Welcome to HotCopper’s Market Close for Monday 14 July, I’m Jon Davidson. A new week, another day trading flat in the eight thousand five hundreds.
We got strong export data from China today, that economy the most important indicator for Australia’s, but with companies racing to beat tariffs, it mightn’t be a true reflection of vitality. We also get US CPI tomorrow night Australia time.
Looking at sectors, materials the saviour today as iron ore stayed above $99 a tonne. Industrials and discretionary led the laggards heading into close.
Let’s turn to companies in the green.
Once again, Electro Optic joined Droneshield as the top gainers heading into close, with the latter unveiling a $13M expansion, leaving some HotCopper users wondering what the future looks like.
Elsewhere, CBOE live data showed Lithium Universe stocks up slightly green in the last half hour as the lithium explorer pivots into recycling solar panels for silver. For those at home, silver’s the most conductive metal there is, and it’s in solar panels.
Finally, heavily traded rare earths minnow Ionic Rare Earths green in the final half hour as momentum still propels rare earth speccies following the US government last week buying a stake in an American rare earths microcap.
That was the good news, now let’s run through the reds.
BHP spin-out South 32 firmly down in the final half hour after revealing its Mozambique aluminum operations are at risk, the company’s been unable to agree on an electricity supply deal with South Africa’s Eskom for next year.
Elsewhere, former fintech darling Block fell in tandem with its shares on the New York Stock Exchange. As far as anyone can tell, and this is pretty much hearsay, but it appears some insiders may have sold shares on the sneaky.
Finally, a similar story for pokie machine and casino app maker Lights and Wonder which also fell on the NASDAQ in the American Friday session, that heavily buy-rated stock sinking comfortably into the red approaching Monday close.
That’s HotCopper’s Market Close, I’m Jon Davidson, have a great night and we’ll see you tomorrow.