36 ASX 200 stocks are defying Thursday's selloff and trading higher
Gold miners, grocery giants, utility providers and industrials are bucking the trend on Thursday.
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Mentioned
KEY POINTS
- Almost a fifth of S&P/ASX 200 constituents have bucked the trend on Thursday to trade in positive territory
- Gold miners, grocery giants and utility providers are broadly higher as investors pivot towards defensive companies
- The average large cap gold stocks is up 2.1% on Thursday, with a 74.2% gain over the past twelve months
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 |
|---|---|---|---|---|
Dyno Nobel | $2.56 | 4.3% | -8.8% | |
Ramelius Resources | $2.40 | 4.1% | 25.7% | |
Lynas Rare Earths | $7.10 | 3.7% | 25.4% | |
Westgold Resources | $2.89 | 3.6% | 22.5% | |
Ora Banda Mining | $1.08 | 3.4% | 260.0% | |
De Grey Mining | $2.15 | 3.1% | 70.7% | |
Spartan Resources | $1.88 | 2.9% | 184.9% | |
Emerald Resources | $3.86 | 2.5% | 23.2% | |
Newmont Corporation | $77.98 | 2.2% | 37.8% | |
Northern Star Resources | $18.42 | 1.9% | 25.6% | |
Regis Resources | $3.99 | 1.9% | 105.9% | |
Capricorn Metals | $8.05 | 1.2% | 50.4% | |
West African Resources | $2.34 | 0.9% | 74.6% | |
Bluescope Steel | $21.71 | 0.6% | -6.3% | |
Vault Minerals | $0.44 | 0.6% | 12.2% | |
James Hardie Industries | $36.86 | 0.3% | -37.4% | |
Genesis Minerals | $3.70 | 0.3% | 94.2% | |
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 |
|---|---|---|---|---|---|
Region Group | Real Estate | $2.15 | 2.4% | -5.3% | |
Spark New Zealand | Communication Services | $1.90 | 1.9% | -56.4% | |
Dalrymple Bay Infrastructure | Industrials | $3.84 | 1.6% | 40.2% | |
Austal | Industrials | $4.24 | 1.6% | 77.9% | |
Coles Group | Consumer Staples | $20.15 | 1.4% | 21.4% | |
Mercury NZ | Utilities | $5.14 | 1.2% | -19.7% | |
Contact Energy | Utilities | $8.11 | 1.1% | 9.2% | |
Fisher & Paykel | Health Care | $31.80 | 1.0% | 37.1% | |
Pro Medicus | Health Care | $200.42 | 0.8% | 96.8% | |
Genesis Energy | Utilities | $1.98 | 0.8% | -11.0% | |
Woolworths Group | Consumer Staples | $29.75 | 0.7% | -8.9% | |
Ebos Group | Health Care | $35.12 | 0.4% | 10.7% | |
Auckland International Airport | Industrials | $7.22 | 0.4% | -4.9% | |
Ventia Services | Industrials | $4.12 | 0.4% | 7.7% | |
Chorus | Communication Services | $7.35 | 0.3% | 7.0% | |
Meridian Energy | Utilities | $5.16 | 0.2% | -7.5% | |
Metcash | Consumer Staples | $3.17 | 0.2% | -18.4% | |
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.
