ASX uranium stocks return to the spotlight due to a combination of accelerating demand from data centres, decarbonisation goals, and a long-term structural supply deficit.
To read more, click here!
Market highlights
ASX 200 futures are pointing down 14 points or 0.2 per cent to 8880.
All US prices near 3.20pm New York time.
- AUD -0.4% to US69.95¢
- Bitcoin -2.7% to $US73,546
- On Wall St: Dow +0.7% S&P -0.3% Nasdaq -1.3%
- VIX +0.66 to 18.66
- Gold -0.3% to $US4930.20 an ounce
- Brent oil +1.9% to $US68.60 a barrel
- Iron ore +0.2% to $US102.15 a tonne
- 10-year yield: US 4.27% Australia 4.86%
Across Markets…
Australian shares are poised to open lower amid a further sell-off of tech stocks in New York after chipmaker Advanced Micro Devices’ outlook disappointed investors adding to worries about the impacts from AI.
Still, the S&P 500 was paring earlier losses in afternoon trade and the Dow Jones turned positive on gains in Amgen, Nike, 3M, Walt Disney and Merck.
Oil rallied, then eased, amid conflicting reports that pending talks between the US and Iran have hit a stumbling block. Bitcoin briefly traded below $US73,000.
AMD’s shares plunged 16 per cent, hitting Nvidia and other semiconductor chipmakers. Nvidia briefly slid more than 4 per cent. Google parent Alphabet is poised to report quarterly results after the closing bell.
The previous session was marked by a sharp drop in software makers after Anthropic unveiled a new AI-driven legal tool, sparking new disruption concerns. Atlassian, which plunged on Tuesday, was 0.2 per cent lower at 3.22pm in New York.
Toby Ogg, an analyst covering European software at JPMorgan Chase & Co., said investors’ appetite to invest in technology is still low, even after they reduced holdings over the past 12 to 18 months.
“We are now in an environment where the sector isn’t just guilty until proven innocent, but is now being sentenced before trial,” he wrote in a note according to Bloomberg. For software companies, “better-than-expected results are no longer enough to convince the market”.
Source: AFR
Why zinc could be the sleeper metal of 2026
- Even with the recent pullback, metals have performed strongly in the past two months
- But zinc has missed out on the gains seen in other base metals
- Analysts and miners believe see a strong case for zinc in 2026
Zinc can be unloved among the base metals but last week hit a three-year high with little fanfare.
Rather than the big headline gains and record highs seen in some other base metals, particularly copper, zinc has been a quiet achiever.
It hit a low of around US$2500 per tonne in April 2025, following the announcement of US tariffs, but has been steadily climbing ever since, surpassing US$3400/t last week.
Notwithstanding a pullback in recent days, it remains at the highest level since early 2023.
Last month, Citi upgraded its three-month price forecast for zinc by US$300 to US$3300/t and its 2026 forecast by US$150 to US$3000/t.
Its bull case, to which the bank assigns a 30% probability, is for zinc to average US$3400/t this year.
Blue Ocean Equities senior analyst Richard Close told Stockhead he found zinc one of the most interesting base metals.
“Because it’s in approximate supply-demand balance, there’s no ultra-bullish story for zinc that you get with silver or gold or copper or tin, and I think that stability is what I really like,” he said.
“That stability in the metal price, its underlying industrial demand.
“And I think one of the biggest things that we’ve seen over the last year-and-a-half, two years, is that real assets, like commodities, obviously are benefiting from that inflation hedge and zinc is a perfect example of that.”
Close pointed to drastic shortages of zinc concentrate over the past two years, a situation which should stabilise in the current half.
“We should go back to a more normal market with the smelters, in terms of the underlying metal,” he said.
“Under an ordinary situation, you’d probably see the price come back a bit, but the overriding thing here is real assets being chosen as inflation hedges, and that’s going to keep the zinc price up where it is.”
Close has a base case zinc price of US$3000/t.
“I don’t expect it to rocket up, but it’ll stay where it is and probably put another 10%, maybe 15% from here,” he said.
To read more, click here
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Today’s Price Change: $0.011 +10%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.175 Unchanged
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Today’s Price Change: $0.046 Unchanged
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Today’s Price Change: $0.041 -6.82%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Today’s Price Change: $0.060 +13.21%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Today’s Price Change: $0.0035 Unchanged
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Today’s Price Change: $0.026 +8.33%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Today’s Price Change: $14.63 Unchanged
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Today’s Price Change: $0.525 +1.94%
Company: Noviqtech Ltd (ASX:NVQ)
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Today’s Price Change: $0.029 +16%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Today’s Price Change: $0.030 -3.23%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Today’s Price Change: $0.10 Unchanged
Company: WhiteHawk Ltd. (ASX:WHK)
Sector: Cybersecurity & AI
Deal Type: Placement
Raise Amount: $1.7M
Latest Entry Price: $0.01 with 1:3 option $0.02 strike
Today’s Price Change: $0.007 Unchanged
Company: Kalgoorlie Gold Mining Limited. (ASX:KAL)
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Today’s Price Change: $0.045 +6.67%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak accepts no responsibility for any views expressed and marketing material contained in this email except where the message specifically states otherwise and the sender is authorised to state them to be the views of Peak. Information provided in this email is general advise only and does take account your objectives, financial situation or needs. Before acting on any advice in this email, Peak recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, you should obtain the current Product Disclosure Statement (PDS) or other disclosure documents for the particular products and consider this information before making any decisions regarding the products. The Financial Services Guide (FSG) can be found at www.peakassetmanagement.com.au or by telephoning Peak on 1300 304 460
Comments are closed