PEAK ASSET: MORNING WRAP 15 April: ASX 200 futures are pointing up 43 points or 0.5 per cent to 9047 | ASX to rise as Wall Street heads for new record | Axel REE backs ISR to fast-track rare earths in Brazil |

In case you missed it, Eclipse Metals (ASX: EPM) released results on Monday from its 2025 five-hole diamond drilling program at its Grønnedal Rare Earth Project in Greenland, with all holes intersecting broad rare earth mineralisation from surface to end of hole.

Results highlight consistent mineralisation across the carbonatite system, including multiple zones exceeding 1% TREO and a strong magnet rare earth profile, with NdPr comprising over 30% of TREO in key intervals. Drilling also supports the presence of a large, shallow-dipping higher-grade zone extending from surface.

Key intercepts (1,000ppm TREO cut-off) include:

• 195m at 6,268ppm TREO (GD001)
• 151m at 4,507ppm TREO (GD002)
• 150.2m at 5,762ppm TREO (GD003)
• 114.4m at 6,883ppm TREO (GD004)
• 89.3m at 6,700ppm TREO (GD005)

Multiple higher-grade zones (>1% TREO) were also intersected within broader mineralised intervals, including 19m at 1.15% TREO and peak assays up to 2.84% TREO.

Results are consistent with geological continuity within the current Mineral Resource area and support ongoing geological modelling and future resource evaluation.

Market Highlights

ASX 200 futures are pointing up 43 points or 0.5 per cent to 9047.

All US prices near 4pm New York time (6am AEST).

• AUD flat to US71.26¢
• Bitcoin +1.7% to $US74,420
• On Wall St: Dow +0.7% S&P +1.21% Nasdaq +2.0%
• VIX down 0.68 to 18.44
• Gold +2.2% to $US4,844.23 an ounce
• Brent oil -4.2% to $US95.21 a barrel
• Iron ore -1.1% to $US103.50 a tonne
• 10-year yield: US 4.26% Australia 4.95%

Across Markets

Australian shares are set to open higher as Wall Street closed within sight of a new record. Oil fell.

ASX 200 futures were up 43 points or 0.5 per cent to 9047.

The S&P 500 closed near all-time highs, finishing 1.2 per cent higher a day after erasing its war-driven losses, extending a rebound that has brought it to the brink of its late-January peak. The Nasdaq rose 1.8 per cent for a 10th straight day of gains – its longest such streak since 2021.

Brent fell 4 per cent towards $US95 a barrel, as the International Energy Agency estimated that the war would wipe out global oil demand growth for the first time since the 2020 pandemic. The dollar marked a seventh straight day of losses, while Treasuries strengthened.

Citigroup, which posted its highest quarterly return on tangible common equity in five years, led the KBW Bank Index, while Wells Fargo was the worst performer as the bank’s net interest income fell short of estimates.

BlackRock took in a net $US130 billion of client cash in the first quarter as its focus on higher-fee products helped deliver earnings that beat estimates.

JPMorgan shares were down. The bank disclosed that potential regulations are expected to force the bank to hold onto $US20 billion more of capital, with CEO Jamie Dimon and CFO Jeremy Barnum criticising the proposals.

Source: AFR