ASX200 Today: Focus Minerals Soars 104% Amid Market Swings and Global Trade Jitters

3 min read | May 26, 2025 12:49 PM AEST | By Team Kalkine Media

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ASX200 Today: Focus Minerals Soars 104% Amid Market Swings and Global Trade Jitters — Image source: shutterstock

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Highlights

Focus Minerals jumps over 100% on acquisition news

Tech and uranium stocks lead market gains

S&P/ASX200 trades in tight range amid global uncertainty

Australian shares saw a volatile session at midday, with the S&P/ASX200 struggling to find clear direction. The index inched up by just 0.9 points, or less than 0.1%, as global trade developments kept investor sentiment cautious. The All Ordinaries also edged slightly higher, adding 2.9 points.

The markets responded to news that U.S. President Donald Trump had delayed imposing a 50% tariff on European Union imports until July 9. This move came after initial concerns over an earlier implementation date sent the Nasdaq down and weakened the U.S. dollar late last week. Nasdaq futures rebounded by 1% on Monday, offering some support to global markets.

Locally, trading remained tight, with only four of eleven ASX sectors in the green. Technology stocks led gains, helped by a standout performance from WiseTech Global (ASX:WTC). Shares of the logistics software firm surged 5.7% after it announced the $3.25 billion acquisition of Texas-based supply chain platform e2open, marking WiseTech’s largest deal to date.

Uranium stocks extended their recent rally, buoyed by a U.S. executive order supporting the domestic nuclear energy sector. Boss Energy (ASX:BOE) jumped 9.8%, Deep Yellow (ASX:DYL) climbed 13.3%, and Paladin Energy (ASX:PDN) gained 12.1%, building on strong momentum from the previous session.

However, gains were tempered by losses in utilities. Origin Energy (ASX:ORG) dropped 4.5% after the company flagged lower-than-expected earnings from its investments in Australia Pacific LNG and UK-based Octopus Energy. This weighed on the broader sector performance.

In corporate developments, Elders (ASX:ELD) fell 5.9% despite posting a more than twofold increase in half-year profits. While the result was driven by improved livestock pricing and stronger production margins, investors appeared to focus on potential headwinds moving forward.

Meanwhile, Genesis Minerals (ASX:GMD) rose 3.2% after revealing plans to acquire the Laverton Gold Project in Western Australia from Focus Minerals (ASX:FML). The news sent Focus Minerals soaring an impressive 104.4%, making it one of the top-performing stocks of the session.

Accent Group (ASX:AX1) slipped 1.3% following the announcement of long-serving chairman David Gordon's retirement after 18 years at the helm.

Despite the cautious tone, sectors such as technology and uranium continue to show promise, and investors may keep an eye on ASX dividend stocks in such an environment as a potential source of stability and yield.

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