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Highlights:
ASX 200 trims early losses as sectors rebound
Viva Energy under pressure after first-half update
Lithium and uranium stocks show mixed reactions
The ASX 200 began Tuesday’s session in the red, touching early lows, but staged a gradual recovery by the afternoon. While broader market sentiment remained cautious, certain sectors like Technology, Energy, and Healthcare showed signs of resilience, helping the index ease its earlier losses.
Energy Sector in Focus as Viva Energy Updates
Energy names were in the spotlight following a half-year trading update from Viva Energy (ASX:VEA). The company released financial figures for its Convenience & Mobility and Commercial & Industrial segments. While there was a slight improvement in EBITDA guidance, the numbers still lagged behind market expectations. Factors such as lower refining margins and a notable decrease in convenience sales—largely due to regulatory changes impacting tobacco—contributed to the market reaction.
Shares of Viva Energy opened significantly lower and continued to trade below previous session levels by midday, dragging on the Energy Index.
Mixed Session for Lithium Amid Chinese Futures Drop
Chinese lithium carbonate futures recorded another sharp drop, continuing their downward trend from Monday. Despite this, lithium stocks on the ASX displayed surprising resilience. Pilbara Minerals (ASX:PLS) and Liontown Resources (ASX:LTR) traded near flat levels, indicating a possible decoupling from short-term futures volatility.
Liontown also released its fourth-quarter results, which included spodumene shipment volumes and realised pricing. Production costs remained in line with guidance, while the company's full-year outlook showed a wide range of expected output and operational expenses. Although projections slightly diverged from certain analyst forecasts, market reaction remained subdued.
Uranium and Gold Miners Extend Losses
Boss Energy (ASX:BOE) was among the laggards in early trade, experiencing a significant drop that continued from the previous session. The company has seen consistent downward momentum, reflecting cautious investor sentiment in the uranium space.
Gold miner Greatland Resources (ASX:GGP) was also under pressure after announcing its full-year and FY26 guidance. While FY25 output was largely in line with earlier projections, future expectations fell short on both production volume and cost efficiency. The company cited revised assessments of ore grades in existing stockpiles and open pit zones acquired through a recent transaction.
Shares in Greatland opened significantly lower, trading below their initial listing price and reflecting concern over the reduced FY26 outlook.
Early Leaders and Laggards Across the Board
Among the day’s early gainers were Worley (ASX:WOR), Neuren Pharmaceuticals (ASX:NEU), and Breville Group (ASX:BRG), supported by sector-wide strength and individual performance updates. On the flip side, companies like Perseus Mining (ASX:PRU), Evolution Mining (ASX:EVN), and Paladin Energy (ASX:PDN) found themselves on the losing end due to weaker commodity prices and stock-specific developments.
Small Cap Spotlight: Activity Heats Up
Small cap stocks also saw notable activity, with Coronado Global Resources (ASX:CRN), Immutep (ASX:IMM), and Patriot Battery Metals (ASX:PMT) leading gains. On the weaker side, Minerals 260 (ASX:MI6), Wildcat Resources (ASX:WC8), and Dimerix (ASX:DXB) experienced moderate declines during the morning session.
