Closing Bell: Banks pull off the heist as miners dive behind a desk

• ASX somehow gains 0.02% while miners and small caps get absolutely pantsed
• Zip opens 50% lower on US fraud hit, then remembers how to breathe
• Banks jump 3.2% and drag Friday over the line by the ankles

The ASX staggered into Friday and found Zip was already a flaming dumpster.

By the closing clang the index had somehow scraped 0.02% higher, which did a magnificent job of hiding the carnage underneath.

Zip Co (ASX:ZIP) opened about 50% lower after a US fraud hit took $10.1m out of quarterly earnings, then bounced more than 40% in seven minutes.

Er, righto. Completely normal Friday stuff.

Resources were in bits, with materials down 3.85% and the Small Ords losing 2.29% even as the ASX 200 somehow finished green.

Banks, meanwhile, were up more than 2% in places and doing the useful grown-up work of stopping the whole index from joining Zip in the bin.

Overnight didn’t help much, though. Meta sank on another giant AI spending bill, the Nasdaq dropped 2.6%, metals got sold off across the board and oil pushed above US$112.

So, yeah, a relaxing end to the week.

TLDR on all that? Zip went feral, miners fell in a hole, banks found some duct tape.

Here’s what else caught our eye…

• Meta had a filthy night, down about 7% after another enormous AI spending bill and a US$9.9bn legal charge smashed profit. Zuck’s spending like the card’s not in his name.
• US Treasurieshad their best day in more than a year as investors legged it out of tech and into government debt. The 10-year yield dropped back below 5%.
• Oil jumped above US$112 after fresh attacks in Saudi Arabia and reports the US and Israel are preparing another round of strikes on Iran. Friday petrol prices should be a laugh.
• Taiwan shut its US$5tn stock market as Typhoon Champi approached, while South Korea’s Kospi was also getting mauled by the AI selloff. Asia really committed to the Friday theme.
• And Tesla has officially canned plans to bring the Cybertruck to Australia and New Zealand. Righto. Back to the Hilux, then.

Movers and Shakeouts

The ASX 200 somehow finished 0.02% higher at 8,795.2, which is basically the market equivalent of finding 20 cents in the couch.

Consumer discretionary led with a 2.58% gain, while financials added 2.21% and telcos 1.15%. Utilities, healthcare, industrials and staples also finished green.

Then there was resources. Materials fell 3.85%, tech lost 0.92%, real estate slipped 0.54% and energy dropped 0.40%.

The index split was even uglier underneath: the ASX 200 Resources index fell 3.51%, gold stocks were down 5.56% and the Small Ordinaries lost 2.29%. Banks, meanwhile, jumped 3.20% and somehow dragged the headline market over the line.

TLDR on that? Banks had a blinder. Miners got taken out behind the shed.

ASX Leaders

Today’s best-performing stocks (including small caps) intraday:

Code Name Last % Change Volume Market Cap AOA Ausmon Resorces 0.0015 50% 105000 $1,352,613 RDS Redstone Resources 0.003 50% 666666 $2,609,963 WEL Winchester Energy 0.0015 50% 1500000 $1,713,019 TPW Temple & Webster Ltd 5.43 33% 3503874 $474,345,195 ENV Enova Mining Limited 0.002 33% 274445 $3,416,414 MAY Melbana Energy Ltd 0.004 33% 693112 $11,345,906 MQR Marquee Resource Ltd 0.004 33% 963968 $3,407,390 NS1 Nodestream Ltd 0.004 33% 7127889 $6,038,550 PRM Prominence Energy 0.002 33% 250000 $4,061,501 ONE Oneview Healthcare 0.14 33% 260554 $88,151,059 HYT Hyterra Ltd 0.005 25% 60540 $8,571,512 M2M Mtmalcolmminesnl 0.005 25% 1083999 $3,173,867 X2M X2M Connect Limited 0.005 25% 113934277 $10,378,192 ARC ARC Funds Limited 0.042 24% 309076 $3,060,160 KAL Kalgoorliegoldmining 0.018 20% 658766 $9,394,590 AJX Alexium Int Group 0.006 20% 50000 $15,838,131 YAR Yari Resources 0.003 20% 796645 $3,689,110 TAL Talius Group Limited 0.05 19% 129309 $14,459,437 NGS NGS Ltd 0.02 18% 1633222 $16,388,703 DM1 Desert Metals 0.007 17% 762575 $4,013,273 GDM Greatdivideminingltd 0.225 15% 200621 $13,544,502 CTN Catalina Resources 0.046 15% 63182 $9,847,423 AEV Avenira Limited 0.008 14% 18282296 $38,010,628 BGT Bio-Gene Technology 0.016 14% 182770 $6,132,856 NPM Newpeak Metals 0.008 14% 1470706 $4,269,388

ASX Laggards

Today’s worst-performing stocks (including small caps) intraday:

Code Name Price % Change Volume Market Cap HWK Hawk Resources. 0.008 -70% 91055021 $18,629,545 BNLDB Blue Star Helium Ltd 0.1 -43% 111803 $21,535,203 LU7 Lithium Universe Ltd 0.002 -43% 27412695 $6,610,386 GSE Gulf Stream Energy 0.002 -33% 7323278 $7,303,820 HPC Thehydration 0.002 -33% 19897383 $1,613,965 SPX Spenda Limited 0.001 -33% 3153 $1,858,351 TSR Turnstone Resources 0.016 -33% 50000 $5,076,158 ZIP ZIP Co Ltd.. 1.46 -29% 108935415 $2,579,058,130 BGE Bridgesaaslimited 0.005 -29% 2878431 $1,399,014 PM1 Palisade Metals Ltd 0.05 -24% 247543 $19,135,793 IAM Income Asset 0.013 -24% 1057715 $15,824,804 RB6 Rubixresources 0.097 -22% 120980 $7,681,250 VR8 Vanadium Resources 0.03 -21% 13003104 $26,636,735 AXP AXP Energy Ltd 0.004 -20% 1029285 $2,248,668 FME Future Metals NL 0.008 -20% 3161382 $12,130,437 MDI Middle Island Res 0.008 -20% 2146377 $9,933,218 OB1 Orbminco Limited 0.008 -20% 342693 $5,910,034 TON Triton Min Ltd 0.004 -20% 13712870 $7,841,944 BSA BSA Limited 0.19 -19% 346317 $18,870,561 HAR Harangaresources 0.069 -19% 887074 $38,508,143 NSM Northstaw 0.018 -18% 221030 $8,549,056 VTA Vita Resources 0.018 -18% 2036016 $2,106,357 ANX Anax Metals Ltd 0.027 -18% 2977851 $57,538,315 PBL Parabellumresources 0.05 -18% 1299999 $3,800,300 CT1 Constellation Tech 0.0025 -17% 1687674 $4,461,701

In Case You Missed It

BOA Resources (ASX:BOA) has lined up $9.2m to chase further copper growth at Neds Creek.

El Dorado Goldfields (ASX:EDO) has opened a new chapter under its new name and ASX code.

Flagship Minerals (ASX:FLG) is pushing ahead in a Tier-1 copper hotspot.

Kantra Copper (ASX:KAN) has returned big copper hits at Emily Star ahead of a resource update.

Ora Banda Mining (ASX:OBM) is advancing its ambition to grow gold production to 300,000ozpa.

Trading Halts

Axel REE (ASX:AXL) – metallurgical test results
Brightstar Resources (ASX:BTR) – cap raise
Elk Range Mining (ASX:ELK) – drilling results
Resonance Health (ASX:RHT) – clinical trial results and cap raise
Skin Elements (ASX:SKN) – cap raise
Wildcat Resources (ASX:WC8) – feasibility study

One More Thing…

Apparently today is also known as National Slap Your Irritating Co-Worker Day. (Honest, you can look that up.)

We checked with HR, though, and they said to absolutely not do that.

Slap! 

At Stockhead we tell it like it is. While the companies listed in In Case You Missed It are all Stockhead advertisers at the time of writing, they did not sponsor this article. 

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