Stocks making the biggest moves at noon: Sigma Healthcare, Gold Miners, Lithium and more

These are the companies and sectors making headlines in afternoon trade.

Sigma Healthcare (ASX: SIG) – Shares surged 28.8% after the ACCC approved the company's proposed merger with Chemist Warehouse. The ACCC's analysis found that:

• Enforceable undertaking also requires the merged Sigma Chemist Warehouse to continue as a pharmaceutical wholesaler under the Commonwealth Government's CSO arrangements for five years

• The merger is unlikely to substantially lessen competition nationally or locally because other pharmacies and non-pharmacy retailers will continue to compete to the same extent they compete now

• Combined Sigma Chemist Warehouse will be unable to foreclose downstream pharmacies that compete with Chemist Warehouse franchisees

• Retail pharmacies do not face significant barriers to switching and pharmacy customers do switch wholesalers

Neuren Pharmaceuticals (ASX: NEU) – Shares in the biotech company rallied 7.2% after reporting Q3 royalties of $13.2 million, up from $12.7 million a quarter ago. Neuren generates revenue from the sale of trofinetide for the treatment of Rett syndrome via its US-based partner, Acadia Pharmaceuticals. Acadia reported trofinetide (marketed as Daybue in the US) Q3 sales growth of 36% to $91.2 million and year-to-date sales of $251.7 million.

GQG Partners (ASX: GQG) – Shares in the global asset manager gained 4.6% after reporting a slight pullback in funds under management for October, from US$161.6 billion in the prior month to US$159.4 billion. However, year-to-date, the company's funds have increased by $20.3 billion.

US-based companies or those with US-heavy earnings – Trump's presidential victory boosted several offshore/policy-related stocks including John Lyng (+5.1%), Computershare (+4.8%), Worley (+4.5%), Bluescope Steel (+4.2%), Block (+3.5%) and QBE Insurance (+3.2%).

ClearView Wealth (ASX: CVW) – Shares in the life insurance company tumbled 20.2% after an announcement, marked as non-sensitive, contained downbeat commentary about FY25 earnings. This included:

• "We have seen a material increase in claims in the first quarter of FY25 in select pockets of our legacy Life Solutions portfolio."

• "For the three months ended 30 September 2024, the after-tax claims experience loss (relative to the new assumptions adopted) was $6.2m (which has led to a corresponding reduction in profitability for our first quarter)."

• "These initiatives are inflight and will begin to flow through the financial results in the second half of FY25, resulting in a shorter-term impact to the FY25 Life Insurance Underlying NPAT margin and FY25 Group Underlying NPAT."

Domain Holdings (ASX: DHG) – Shares in the real estate and property platform dipped a further 3.5% after falling 5.5% on Wednesday. Analysts from Bell Potter downgraded the stock from Buy to Hold this morning, citing caution around post-election uncertainties and a delay in RBA rate cuts (poised for May next year).

Gold miners – The Trump win sent the US 10-year yield up 15 bps to 4.42%, the highest since 4 July 2024 as well as the US Dollar Index up 1.62%, the largest one day move since 23 September 2022. Both of these factors tend to weigh on the price of gold, which tumbled 3.0% to US$2,651 an ounce. This triggered a sharp selloff across local gold miners, led by Spartan Resources (-14.7%), Resolute Mining (-10.1%), Gold Road Resources (-8.4%), Ora Banda Mining (-8.1%) and St Barbara (-7.9%).

Lithium stocks – Chinese lithium carbonate futures fell 2.2% on Wednesday amid concerns about Trump's potential 60% tariff on Chinese imports. In parallel, solar stocks on Wall Street fell sharply on fears that Trump's second term may spell trouble for the Inflation Reduction Act, which has fueled a clean energy boom in the US. ASX-listed lithium names suffering the most on Thursday include Piedmont Lithium (-9.8%), Vulcan Energy (-7.5%), Wildcat Resources (-6.6%) and Argosy Minerals (-5.4%).