The ASX200 rebounded today and was in the green heading into the close. Investors were buoyant in response to positive inflation data that increased the odds of an interest rate cut in August.
Staples, Real Estate and Discretionary were the strongest performing sectors. Utilities and IT were a drag on the bourse – both in the red approaching close.
In the Green
Mineral Resources (ASX:MIN) traded in the green on delivery of its FY25 guidance across its mining services, iron ore, and lithium divisions. The Onslow Iron joint venture turned cashflow positive, while spodumene concentrate costs at the Wodgina Lithium Project fell to a record low of $641 per dry metric tonne.
Amplia Therapeutics (ASX:ATX) was in the green in intra-day trade after being approved by the Australian Human Research Ethics Committee to kick off its Phase 2 clinical trial.This approval follows United States clearance delivered last month.
Resolute Mining (ASX:RSG) was trading strongly in the green after receiving a broker upgrade from Macquarie. The broker was positive about Resolute’s performance during the second quarter of FY 2025, and noted production was in line with expectations.
In the Red
Champion Iron (ASX:CIA) was in the red by more than 1% leading into the close after releasing its quarterlies. The company reported robust performance across key metrics, with quarterly iron ore production totalling 3.5 million tonnes and record sales of 3.8 million tonnes. Despite the results, investors reacted negatively.
Axel REE (ASX:AXL) traded red all day on release of first-stage metallurgical test results from its Caladão Project in Brazil, confirming the presence and recoverability of ionic rare earth elements and gallium.
Emerald Resources (ASX:EMR) was sharply lower leading up to the close. Investor sentiment was driven by the release of the company’s underwhelming quarterlies.