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ASX Market Update – Wednesday, April 1
Welcome to our live coverage of the Australian Securities Exchange (ASX) for Wednesday, April 1. Expect a comprehensive post schedule leading up to the market opening, followed by periodic updates during the trading day. Please note, we will conclude this coverage slightly earlier today at approximately 12:00 PM AEST.
Feel free to provide your feedback to help us enhance your experience.
Larvotto Resources Delivers Strong Results at Metz
Time: 9:25 AM
Larvotto Resources (LRV) has unveiled impressive drilling outcomes from the Metz Mining Centre. Key findings include a significant intercept of 1.4 metres at a grade of 21.8 grams per tonne gold equivalent (AuEq), along with a broader 31.5 metres at an average of 4.35g/t AuEq. These results affirm the continuity of mineralisation at the site.
In addition, high-grade tungsten was discovered, with assays reaching up to 9.09% WO3. These findings highlight the multi-commodity potential of the mining operation and bolster the company’s intentions for an upgrade in resources and reserves. Ongoing drilling efforts aim to expand mineralisation along the Blacklode structure.
Reported by Chris Conway
Pro Medicus Initiates On-Market Buyback
Time: 9:23 AM
Pro Medicus (PME) has initiated an on-market buyback, targeting up to 10.4 million shares, equivalent to approximately 10% of its issued capital. This buyback programme is scheduled to operate from 1 April 2026 to 31 March 2027.
The buyback will be facilitated by Goldman Sachs and does not necessitate shareholder approval. Although pricing details have not been disclosed, this initiative signifies management’s confidence and provides flexibility for capital returns, potentially enhancing earnings per share over time.
Reported by Chris Conway
Good Morning to All!
Time: 9:20 AM
Here’s a quick summary of overnight market activities:
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US Markets: Mixed performance with the Dow slightly up, while the S&P and Nasdaq experienced declines.
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Market Sentiment: There was a noticeable lack of conviction in trading, following remarks from former President Trump regarding the US’s intent to destroy Iranian oil assets and concerns over the reopening of the Hormuz Strait.
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Bond Yields: US bond yields saw a decline after Federal Reserve Chair Jerome Powell alleviated concerns regarding imminent interest rate hikes.
- Fuel Prices: National cabinet has reached an agreement for fuel price relief, potentially resulting in savings of at least 30 cents per litre for motorists, due to the return of GST benefits combined with a significant cut in fuel excise duties.
Stay tuned for more updates throughout the day as we cover developments in the ASX and broader financial markets.
