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ASX Midday Market Report – 13 May 2025

ASX Midday Market Report – 13 May 2025

Tech and Energy Stocks Push ASX Higher at Midday

The Australian share market is firmly in positive territory at midday, buoyed by strong performances in the technology and energy sectors. As of 12:27 pm AEST, the benchmark S&P/ASX 200 index is up 55.60 points or 0.68%, reaching 8,289.10, a fresh 20-day high. The index has risen 1.69% over the past five sessions and now sits 3.79% below its 52-week peak.

Seven of the 11 major sectors are in the green, with investors rotating into growth and cyclical stocks. Gains in information technology and energy have helped the index overcome declines in defensive sectors such as staples and utilities.

ASX 200 Midday Performance [ASX.com.au]

Top Gainers: Clarity Pharmaceuticals and Life360 Lead the Charg

Among the standout performers today is Clarity Pharmaceuticals Ltd (ASX:CU6), which has surged 20.50% to $2.675. The radiopharmaceutical company has gained attention following positive sentiment around its clinical developments. It now tops the S&P/ASX 200’s gainers list.

Life360 Inc. (ASX:360) is also posting strong gains, up 16.35% to $27.75. The location-tracking app developer impressed investors with its latest earnings report, which highlighted a rise in subscriber growth and revenue. Volume in Life360 jumped to 1.63 million shares, 188% above its 90-day average, signalling strong institutional interest.

Other notable gainers include:

  • Zip Co Ltd (ASX:ZIP), up 15.34% to $2.105
  • Mineral Resources Ltd (ASX:MIN), up 10.87% to $25.29
  • Corporate Travel Management Ltd (ASX:CTD), up 10.15% to $13.30

These gains reflect a broader return to risk appetite among investors, particularly in the growth and resource-oriented segments of the market.

Gold Miners Drag as Sector Weakens

Despite the broader strength, the materials sector is seeing mixed results due to weakness in gold mining stocks. The ASX All Ordinaries Gold Index has fallen sharply, down 6.76% at midday, as investors rotate out of defensive plays.

Capricorn Metals Ltd (ASX:CMM) is leading the declines, dropping 11.78% to $8.31. Ramelius Resources Ltd (ASX:RMS) is also down 10.89%, followed by Genesis Minerals Ltd (ASX:GMD), which has shed 10.10%.

Other major gold stocks trading lower include:

  • Regis Resources Ltd (ASX:RRL), down 9.64% to $4.22
  • Spartan Resources Ltd (ASX:SPR), down 9.29% to $1.905

Falling gold prices and shifting investor sentiment have weighed on the sector, with profit-taking and macroeconomic concerns contributing to the selloff.

Broader Market Indices See Positive Momentum

The positive sentiment extends across most of the ASX’s key indices. The ASX All Technology Index (XTX) has gained 3.35% to 3,808.7, lifted by Life360 and other tech names. The ASX 200 Resources index (XJR) is also up 1.23% to 5,211.2 despite pressure on gold stocks.

Other major indices at midday include:

  • ASX All Ordinaries (XAO): up 0.75% to 8,530.8
  • ASX 20 (XTL): up 0.85% to 4,613.2
  • ASX 50 (XFL): up 0.70% to 8,105.0
  • ASX 100 (XTO): up 0.70% to 6,961.0
  • ASX 300 (XKO): up 0.66% to 8,224.2
  • ASX Small Ordinaries (XSO): up 0.29% to 3,186.0
  • ASX 200 Banks (XBK): flat at +0.01%
  • ASX Gold Index (XGD): down 6.76% to 11,102.5

These results indicate broad-based buying across large caps, mid caps, and small caps, with the notable exception of gold-focused companies.

Sector Snapshot: Seven Up, Four Down

At midday, seven of the 11 ASX sectors are trading higher:

  • Information Technology: +3.95%
  • Energy: +3.18%
  • Health Care: +1.91%
  • Consumer Discretionary: +1.34%
  • Materials: +0.95%
  • Financials: +0.43%
  • Industrials: +0.22%

The sectors in the red are:

  • Consumer Staples: -2.64%
  • Utilities: -1.12%
  • Telecommunication Services: -0.80%
  • Real Estate: -0.60%

Today’s movements reflect a risk-on sentiment, with money flowing out of defensives and into sectors more sensitive to economic growth.

ASX 200 Midday Sector’s Performance [Market Index]

Volume Surges: Breville, BOQ, and Newmont Stand Out

Several companies are seeing trading volumes well above their 90-day average:

  • Breville Group Ltd (ASX:BRG): 637.8K shares traded, up 277%
  • Newmont Corporation (ASX:NEM): 783.41K shares, up 216%
  • Life360 Inc. (ASX:360): 1.63M shares, up 188%
  • Nufarm Ltd (ASX:NUF): 1.41M shares, up 169%
  • Bank of Queensland Ltd (ASX:BOQ): 2.57M shares, up 167%

These volume spikes often indicate institutional buying or selling, and may point toincreased volatility ahead for these stocks.

Outlook

With the ASX 200 pushing to a new 20-day high and most sectors trading in positive territory, investor sentiment remains upbeat. Tech and energy are leading the way, while gold stocks and consumer staples are under pressure.

Markets will be watching closely for domestic economic data and offshore developments later in the week, particularly out of the US, which could set the tone for the next leg of market movement.

At midday, the bulls appear to have the upper hand.

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