Good Afternoon and welcome to HotCopper’s Market Close for Thursday, ending out this short ANZAC break week, I’m Jon Davidson.
The ASX200 closed back to where it was before the April 2 tariffs kicked in, down from February all time highs but not far off the glorious 8,000 points mark. But with upcoming US tariffs on copper, pharmaceuticals, and microchips all announced this month, it’s not a time to abandon caution.
Health Care led the gainers today up 1.2% while Energy led laggards down point 7 per cent on lower crude prices, even as uranium stocks continued to churn upward.
Looking at companies having a win,
In energy, Deep Yellow broke over $1.00 a share as uranium stocks enjoyed a second day of gains on strong sentiment, despite a dip in uranium prices on the NYMEX. Earlier this week Deep Yellow said uranium was too cheap to mine economically, which caused a stir, but two days later that’s been forgotten. Stocks ended up just over 10%.
In financials, formerly embattled wealth giant AMP Group ended in the green on Thursday up around 3.2% as Wall Street brokers in Australia warmed to the stock following its latest earnings. Shares ended at $1.21 a pop.
Finally, Health Care giant Resmed ended green with its news it has received confirmation from the US its products from Australia and Singapore won’t be subjected to tariffs because they fit in with a trade agreement that protects products for the disabled. Investors are now left to wonder how good the White House’s word is in 2025. Shares ended up 8.6% at $36.11 cents each.
And as for the reds?
Generation Development Group fell over -15% to four dollars and eleven cents per share as investors digested its latest quarterly. Despite talking of strong performance and adopting a general nothing-to-see-here type tone, the market wasn’t convinced – or perhaps it just expected something more.
In materials, EV Resources took a small dip down to a fourth of a cent on Thursday according to CBOE live pricing data, despite the fact the company remains well exposed to Mexican antimony acreage – which is especially prudent given that Mexico’s only major smelter for that current darling commodity has now gone back online.
And finally, back to energy, while its shares were suspended today, Peninsula Energy would have likely been in the red had it published its downgraded uranium production guidance on time. But that was due yesterday, and this is now. The ASX has thus forcibly suspended the stock as investors wait to see how bad the damage will be. Shares were unchanged at 62cps.
That’s Market Close for the last day of this short week, I’m Jon Davidson, have a great ANZAC break and we’ll see you on Monday.