The S&P/ASX 200 has been rattled by President Donald Trump’s sweeping new tariffs, which impose a minimum 10% duty on all US imports and escalate to over 20% for dozens of countries.
Despite S&P 500 futures tumbling more than 3%, the local sharemarket has shown resilience and bouncing from session lows. Surprisingly, 36 stocks have either opened in positive territory or recovered early losses to trade higher
Today's Gainers by Sector
Materials: 18
Industrials: 5
Utilities: 4
Consumer Staples: 3
Health Care: 3
Communication Services: 2
Real Estate: 1
Materials Trading Higher
The materials sector, particularly gold miners and rare earth producers, has emerged as a bright spot. Below is a snapshot of those trading higher:
Ticker
Company
Price
% Chg
1 Year
DNL
Dyno Nobel
$2.56
4.3%
-8.8%
RMS
Ramelius Resources
$2.40
4.1%
25.7%
LYC
Lynas Rare Earths
$7.10
3.7%
25.4%
WGX
Westgold Resources
$2.89
3.6%
22.5%
OBM
Ora Banda Mining
$1.08
3.4%
260.0%
DEG
De Grey Mining
$2.15
3.1%
70.7%
SPR
Spartan Resources
$1.88
2.9%
184.9%
EMR
Emerald Resources
$3.86
2.5%
23.2%
NEM
Newmont Corporation
$77.98
2.2%
37.8%
NST
Northern Star Resources
$18.42
1.9%
25.6%
RRL
Regis Resources
$3.99
1.9%
105.9%
CMM
Capricorn Metals
$8.05
1.2%
50.4%
WAF
West African Resources
$2.34
0.9%
74.6%
BSL
Bluescope Steel
$21.71
0.6%
-6.3%
VAU
Vault Minerals
$0.44
0.6%
12.2%
JHX
James Hardie Industries
$36.86
0.3%
-37.4%
GMD
Genesis Minerals
$3.70
0.3%
94.2%
PRU
Perseus Mining
$3.31
0.2%
50.9%
Data as at 12:00 pm AEDT, Thursday 3 April 2025
Gold Miners Rally, Lynas Gains
Trump’s tariffs have fueled a flight to safe-haven assets, pushing gold to its 18th record high of the year, rising 0.8% to US$3,138 per ounce overnight and up another 0.25% to US$3,146 today.
Large-cap gold miners listed above are up an average of 2.1% on Thursday and have gained 74.2% over the past 12 months.
Citi analysts recently forecast further upside, targeting US$3,200 per ounce in the next 0–3 months, driven by hedging against U.S. economic risks, robust Chinese demand, and global emerging market central bank purchases. Elsewhere, Lynas Rare Earths rallied 3.7%, reflecting its role as one of the few major rare earth producers outside China. With the US heavily reliant on Chinese rare earths, Trump’s tariffs — including a 34% levy on Chinese goods in addition to existing 20% duties — could make Lynas’ products more competitive. As US manufacturers seek alternatives to Chinese supply chains, Lynas is strategically positioned with its US-based processing plant, backed by the Department of Defense.
Defensive Sectors Trading Higher
Ticker
Company
Sector
Price
% Chg
1 Year
RGN
Region Group
Real Estate
$2.15
2.4%
-5.3%
SPK
Spark New Zealand
Communication Services
$1.90
1.9%
-56.4%
DBI
Dalrymple Bay Infrastructure
Industrials
$3.84
1.6%
40.2%
ASB
Austal
Industrials
$4.24
1.6%
77.9%
COL
Coles Group
Consumer Staples
$20.15
1.4%
21.4%
MCY
Mercury NZ
Utilities
$5.14
1.2%
-19.7%
CEN
Contact Energy
Utilities
$8.11
1.1%
9.2%
FPH
Fisher & Paykel
Health Care
$31.80
1.0%
37.1%
PME
Pro Medicus
Health Care
$200.42
0.8%
96.8%
GNE
Genesis Energy
Utilities
$1.98
0.8%
-11.0%
WOW
Woolworths Group
Consumer Staples
$29.75
0.7%
-8.9%
EBO
Ebos Group
Health Care
$35.12
0.4%
10.7%
AIA
Auckland International Airport
Industrials
$7.22
0.4%
-4.9%
VNT
Ventia Services
Industrials
$4.12
0.4%
7.7%
CNU
Chorus
Communication Services
$7.35
0.3%
7.0%
MEZ
Meridian Energy
Utilities
$5.16
0.2%
-7.5%
MTS
Metcash
Consumer Staples
$3.17
0.2%
-18.4%
FRW
Freightways Group
Industrials
$9.59
0.1%
27.0%
Data as at 12:00 pm AEDT, Thursday 3 April 2025
Staples, Utilities and Industrials Catch a Bid
The gains from Coles (+1.01%) and Woolworths (+0.44%) lifted the S&P/ASX 200 Staples sector by 0.49%, compared to the broader market’s 1.57% decline. Investors appear drawn to these grocery giants for their defensive qualities, as they serve local consumers and are largely insulated from US trade dynamics.
The recent Australian Competition and Consumer Commission’s (ACCC) final supermarket inquiry found no evidence that price gouging was driving inflation, which has eased pressure on these stocks. Woolworths, which had fallen as much as 15% in the 12 months leading up to the report, is likely benefiting from both the ACCC’s clearance and a broader flight to safety.
Utilities and industrials, like Spark New Zealand (+1.9%) and Dalrymple Bay Infrastructure (+1.60%), also held up well, reflecting their focus on domestic infrastructure and services.