Kalkine: ASX200 Set for a Higher Open Amid Global Calm and Boost for Uranium Stocks

3 min read | May 27, 2025 11:59 AM AEST | By Team Kalkine Media

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Kalkine: ASX200 Set for a Higher Open Amid Global Calm and Boost for Uranium Stocks — Image source: shutterstock

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Highlights

ASX200 futures point to a modestly stronger start.

Uranium stocks gain momentum on new US policy.

European markets rally as US and UK take holidays.

Australian shares look set for a slightly positive open as ASX200 futures edged up by 20 points (0.23%) early Tuesday morning (AEST), signaling optimism despite quiet conditions overseas. The subdued global activity reflects public holidays in the United States and United Kingdom, resulting in lighter trading volumes.

Yesterday, the ASX200 closed flat at 8,361, navigating one of its tightest trading ranges recently. Sectors like information technology (+1.08%), materials (+0.44%), and consumer discretionary (+0.29%) led the modest gains. Meanwhile, utilities (-2.39%), telecommunications (-0.26%), and financials (-0.23%) faced slight downward pressure.

A significant spotlight turned to uranium stocks following the US president's executive order aimed at strengthening domestic uranium mining and processing, reducing reliance on Russia and China. This boosted Deep Yellow Ltd (ASX:DYL), which surged 13.65% to A$1.41, Paladin Energy (ASX:PDN) climbed 8.84% to A$6.28, Boss Energy Ltd (ASX:BOE) rose 7.29% to A$4.27, and Silex Systems Ltd (ASX:SLX) added 4.71% to A$3.56.

Corporate developments also drew attention, with WiseTech Global Ltd (ASX:WTC) increasing 4.7% to A$104.75 after unveiling its US$2.1 billion acquisition of logistics software company e2open. In contrast, Elders Ltd (ASX:ELD) saw a 6.67% drop to A$6.16 following half-year earnings below market expectations.

The small-cap space, represented by the S&P/ASX Small Ordinaries (XSO), showed minimal movement, closing slightly lower at 3,187.80. Noteworthy is Ionic Rare Earths Ltd's milestone in supplying recycled magnet rare earth oxides to a Brazilian partner, while Prescient Therapeutics Ltd (ASX:PTX) commenced dosing for its Phase 2a clinical trial of PTX-100.

Across the globe, European markets experienced gains as traders welcomed a US decision to postpone tariffs on EU imports until July 9. Germany's DAX rose 1.7%, and France's CAC 40 climbed 1.21%, reflecting positive sentiment ahead of the US and UK markets reopening.

Investors continue to eye upcoming macroeconomic data, including US Federal Reserve commentary and inflation metrics, which could influence market direction in the months ahead.

Currencies saw a softening against the US dollar, with the Australian dollar easing to around US64.85 cents. Oil prices remained steady amid talks of OPEC+ output cuts, while base metals gained following the easing of tariff threats on European imports.

For those exploring ASX dividend stocks, the evolving market conditions within the ASX200 offer potential areas of interest, especially as global developments and domestic policies shape sector performance.

This dynamic environment highlights the importance of monitoring both international influences and domestic market movements as the ASX200 looks poised to open on a firmer footing today.

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