The ASX 200 finally closed the week in the green, its first positive week since February 28, when the war began. Up 1% by Friday’s close, investor sentiment improved on expectations of a potential peace deal in the Middle East after a month of conflict. However, don’t get too comfortable though, with further volatility expected as the US and Iran attempt to reach a deal.
This week’s best performers
4D Medical Ltd. (ASX:4DX) +46.05%
PLS Group Limited (ASX:PLS) +21.75%
Liontown Limited (ASX:LTR) +21.31%
4D Medical (ASX:4DX): +46.05% - 4D Medical develops software that converts standard X-rays or CT scans into ‘four-dimensional’, real-time imaging. The company received certification to immediately commence commercial operations with healthcare providers across the European Union, opening the door to one of the world’s largest and most sophisticated healthcare markets.
PLS Group & Liontown (ASX:PLS, ASX:LTR): +21.75% & +21.31% - Lithium is back. Two of the ASX’s largest lithium miners had massive weeks, with both stocks riding a broader sector resurgence. UBS analysts have predicted that Lithium prices have potential to climb further as Middle East supply disruptions drive demand for EVs and battery storage.
This week's worst performers
Electro Optic Systems Holdings Limited (ASX:EOS) -14.55%
NextDC Limited (ASX:NXT) -11.04%
Predictive Discovery Limited (ASX:PDI) -10.90%
Electro Optic Systems Holdings Limited (ASX:EOS): -14.55% - Only two weeks ago EOS surged 18.47% after landing a $US45m defence order from a Middle East buyer, but investors this week took profits. JP Morgan also chose its moment to exit, ceasing to be a substantial holder and offloading its >5% stake in the process.
NextDC (ASX:NXT): -11.04% - Late last year, Australia’s largest data centre operator had been riding the AI infrastructure wave. but the tide has turned. With this week’s huge sell-off, NXT is in the red on a 12-month basis. With ongoing losses and an escalating capital expenditure bill, investors took the chance to exit.
Predictive Discovery Limited (ASX:PDI): -10.90% - A recent addition on the index following March’s quarterly rebalance, PDI had a poor debut. Gold’s poor month weighed on investor sentiment, in addition to two high-profile exits with Bank of America and Citi Group ceasing to be substantial holders which added further selling pressure.
