Markets Rebound, Oil Drops, GYG Up

The ASX 200 had its best week since October 2022, rising a staggering 4.4%. This comes after the US and Iran reached an agreement to a two-week ceasefire based on the Strait of Hormuz reopening. However, other parties involved such as Israel, Lebanon, Pakistan and the EU are key in maintaining a ceasefire. Until complete cooperation, markets are still expected to see volatility.

This Week’s Risers

Guzman y Gomez Ltd (ASX:GYG) +36.05%

GYG had a standout week, surging on the back of strong quarterly results. Despite a rough 12 months with the share price down 35.1%, investors had plenty to cheer about. The Mexican fast-food chain confirmed it’s on track to open 32 new Australian restaurants. Additionally, their bold US expansion is starting to kick off with same-store sales up 2.2% for the quarter.

Alkane Resources Ltd (ASX:ALK) +20.81%

A strong March quarter, drove the impressive week for Alkane Resources, with the gold miner producing 45,776 ounces across its NSW, VIC and Swedish mines. Its cash and bullion position surged over 50% for the quarter to $362m, giving confidence the balance sheet can provide further growth and flexibility while shielding off any unwanted commodity price volatility.

4DMedical Ltd. (ASX:4DX) +20.57%

For the third straight week, 4DMedical gets a mention, appearing back on the winners list, after an appearance on the losers list last week. 4DX’s rally this week was fuelled by a broader market rebound, while its EU certification two weeks ago made it an increasingly difficult name for investors to ignore.

This Week’s Fallers

Orora Limited (ASX:ORA) -20.59%

The global packaging manufacturer, which supplies glass bottles and aluminium cans had a rough week, announcing a disappointing trading update. Their operating profit is expected to fall as the Middle East conflict disrupts major shipping routes and overland access, forcing its UAE furnace to be kept running without producing any bottles.

Yancoal Australia Ltd (ASX:YAL) -12.70%

No company-specific news drove Yancoal’s fall this week, with the coal miner caught in a broader coal sell-off as Newcastle Coal futures fell around 2%. Up over 40% year to date, Yancoal’s stock had rallied on rising coal prices following the Middle East conflict.

Droneshield Limited (ASX:DRO)-11.70%

A sudden leadership shuffle for the Australian Defence Tech company worried investors this week, with long-time CEO Oleg Vornik stepping down effective immediately and chairman Peter James announcing his retirement from the board next month. The pair along with another director came under scrutiny late last year, after they controversially sold $67m in shares, prompting a 50% share price collapse. Despite Droneshield’s internal shake-up, investors are hoping new leaders can capitalise on the surge in demand that recent geopolitical events have created for Droneshield.