Market report: ASX flat, small caps shine and uranium stocks feel pinch
Published: 17:01 28 Jan 2025 AEDT
Proactive’s Tylah Tully gives a market wrap for January 28.
The ASX closed slightly lower on Tuesday, down 0.12% at just under 8,400 points. Over the past five days, the index has gained 0.62% but remains 1.36% below its 52-week high.
Sigma Healthcare led gains, rising 12.22% to $3.03 per share. Its target, the Chemist Warehouse Group posted record results for H1 FY25, driven by double-digit Like-For-Like Retail Network Sales growth and a robust December trading performance. EBIT rose 35%, with margins improving by 400 basis points.
Deep Yellow shares fell 15% to $1.23, as concerns emerged that AI advancements, particularly those from China-based DeepSeek, might reduce demand for nuclear power.
DeepSeek’s AI technology is reportedly cheaper, chip-efficient and less energy-intensive than current alternatives.
Six of the eleven ASX sectors declined.
Consumer discretionary led gains, up 1.63%. Conversely, Real Estate dropped 3.19%, while Utilities (-2.47%) and Energy (-2.10%) also saw notable losses.
Terra Metals Ltd was as much as 34.39% higher than the previous close at $0.039 after revealing high-grade titanium results to add to the multi-commodity potential of the Dante Project in Western Australia while Tamboran Resources Corp reached $0.195, an increase of 18.19% on the most recent close.
AuMega Metals Ltd was 11.91% higher at $0.047, European Lithium Ltd rose as much as 7.02% to $0.061, QMines Ltd hit a daily high of $0.059, a rise of 5.36%, Novo Resources Corp lifted by 5.32% to $0.099, Cobalt Blue Holdings Ltd increased 4.69% to $0.067 and Anteris Technologies Ltd pushed 32 cents higher, or 3.54%, to $9.37.
