Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading. Here’s what’s happened so far.
The ASX has opened lower this morning despite a chipmaker rally in the US overnight, as local investors hold their breath waiting for GDP figures to come bouncing out of China later today.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| ERA | Energy Resources | 0.008 | 249.8 | 3,020,204 | $50,657,590 |
| ATVR | Activeport Group | 0.002 | 100.0 | 3,479,785 | $265,081 |
| IRX | InhalerX | 0.04 | 81.8 | 1,183,151 | $4,250,659 |
| OVT | Ovanti | 0.021 | 50.0 | 59,143,425 | $21,788,877 |
| SLM | Solis Minerals | 0.13 | 34.0 | 102,129 | $7,506,083 |
| CMX | Chemx Materials | 0.048 | 26.3 | 60,000 | $4,902,848 |
| BMG | BMG Resources | 0.01 | 25.0 | 3,575,700 | $5,470,377 |
| BYH | Bryah Resources | 0.005 | 25.0 | 100,000 | $2,013,147 |
| IVX | Invion | 0.0025 | 25.0 | 134,798 | $13,533,183 |
| ADO | Anteotech | 0.032 | 23.1 | 30,735,486 | $64,734,020 |
Energy Resources of Australia (ASX:ERA) opened way higher this morning following yesterday’s resumption of the company’s Rio Tinto-led 19.87 for 1 non-underwritten pro rata renounceable entitlement offer, seeking to raise about $90 million.
InhaleRX (ASX:IRX) has has entered into a significant funding agreement with Clendon Biotech Capital, securing up to $38.5 million in funding to cover all direct costs associated with the Phase 1 & 2 clinical development of the Company’s key projects, IRX-211 and IRX-616a. IRX-211 is a drug-device medication, specifically designed to target breakthrough cancer pain, while IRX-616a is an innovative drug device medication designed to offer fast and effective relief for individuals suffering from panic disorder.
AnteoTech (ASX:ADO) was up after it announced a few days ago that it had secured a deal for the first commercial order of its Ultranode product from “leading European EV manufacturer EV1”. This morning’s announcement, in response to a query from the ASX, is that EV1 is in fact the AMG arm of German automaker Mercedes Benz.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| PER | Percheron | 0.087 | -35.6 | 11,399,672 | $121,708,571 |
| CDE | Codeifai | 0.001 | -33.3 | 1,020,000 | $3,961,942 |
| 88E | 88 Energy | 0.002 | -20.0 | 10,000,005 | $72,334,530 |
| CTO | Citigold Corp | 0.004 | -20.0 | 575,816 | $15,000,000 |
| EFE | Eastern Resources | 0.004 | -20.0 | 75,000 | $6,209,732 |
| PUA | Peak Minerals | 0.002 | -20.0 | 1,740 | $6,242,776 |
| ERG | Eneco Refresh | 0.01 | -16.7 | 1,424 | $3,268,300 |
| QXR | Qx Resources | 0.005 | -16.7 | 50,000 | $6,660,467 |
| CVV | Caravel Minerals | 0.155 | -16.2 | 425,634 | $96,991,763 |
| FLT | Flight Centre Travel | 18.25 | -15.6 | 1,548,679 | $4,796,888,033 |
Flight Centre (ASX:FLT) was sinking badly this morning, after releasing a business update that was a little skimpy on some details, but looks like it lays out a pretty severe downturn for the business over the first 6 months of this financial year. Flight Centre said 1QFY25 was trading “marginally above” the previous corresponding period on TTV, profit margin and underlying profit, and tried to gloss things over, saying its FY25 profit was “again expected to be heavily second-half weighed.”
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
