigg Minerals closed at 4 cents.

Kingsgate Consolidated (ASX:KCN) closed up 2.8% on achievement of a significant production milestone with the one hundredth gold pour at the Chatree Gold Mine since its reboot in March 2023.

Kingsgate Consolidated closed at $1.28.

In the Red

New Frontier Minerals (ASX:NFM) closed down 10% after completing a high resolution, helicopter-borne radiometric and magnetic survey in the Northern Territory.

New Frontier Minerals wrapped up at 1.8 cents.

Peak Minerals (ASX:PUA) closed down 26.6% on assay results received from 10 samples and rutile nuggets collected during a site visit to the Minta Rutile Project in late 2024.

Peak Minerals closed at 1.1 cents.

Seek (ASX:SEK) was unchanged on news Xref shareholders rejected Seek’s bid to takeover Xref. The vote fell short — only 67% of votes were cast in favour, below the required 75% threshold.

Seek closed at $23.07.


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